680 Union Street, Hobart, Indiana 46342    

           Officially Chartered in 1960                                      Contact Us at: 800-543-5785      Fax: 219-942-3447                

TRUTH IN SAVINGS ACCOUNT DISCLOSURES


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 Share, Club and IRA accounts, the Dividend Rate and Annual Percentage Yield may change quarterly as determined by the Credit union's Board of Directors.  For Share Draft accounts, the Dividend Rate and Annual Percentage yield may change at any time as determined by the Credit Union's board of Directors.  The Dividend Rates and Annual Percentage Yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period.  The Share and Club accounts are Tiered Rate accounts.  If your account balance is $2,000.00 or below, the first Dividend Rate and Annual Percentage Yield is listed for this account in the Rate Schedule will apply.  If your account balance is greater than $2,000.00, the second Dividend Rate and range of Annual Percentage Yields listed for this account will apply.  Each Dividend Rate will apply only to that portion of the account balance within each balance range
 
2. Nature of Dividends.  Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period.
 
3. Dividend Compounding and Crediting.  The compounding and crediting of dividends and dividend period applicable to each account are set forth in the Rate Schedule.  The Dividend Period is the period of time at the end of which an account earns dividend credit.  The Dividend Period begins on the first calendar day of the period and ends on the last calendar day of the period.
 
4. 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.  If you close your account before accrued dividends are credited, you will not receive the accrued dividends.  Accrued dividends may not be credited to accounts that are closed prior to the last calendar day of the dividend period.
 
5.  Balance Information.  The minimum balance requirements applicable to each account are set forth in the Rate Schedule.  For Share Draft accounts, there is a minimum daily balance required to obtain the Annual Percentage Yield for the dividend period.  If the minimum daily balance is not met, you will not earn the stated Annual Percentage Yield.  For all accounts using a Daily Balance method, dividends are calculated by applying a daily periodic rate to the principal in the account each day.
 
6.  Account Limitations.  For all accounts, no more than six (6) preauthorized, automatic, or telephone transfers may be made from these accounts to another account of yours or to a third party in any month, and no more than three (3) of these six (6) transfers may be made by check, draft, or debit card to a third party.  If you exceed these limitations, your account may be subject to a fee or be closed.

7. Fees for Overdrawing Accounts. Fees may be imposed on each check, draft item, ATM card withdrawal, debit card point of purchase, preauthorized automatic debit, telephone initiated withdrawal or any other electronic withdrawal or transfer transaction that is drawn on an insufficient available account balance. The entire balance in your account may not be available for withdrawal, transfer or paying a check, draft or item. You may consult the Funds Availability Policy for information regarding the availability of funds in your account. Fees for overdrawing your account may be imposed for each overdraft, regardless of whether we pay or return the overdraft, item or transaction. If we have approved an overdraft protection limit for your account, such fees may reduce your approved limit. Please refer to the Fee Schedule for current fee information.


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