Rates & Fees

As explained in the Member Service Agreement, the Rates & Service Charges disclosure applies to all the accounts we offer. Except as specifically described, the following terms apply to all of the accounts you have with us.

1. Rate Information

The Dividend Rate and Annual Percentage Yield on the accounts are set forth above. For all accounts except certificates, the Dividend Rate and Annual Percentage Yield may change at any time as determined by the Board of Directors. Premier Savings, Money Market, and IRA accounts are Tiered Rate Accounts. For these accounts, if the account balance falls within a particular tier, the dividend rate for that tier will be paid on the entire balance in the account.

The Dividend Rates and Annual Percentage Yields are the prospective rates as of the effective date shown above. For Certificate Accounts, the Dividend Rate and Annual Percentage Yield are fixed and will be in effect for the term of the account. For Certificate accounts, 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. Nature of Dividends

Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period. The Dividend Rate and Annual Percentage Yield identified above are the rates and yields for the last dividend period, as shown above.

3. Compounding and Crediting

Dividends will be compounded and credited as set forth above. For dividend bearing accounts, the Dividend Period begins on the first calendar day of the period and ends on the last calendar day of the period. For Certificate accounts the dividends are com‐ pounded and credited to the account on the day of the month the Certificate was opened.

4. Accrual of Dividends

Dividends will begin to accrue on all deposits on the business day you make the deposit to the account. If you close the account be‐ fore accrued dividends are credited, accrued dividends will not be paid, except for certificate accounts. If you close a certificate ac‐ count, we will pay accrued dividends.

5. Balance Information

The minimum balance required to open each account and earn the stated Annual Percentage Yield is set forth above. If you do not maintain the minimum balance, you will not earn the stated Annual Percentage Yield. For all accounts, dividends are calculated by using the Daily Balance method, which applies a daily periodic rate to the balance in the account each day.

6. Certificate Account Features

a) Account Limitations -After you start the account, you may not make additional deposits to a Certificate Account.

b) Maturity -The Certificate Account you have with us will mature on the maturity date identified on your Account Receipt or Renewal Notice.*

c) Early Withdrawal Penalty -We may impose a penalty if you withdraw any of the principal of the Certificate Account before the maturity date.

1) Amount of Penalty. The amount of the penalty depends on the term of the certificate. For certificate terms of one year or less, the penalty equals 90 days’ dividends on the balance of the entire certificate. For certificate terms of more than one year, the penalty equals 180 days’ dividends on the entire amount of the certificate.

2) How the Penalty Works. The penalty is calculated as a forfeiture of part or all of the dividends that have been earned. If the account has not yet earned enough dividends or if the dividend has already been paid, the penalty will be deducted from the principal.

3) 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: when an owner on an account dies or is determined legally incompetent by a court or other body of competent jurisdiction. Where the account is an Individual Retirement Account (IRA) and any portion is paid within seven (7) days after establishment or where the account is an IRA and the owner attains age 59½ or becomes disabled and begins making periodic withdrawals.

d) Renewal Policy Certificate Accounts are automatically renewable accounts. Automatically renewable accounts will renew for another term upon maturity. 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.

e) Nontransferable/Nonnegotiable The account(s) you have with us is/are nontransferable and nonnegotiable. This means that an account and the funds in the account may not be pledged to secure any obligation of an owner, except obligations with the Credit Union.

7. Health Savings Account Terms

All transactions posted to the Health Savings Account made by online banking or other transaction will be reported to the IRS as current year, normal distributions or regular contributions. Any request for a Prior Year Contribution, Direct Transfer or Rollover of HSA or Archer Medical Savings Account funds must be made in writing to a Credit Union representative, either in person or through the mail.

It is your responsibility to know if you qualify for an HSA and to use the funds for qualified medical expenses. Please refer to a tax professional for specific tax implications.

We may permit you to access the HSA with a debit card. If we do permit such access, it is for the convenience of managing the HSA. You may use your HSA debit card to purchase goods and services any place your Card is honored by participating merchants. Funds to cover your HSA debit card purchases will be deducted from the HSA.

An HSA debit card purchase may not be authorized if the amount of purchase exceeds the available balance in the account at the time the authorization is requested. If the balance in the account is not sufficient to pay the transaction amount, the account will be subject to a charge as set forth in “Our Service Charges,” and the Credit Union may terminate all services under this Agreement. If an overdraft is created, you agree to repay it immediately.

Except as otherwise set forth herein, HSA debit card transactions are subject to the terms and conditions of the Electronic Funds Transfer provisions in the Member Service Agreement, Part 2.