Truth-in-Savings Disclosure

The Truth in Savings Act (T-I-S) is a section of the Federal Deposit Insurance Corporation Improvement Act of 1991.The National Credit Union Administration is charged with enforcing the act, which applies to ALL credit unions.

The purpose of T-I-S is to promote and simplify comparisons among accounts at all financial institutions.T-I-S enables consumers to make informed choices/comparisons among competing claims of financial institutions by requiring disclosure of the interest rates payable on these accounts and the fees assessable against these accounts.

It is the intent of Isabella Community Credit Union to maintain compliance with this federal law pertaining to full disclosure regarding the terms and conditions of all savings programs. The following disclosure information illustrates the various savings alternatives available at Isabella Community Credit Union. 

The Rate Information and Fees and Charges Schedule sets forth certain conditions, rates, fees and charges applicable to your accounts at the Isabella Community Credit Union as of January 1, 2001.That schedule is inserted as part of this disclosure.

If you have questions regarding any of the accounts offered at Isabella Community Credit Union, please let a credit union representative assist you.

Your savings at Isabella Community Credit Union are federally insured to at least $100,000 by the National Credit Union Administration (NCUA) and backed by the full faith and credit of the United States Government.

Share/Savings Account
Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.

Rate Information
As of the last dividend declaration date, if your Daily Balance was $100.00 or more, the dividend rate paid on the entire balance in your account was ____% with an annual percentage yield (APY) of ____%.  If your Daily Balance was less than $100.00, the dividend rate paid on the entire balance was 0% with an annual percentage yield (APY) of 0%.

The dividend rate and annual percentage yield (APY) may change every quarter as determined by the credit union board of directors.

Compounding and Crediting - Dividends will be compounded quarterly and will be credited quarterly. For this account type, the dividend period is quarterly (frequency), for example, the beginning date of the first dividend period of the calendar year is January 1^st and the ending date of such dividend period is March 31^st.All other dividend periods follow this same pattern of dates.The dividend declaration date follows the ending date of a dividend period, and for the example is April 1^st.

If you close your account before the dividends are paid, you will not receive the accrued dividends.

Account Restrictions and Features - The credit union reserves the right to require a member intending to make a withdrawal from any account (except a share draft account) to give written notice of such intent not less than seven days and up to 60 days before such withdrawal.

Balance Computation Method - Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

Minimum Balance Requirements - The minimum required to open this account is the purchase of a $5.00 par value share in the credit union.

Accrual of Dividends on Non-cash Deposits - Dividends will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account.

Par Value of a Share - The par value of a share is $5.00

DRAFT/CHECKING ACCOUNT

Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.

Rate Information - As of the last dividend declaration date, the dividend rate was ____% with an annual percentage yield (APY) of ____% on your account.You will be paid this rate quarterly.

Compounding and Crediting - Dividends will be compounded quarterly and will be credited quarterly.

For this account type, the dividend period is quarterly (frequency), for example, the beginning date of the first dividend period of the calendar year is January 1^st and the ending date of such dividend period is March 31^st.All other dividend periods follow this same pattern of dates.The dividend declaration date follows the ending date of a dividend period, and for the example is April 1^st.

If you close your account before dividends are paid, you will not receive the accrued dividends.

Account Restrictions and Features - The credit union reserves the right to require a member intending to make a withdrawal from any account (except a share draft account) to give written notice of such intent not less than seven days and up to 60 days before such withdrawal.

Balance Computation Method - Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

Minimum Balance Requirements - You must maintain a minimum daily balance of $1,000.00 in your account each day to obtain the disclosed annual percentage yield.

Accrual of Dividends on Non-cash Deposits - Dividends will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account.

Club Accounts (Christmas, Vacation, Youth Treasure Hunt, etc.) - Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.

Rate Information - As of the last dividend declaration date, the dividend rate was ____% with an annual percentage yield (APY) of ____% on your account.You will be paid this rate quarterly.

Compounding and Crediting - Dividends will be compounded quarterly and will be credited quarterly.

For this account type, the dividend period is quarterly (frequency), for example, the beginning date of the first dividend period of the calendar year is January 1^st and the ending date of such dividend period is March 31^st.All other dividend periods follow this same pattern of dates.The dividend declaration date follows the ending date of a dividend period, and for the example is April 1^st.

If you close your account before the dividends are paid, you will not receive the accrued dividends.

Account Restrictions and Features - The credit union reserves the right to require a member intending to make a withdrawal from any account (except a share draft account) to give written notice of such intent not less than seven days and up to 60 days before such withdrawal.

Balance Computation Method - Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

Minimum Balance Requirements - No minimum balance requirements apply to this account.

Accrual of Dividends on Non-cash Deposits - Dividends will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account.

Insured Money Market Savings Account
Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.

Rate Information
Your interest rate and annual percentage yield may change monthly. Credit Union management will determine the rate on your account no later than the first business day of each month, based on the following tiers:

$2,000.00 to $9,999.99
$10,000.00 to $24,999.99
$25,000.00 to $49,999.99
$50,000.00 and up

As of__________ , based on a balance of $______________, the interest rate for your account is ______% with an annual percentage yield of ______%.

Compounding and Crediting - Interest will be compounded every month and is credited to your account every month.If you close your account before interest is paid, you will not receive the accrued interest.

Balance Computation Method - Interest is calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day.

Account Restrictions and Features - Transaction limitations apply.Transfers from the NEW Insured Money Market Savings account to another account or to third parties by preauthorized, automatic, telephone (including audio response), or internet banking transfer are limited to six (6) per statement cycle, with no more than three (3) by check, draft, or similar order to third parties.Transactions made in person (over-the-counter) and at Automated Teller Machines (ATMs) are unlimited.Telephone or written requests for withdrawal, which result in a check payable to and mailed directly to the member, are unlimited.The minimum transaction amount is $100.00 for any over-the-counter transaction on this account.If you exceed the withdrawal or transfer limitations set forth above, your account will be subject to penalty (see Fee Schedule) and closure by the credit union.The credit union reserves the right to require a seven-day notice before withdrawal or transfer

Minimum Balance Requirements - The minimum balance required to open this account is $2,000.00.You must maintain a minimum daily balance of $2,000.00 in your account to obtain the disclosed annual percentage yield.

Accrual of Interest on Non-Cash Deposits - Interest will begin to accrue on the business day you deposit non-cash items (e.g. checks) to your account.

Premium Share Account
Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period

Rate Information - As of the last dividend declaration date, the dividend rate was ____% with an annual percentage yield (APY) of ____% on your account.You will be paid this rate quarterly.

Compounding and Crediting - Dividends will be compounded quarterly and will be credited quarterly. For this account type, the dividend period is quarterly (frequency), for example, the beginning date of the first dividend period of the calendar year is January 1^st and the ending date of such dividend period is March 31^st.All other dividend periods follow this same pattern of dates.The dividend declaration date follows the ending date of a dividend period, and for the example is April 1^st.

If you close your account before the dividends are paid, you will not receive the accrued dividends.

Account Restrictions and Features - The credit union reserves the right to require a member intending to make a withdrawal from any account (except a share draft account) to give written notice of such intent not less than seven days and up to 60 days before such withdrawal.

Balance Computation Method - Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

Minimum Balance Requirements - The minimum balance required to open this account is $1,000.00.

You must maintain a minimum daily balance of $1,000.00 in your account each day to obtain the disclosed annual percentage yield.

Accrual of Dividends on Non-cash Deposits - Dividends will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account.

IRA Account
Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.

Rate Information - As of the last dividend declaration date, the dividend rate was ____% with an annual percentage yield (APY) of ____% on your account.You will be paid this rate quarterly.

Compounding and Crediting - Dividends will be compounded quarterly and will be credited quarterly.

For this account type, the dividend period is quarterly (frequency), for example, the beginning date of the first dividend period of the calendar year is January 1^st and the ending date of such dividend period is March 31^st.All other dividend periods follow this same pattern of dates.The dividend declaration date follows the ending date of a dividend period, and for the example is April 1^st. If you close your account before the dividends are paid, you will not receive the accrued dividends.

Account Restrictions and Features - The credit union reserves the right to require a member intending to make a withdrawal from any account (except a share draft account) to give written notice of such intent not less than seven days and up to 60 days before such withdrawal.

Balance Computation Method - Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

Minimum Balance Requirements - No minimum balance requirements apply to this account.

Accrual of Dividends on Non-cash Deposits - Dividends will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account.

Certificate of Deposit

Rate Information - The interest rate on your deposit account is ____% with an annual percentage yield (APY) of ____%.For purposes of this disclosure, this is a rate and APY that were offered within the most recent seven calendar days and were accurate as of __/__/__.Please call (989) 773-5927 to obtain current rate information.You will be paid this rate until the initial maturity date of this account.

Compounding and Crediting - Interest will be compounded monthly and will be credited monthly.

Account Restrictions and Features - Additional deposits to this account, prior to maturity, are not allowed.

Balance Computation Method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

Minimum Balance Requirements - The minimum balance required to open this account is $500.00.

Accrual of Interest on Non-cash Deposits - Interest will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account.

Time Requirements - Your account will mature after 3, 6, 12, 18, 24, 36, 48 or 60 months.  Term requested_________.

Early Withdrawal Provisions - You may withdraw funds from your account, prior to maturity, only if you make a complete withdrawal and close the account.  We will impose a penalty if you withdraw any of the funds in your account before the maturity date.The penalty will equal up to 90 or 180 days of interest on your account.  The early withdrawal penalties do not apply to withdrawals after the death of any owner of the account.

Renewal Policies - Your account will automatically renew at maturity.You will have a grace period of 7 calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.

IRA Certificate of Deposit

Rate Information - The interest rate on your deposit account is ____% with an annual percentage yield (APY) of ____%.For purposes of this disclosure, this is a rate and APY that were offered within the most recent seven calendar days and were accurate as of __/__/__.Please call (989) 773-5927 to obtain current rate information.You will be paid this rate until the initial maturity date of this account.

Compounding and Crediting - Interest will be compounded monthly and will be credited monthly.

Account Restrictions and Features - Additional deposits to this account, prior to maturity, are not allowed.

Balance Computation Method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

Minimum Balance Requirements - The minimum balance required to open this account is $500.00.

Accrual of Interest on Non-cash Deposits - Interest will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account.

Time Requirements - Your account will mature after 12, 24, 36, 48 or 60 months.

Early Withdrawal Provisions - You may withdraw funds from your account, prior to maturity, only if you make a complete withdrawal and close the account.  We will impose a penalty if you withdraw any of the funds in your account before the maturity date.The penalty will equal up to 90 or 180 days of interest on your account.  The early withdrawal penalties do not apply to withdrawals after the death of any owner of the account.

Renewal Policies - Your account will automatically renew at maturity.You will have a grace period of 7 calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.

FEE Schedule (effective January 15, 2007)
The following fees may be assessed against your account: