Effective February 14, 2008
|
| The following fees may be assessed against your account
and the following transaction limitations, if any, applied
to your account. |
| Share Draft Monthly Fee |
FREE |
| M.A.R.T.I.N. Audio Response |
FREE |
| Notary Services |
FREE |
| New Membership Fee |
$1.00 |
Telephone Balance Inquiry
|
$1.00 |
| Draft/Check Inquiry |
$1.00 |
Overdraft Transfer |
$1.00 |
Draft/Check Copy |
$2.50 |
| |
$2.50 |
| Home Banking |
FREE |
| PayIT Bill Pay (monthly) |
$6.00 |
| Account History Printout |
$2.50 |
| Minimum Savings Balance Fee (monthly for balance less than $25.00) |
$5.00 |
| Christmas Club Early Withdrawal |
$5.00 |
| Excess Savings Withdrawal (limit 4 free per month) |
$5.00 |
| Check/ACH Return/Courtesy Pay |
$25.00 |
| Domestic Wire Transfers (send) |
$25.00 |
| Domestic Wire Transfers (receive) |
$15.00 |
| International Wire Transfers (send) |
$35.00 |
| International Wire Transfers (receive) |
$15.00 |
| Stop Payment |
$25.00 |
| Account Research/Balancing |
$25.00 per hour |
| Non-domestic Collection Fee |
$25.00 |
| American Express Money Order |
$0.75 |
| Credit Union Teller Check |
$1.00 |
| American Express Traveler's Cheques (per $100 purchased) |
$1.00 |
Two Party Traveler's Cheques (per $100 purchased) |
$1.50 |
American Express Gift Check |
$2.50 |
ATM & Debit Card Fees
|
MMCU ATM Usage |
FREE |
Point of Sale Transaction |
$0.50 |
ATM Overdraft |
$25.00 |
Reissue of PIN Number |
$5.00 |
|
$5.00 |
ATM Balance Inquiry |
$1.00 |
|
$1.00 |
|
$1.00 |
Truth-In-Savings Disclosure
Share Savings Account and Share Draft Accounts
Except as specifically described, the following disclosures apply to all accounts. All Accounts described in this disclosure are share accounts.
- Nature of Dividends: Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period.
- Dividend Compounding and Crediting: The compounding and crediting frequency of dividends and dividend period applicable to each account are stated in the Rate Schedule. The Dividend Peroid begins on the first calendar day of the period and ends on the last calendar day of the period.
- Accrual of Dividends: For all accounts, dividends will begin to accrue on non-cash deposits (e.g. checks) on the business day you make the deposit to your account. In some cases, depending upon the type of check you deposit, funds may not be immediately available.
- Balance Information: To open any account you must deposit or already have on deposit at least par value of one full share in a Regular Share account. The par value amount is stated in the Fee Schedule. Some accounts may have additional minimum opening deposit requirements. The minimum balance requirements applicable to each account are stated in the Rate Schedule. For all accounts, there is a minimum average daily balance required to earn the annual percentage yield disclosed for the dividend period. If the minimum average daily balance is not met, you will not earn the annual percentage yield stated in the Rate Schedule. For accounts using the average daily balance method as stated on the Rate Schedule, dividends are calculated by applying a periodic rate the average daily balance in the account for the dividend period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period.
- Account Limitations: For Regular Share, Christmas Club Share, Money Market and IRA Regular Share accounts, no more than six (6) preauthorized automatic or telephone transfers may be made from each account to another account 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. If you withdraw from your Christmas Club Share account prior to November 1 you will be charged a fee as disclosed in the Fee Schedule.
Share Certificate Accounts
Except as specifically described, the following disclosures apply to all accounts. All accounts described in this disclosure are share certificate 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 all 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.
- Dividend Period: For each account the dividend period begins on the first day of the month and ends on the last day of the month.
- Dividend Compounding and Crediting: The compounding and crediting frequency of dividends are stated in the Rate Schedule.
- Balance Information: The minimum balance requirements applicable to each account are set forth in the Rate Schedule. To open any account, you must deposit or already have on deposit at least the par value of one full share in any account. The par value amount is $25.00 Some accounts may have additional minimum opening deposit requirements. For Certificate accounts, dividends are calculated by the average daily balance method, which calculates dividends by applying a periodic rate to the average daily balance in the account for the dividend period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period.
- Accrual of Dividends: For Certificate accounts, dividends will begin to accrue on noncash deposits (e.g. checks) on the business day the deposit is made to the account. If the account is closed before accrued dividends are credited, accrued dividends will not be paid.
- Transaction Limitations: For Certificate accounts, after your account is opened, you may make withdrawals subject to the early withdrawal penalties stated below.
- Maturity: Your account will mature as stated in this Truth-in-Savings Disclosure or on your account receipt or renewal notice.
- Early Withdrawal Penalty: We may impose a penalty if you withdraw from your account balance before the maturity date. Any withdrawal which reduces the account balance below the minimum balance requirement shall be considered a withdrawal of the entire account balance.
- Amount of Penalty: For 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 1 year or less |
31 days dividends |
| Terms of more than 1 year |
90 days dividends |
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 dividend has already been paid, the penalty will be deducted from the principal.
- 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 account owner 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 the establishment; or where the account provided that the depositor forfeits an amount of at least equal to the simple dividends earned in the amount withdrawn; or where the account is an IRA and the owner attains age 59 1/2 or becomes disabled.
- Renewal Policy: The renewal policy for your accounts is stated in the Rate Schedule. For Certificate accounts, your account will automatically 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.
- Nontransferable/Nonnegotiable; Your account is nontransferable and nonnegotiable.
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