TRUTH-IN-SAVINGS DISCLOSURE
| EFFECTIVE DATE: 10/01/2024 | ||||||||||
| The rates, fees and terms applicable to your account at the Credit Union are provided with this Truth-in-Savings Disclosure. The Credit Union may offer other rates for these accounts from time to time. | ||||||||||
| RATE SCHEDULE | ||||||||||
| ACCOUNT TYPE | ||||||||||
| Dividend Rate/ Annual Percentage Yield (APY) |
Rate Type | Minimum Opening Deposit |
Minimum Balance to Earn the Stated APY |
Dividends Compounded |
Dividends Credited |
Dividends Period |
Additional Deposits |
Withdrawls | Renewable | |
| Certificate | Fixed |
$500.00 for 12 Month and 13 Month $1,000.00 for 6 Month, 7 Month, 18 Month, 24 Month, 30 Month, 36 Month, 48 Month, 60 Month |
$500.00 for 12 Month and 13 Month $1,000.00 for 6 Month, 7 Month, 18 Month, 24 Month, 30 Month, 36 Month, 48 Month, 60 Month | Daily | Monthly | Account's Terms |
Not Allowed | Allowed - See Transaction Limitations section | Automatic | |
| 6 Month |
4.40% / 4.49% |
|||||||||
| 7 Month |
4.40% / 4.49% |
|||||||||
| 12 Month | 4.30% / 4.39% | |||||||||
| 13 Month | 4.30% / 4.39% | |||||||||
| 18 Month | 4.15% / 4.23% | |||||||||
| 24 Month | 4.00% / 4.07% | |||||||||
| 30 Month | 4.00% / 4.07% | |||||||||
| 36 Month | 3.85% / 3.92% | |||||||||
| 48 Month |
3.70% / 3.76% |
|||||||||
| 60 Month | 3.45% / 3.51% | |||||||||
| Money Saver Certificate | Fixed | $25.00 | $25.00 | Daily | At Maturity | Account's Term | Allowed - No Limit | Allowed - See Transaction Limitations Section | Automatic | |
| 12 month | 1.60% / 1.61% | |||||||||
| HSA Certificate | Fixed | $1,000.00 | $1,000.00 | Daily | Monthly | Account's Term | Not Allowed | Allowed - See Transaction Limitations Section | Automatic | |
| 3 Month | 1.00% / 1.00% | |||||||||
| IRA Certificate | Fixed | $500.00 for 12 Month $1,000.00 for 24 Month, 30 Month, 48 Month, 60 Month | $500.00 for 12 Month $1,000.00 for 24 Month, 30 Month, 48 Month, 60 Month | Daily | Monthly | Account's Term | Allowed - No Limit | Allowed - See Transaction Limitations Section | Automatic | |
| 12 Month | 4.30% / 4.39% | |||||||||
| 24 Month | 4.00% / 4.07% | |||||||||
| 30 Month | 4.00% / 4.07% | |||||||||
| 48 Month | 3.70% / 3.76% | |||||||||
| 60 Month | 3.45% / 3.51% | |||||||||
 ©CUNA Mutual Group 1993, 2003, 07, 08, 10 All Rights Reserved |
03404360-D3800-C-1-042121 (TISDM0 D3800)-e |
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 Certificate, Money Saver Certificate, HSA 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. 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. For all accounts, at your option, you may choose to have dividends credited to your certificate account or paid to you by check. If you elect to have dividends paid to you by check, compounding will not apply.
4. BALANCE INFORMATION — To open any account, you must deposit or already have on deposit the minimum required share(s) in a Savings 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 Certificate, Money Saver Certificate, HSA Certificate, and IRA Certificate accounts, there is a minimum daily balance required to earn the annual percentage yield disclosed for the dividend period. If the minimum daily balance is not met each day of the period, you will not earn the annual percentage yield stated in the Rate Schedule. For accounts using the daily balance method as stated in the Rate Schedule dividends are calculated by applying 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 noncash deposits (e.g. checks) on the business day you make the deposit to your account. For all accounts, if you close your account before accrued dividends are credited, accrued dividends will not be paid.
6. TRANSACTIONS 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 Certificate, HSA Certificate, and IRA Certificate accounts, after your account is opened, you may make withdrawals of principal subject to the early withdrawal penalties stated below. Partial withdrawals of principal are allowed as long as the balance does not go below the minimum opening deposit amount; if the balance does go below the minimum opening deposit amount the account will be closed. Withdrawals of dividends are not subject to penalty. For Money Saver accounts, if you withdraw funds before the maturity date the account will be closed and all dividends earned will be forfeited. For IRA Certificate accounts, withdrawals are permitted with no penalty if you are over the age of 72.
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 funds from your account before the maturity date.
a. Amount of Penalty. For HSA Certificate accounts, the amount of the early withdrawal penalty for your account is 30 days’ dividends. For all other Certificate 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 months or greater 182 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 72 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 ten (10) days after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty.
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
© CUNA Mutual Group 1993, 2003, 07, 08, 10 All Rights Reserved
03404360-D3800-C-1-042121 (TISDM0 D3800)-e
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