TRUTH-IN-SAVINGS DISCLOSURE
SHARE CERTIFICATE
IRA/ROTH IRA/COVERDELL SHARE CERTIFICATE

Rate Information - The dividend rate and annual percentage yield on your certificate account are listed on your certificate account receipt and our certificate rate sheet. You will be paid this rate until first maturity.
Compounding frequency - Dividends will be compounded every month.
Crediting frequency - Dividends will be credited to your account every month.
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 date pattern. The dividend declaration date is the last day of the dividend period, and for the example above is January 31.
Minimum balance requirements:
We list the minimum balance required to open an account on our rate sheets.
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) to your account.
Transaction limitations:
After the account is opened, you may not make additions into the account until the maturity date stated on the account (except as noted in the "Bump-Up and IRA/ROTH/COVERDELL Share Certificate" sections).
BUMP UP SHARE CERTIFICATE: You may make one additional deposit for every 12 months completed of the current term or once per term for Bump UP products with a term less than 24 months. The maximum amount you can deposit is up to the original amount of the certificate at the start of the current term.
Bump Up Option Plan and Rate Information (variable rate account) - If your account has the bump up rate feature, we list the dividend rate and annual percentage yield on your bump up share certificate account on your share certificate account receipt. You have the option for every 12 months completed of the current term or once per term for Bump UP products with a term less than 24 months to exchange this dividend rate for a new dividend rate. The new dividend rate will be the dividend rate we are then offering on term share certificates. This exchange will be at no cost to you. If you make an exchange, the maturity date will remain the same as originally scheduled. You may exercise this option once during each term (the original term and each renewal term).
IRA/ROTH IRA/COVERDELL SHARE CERTIFICATE: You may make unlimited additions up to your annual contribution limit into your account. There are no limitations on the frequency or timing of additions with the exception of the 13 month bump up certificate (additional limitations are listed above).
Time requirements - Your account will mature on the date listed on your certificate account receipt and your monthly statement.
Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity) -
In accordance with Federal Reserve Regulation D, withdrawals on share certificate accounts completed within the first six days of account opening or within six days immediately following the last partial withdrawal will be subject to an early withdrawal penalty of at least seven days simple interest on the amount withdrawn. 

• If your account has an original maturity of less than 12 months:
  The required Regulation D penalty will apply whether or not the interest has accrued. This may reduce the principal.
• If your account has an original maturity of 12 to 24 months:
  The penalty will equal 180 days dividends and will apply whether or not the interest has accrued. This may reduce the principal.
• If your account has an original maturity of more than 24 months:
  The penalty will equal 270 days dividends and will apply whether or not the interest has accrued. This may reduce the principal.

Exceptions to Early withdrawal penalties.

1. At our option, we may pay the account before maturity without imposing an early withdrawal penalty when an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction.
2. Where the account is an Individual Retirement Account (IRA) and the depositor pays any portion within (7) days after establishment; provided that the depositor forfeits an amount at least equal to the simple dividends earned on the amount withdrawn.
3. Where the account is a Traditional IRA and the owner has attained the age 59 ¹/_², or if the owner makes the withdrawal as the IRA holders Required Minimum Distribution as required by the IRS.

Withdrawal of dividends prior to maturity - The annual percentage yield is based on an assumption that dividends will remain in the account until maturity. A withdrawal will reduce earnings.
Automatically renewable account - This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any) or we receive written notice from you within the grace period mentioned below, if any. We can prevent renewal if we mail notice to you at least 30 calendar days before maturity. If either you or we prevent renewal, dividends will not accrue after final maturity.
Renewal term. Each renewal term will be the same as the original term, beginning on the maturity date. The dividend rate will be the same we offer on new term share accounts on the maturity date which have the same term, minimum balance (if any) and other features as the original term certificate account.
Grace period. You will have a grace period of ten calendar days after maturity to withdraw the funds without being charged an early withdrawal penalty.
You may make withdrawals of principal from your account before maturity. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty.
You can only withdraw dividends credited in the term before maturity of that term without penalty. You can withdraw dividends anytime during the term after we have credited them to your account.
Nontransferable/Nonnegotiable - Certificate accounts are nontransferable and nonnegotiable. The funds in your account may not be pledged to secure any obligation of an owner, except with the Credit Union.


Bylaw requirements:
You must complete payment of one share in your Membership Savings account as a condition of admission to membership.
Nature of dividends - Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period. (This disclosure further explains the dividend feature of your term share account(s).)
National Credit Union Share Insurance Fund - Member accounts in this credit union are federally insured by the National Credit Union Share Insurance Fund.
Please refer to our rate sheet for current dividend rate and annual percentage yield information and to our fee schedule for additional information about charges. 

Rev. 07/2019

© 1993 Wolters Kluwer Financial Services, Inc. All rights reserved.