Truth-In-Savings Disclosure 04

	Truth-In-Savings Disclosure

	Share Certificate Account Information

	Rate Information
	The initial divided rate and annual percentage yield (APY) on your share certificate account is stated on the Rate Sheet accompanying this Disclosure. The APY is based on the assumption that dividends will remain in the account until maturity. A withdrawal will reduce earnings. The certificate account has a fixed rate and you will be paid this rate and APY until maturity.

	Terms
	Please refer to our current rate sheet for available terms.

	Minimum Deposit and Balance Requirements
	The minimum balance required to open this account and avoid closure is $1000.00.

	Dividend Period
	The dividend period is quarterly. For example, the beginning date of the first dividend period of the calendar year is January 1 and the ending date is March 31. All other dividend periods follow this same pattern of dates.

	Automatic Renewal/Grace Period
	We will send you notice at least twenty-five (25) days prior to the maturity date. This account will automatically renew at maturity for the same period as the original term unless you prevent renewal by sending us written instructions stating otherwise or by withdrawing the balance at maturity or within a grace period of seven (7) calendar days after maturity. If your account automatically renews and you withdraw principal after the grace period has expired, you will be charged the early withdrawal penalty as stated below. If either you or we prevent renewal, dividends will not accrue after final maturity.

	Non-Renewable Share Certificates
	The Credit Union may offer share certificates that do not renew automatically. At maturity, principal and earned dividends will be transferred to your Strategic Savings Account.

	Transaction Limitations
	Paid dividends may be withdrawn at any time without penalty. Any funds withdrawn will not earn dividends for the current and succeeding dividend period. Withdrawal of funds representing the principal in the account is subject to the penalties described below.

	Early Withdrawal Penalty
	A penalty may be imposed for withdrawals before maturity. The penalty imposed shall be as follows: If the qualifying period is one year or less, the member shall forfeit an amount equal to all dividends for 90 days on the amount withdrawn, or all dividends on the amount withdrawn since the date of issuance or renewal whichever is less, or if a withdrawal reduces the balance below the required minimum, the account shall be closed and a loss of dividends as in a or b above, whichever is less, will be assessed on the entire amount in the account. If the qualifying period is more than one year, the member shall forfeit an amount equal to all dividends for 180 days on the amount withdrawn, or all dividends on the amount withdrawn since the date of issuance or renewal, whichever is less, or if a withdrawal reduces the balance below the required minimum, the account shall be closed and a loss of dividends as in a or b above, whichever is less, will be assessed on the entire amount in the account. Early withdrawal penalties shall not apply for 1) accounts which are part of a pension plan which qualifies or qualified for specific tax treatment under Section 401(d) or 408 of the Internal Revenue Code and withdrawal is made to effect a lawful distribution of the funds evidenced by such account following the participant's death or disability or upon attaining 70? years of age; or 2) the withdrawal is made subsequent to the death of any owner of the certificate or is made pursuant to the Credit Union's bylaws; 3) such withdrawal is made as a result of the voluntary or involuntary liquidation of the Credit Union.

	Certificate Account Types

	Strategic Yield Certificates
	Dividend Compounding and Crediting: Dividends will be credited quarterly and at maturity. At your option, dividends may compound daily on your Certificate Account. If you choose not to have dividends compound, we will, at your option, either mail you dividends quarterly or credit dividends to your Strategic Savings Account or Fast Track Checking Account as you elect.

	IRA Share Certificate
	Dividend Compounding and Crediting: Dividends will be compounded daily and posted quarterly and at maturity. Transaction Limitations: Certain federal and state penalties may apply if IRA funds (including dividends earned on IRA funds) are withdrawn early. The maximum yearly contribution you may make to an IRA account is limited under the Internal Revenue Code. See your IRA account application and agreement for details.

	IRA Conversions
	Based on the applicable certificate terms and amount, a penalty will be assessed for a request for a conversion of an IRA Traditional Certificate to or from a Roth IRA Certificate during the certificate term, prior to the maturity date.