Truth-in-Savings Disclosure

1. Time Requirement/Maturity Date. Your certificate has a term as indicated above and will mature as indicated below. This is known as the maturity date.
   
   
2. Rate Information for New Certificate. This certificate allows you to earn dividends at a fixed rate on funds you leave on deposit for a specific period of time, called a "term." Dividend rates are fixed for the term and are based on dividend rates in effect at the time you make the deposit. Dividend rates vary and are determined by the amount you deposit and the term you choose. Rates for new deposits may change daily, but the rate in effect at the time you make your deposit remains fixed throughout the term. The dividend rate and corresponding annual percentage yield for your certificate are listed on the Share Certificate Truth-in-Savings Rate Schedule below. You will be paid that dividend rate and corresponding annual percentage yield until maturity. The Annual Percentage Yield is a percentage rate that reflects the total amount of dividends paid on a certificate, based on the dividend rate and the frequency of compounding for a three hundred sixty-five (365)-day period. The annual percentage yield is based on an assumption that dividends will remain in the certificate until maturity. A withdrawal will reduce earnings.
   
   
3. Compounding and Crediting. The dividends on your certificate will be compounded and credited monthly. Dividends will be paid on the last day of each month according to the option you have selected.
   
   
4. Minimum Balance Requirement. The minimum balance required to open a certificate is shown in the chart above. You must maintain that balance in that account to obtain the disclosed annual percentage yield.
   
   
5. Balance Computation Method. Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in the certificate for the period. The average daily balance is calculated by adding the balance for each day of the period and dividing that figure by the number of days in the period.
   
   
6. Accrual of Dividends. Dividends will begin to accrue on the business day you deposit cash and non-cash items (e.g. checks) to your certificate.
   
   
7. Fees and Charges. The fees and charges that may be assessed against your account are set forth on the Fee Schedule which you will receive with this Disclosure.
   
   
8. Transaction Limitations. No member may withdraw shareholdings that are pledged as required as security on loans without the written approval of the credit committee or a loan officer, except to the extent that such shares exceed the member’s total primary and contingent liability to the Credit Union. No member may withdraw any shareholding below the amount of his or her primary or contingent liability to the Credit Union if the member is delinquent as a borrower, or if borrowers for whom the member is a comaker, endorser, or guarantor are delinquent, without the written approval of the credit committee or loan officer.
   
   
9. IRA CERTIFICATES. For IRA certificates, you may make additional deposits into the account to the extent permitted by law. If you are aged seventy and one half (70-1/2) or older, you may make withdrawals from your IRA certificate and not incur an early withdrawal penalty.
   
   
10. Early Withdrawal Credit Union Penalties. Your account will mature on the date indicated on your certificate. Each time you withdraw or transfer principal from your certificate before the maturity date, we will charge you an early withdrawal penalty, except as noted in paragraph 8 above.
    
1. If your certificate has a term of one (1) year or less, you would forfeit an amount equal to thirty (30) days' worth of dividends, whether earned or not, on the amount that is withdrawn or transferred.
   
   
2. If your certificate has a term that is greater than one (1) year, you would forfeit an amount equal to ninety (90) days' worth of dividends, whether earned or not, on the amount that is withdrawn or transferred.
   
   
11. Renewal Policy. Your certificate will automatically renew at maturity. You have a grace period of ten (10) days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty. You will have to contact us before the end of the grace period if you have other instructions.
    
    
12. NATIONAL CREDIT UNION SHARE INSURANCE FUND. Member accounts in this Credit Union are federally insured by the National Credit Union Share Insurance Fund.
    

If this Share Certificate Truth-in-Savings Disclosure was given to you as a result of your request for information, please note that the dividend rates and corresponding annual percentage yields may change every Tuesday. For the most current information on certificate dividend rates and annual percentage yields, please call 930-7700 (neighbor islands call 1-800-514-2328). You may also call our phone teller system (CALL24) at 329-9440 (neighbor islands call 1-800-303-9440).