Except as specifically described, the
following disclosures apply to all of the accounts. All accounts described in
this Rate and Fee Schedule are share accounts.
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
Certificate account, the Dividend Rate and Annual Percentage Yield are fixed and
will be in effect for the term of the account. For Share, Vacation, Christmas
Club, and IRA accounts, the Dividend Rate and Annual Percentage Yield may change
quarterly as determined by the Credit Unionís Board of Directors. For Share
Draft accounts, the Dividend Rate and Annual Percentage Yield may change monthly
as determined by the Credit Unionís Board of Directors. The Annual Percentage
Yield is based on an assumption that dividends will remain on deposit until
maturity. A withdrawal of dividends will reduce earnings.
Balance Information. The minimum balance requirements applicable to each account are set
forth in the Rate Schedule. For all Share Certificate and IRA Share Certificate
accounts, dividends are calculated by the Daily Balance method which applies a
daily periodic rate to the principal in the account each day. For all other
accounts, dividends are calculated by using an Average Daily Balance method
which applies a periodic rate to 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.
Nature of Dividends. Dividends are paid from current income and available earnings after
required transfers to reserves at the end of the dividend period.
Complete Disclosure Information