Savings And Checking Truth-In-Savings Disclosure

1. Rate Information. The dividend rate and Annual Percentage Yield on your accounts are set forth on the Savings and Checking Account Rates page. For dividend bearing accounts, the dividend rate and Annual Percentage Yield may change monthly as determined by Harborstone Credit Union's Asset Liability Committee (ALCO). Specific qualification requirements for the BreakFree account are described in paragraph 7.

2. Nature of Dividends. Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period. The dividend rate and Annual Percentage Yield set forth above are accurate as of the effective date, which the credit union anticipates paying for the applicable dividend period.

3. Compounding and Crediting. Dividends will be compounded and credited as set forth on the Savings and Checking Account Rates page. The dividend period for Ultimate Value and Jet Set checking accounts is monthly beginning on the first calendar day of the month and ending on the last calendar day of the month. The dividend period for BreakFree checking is monthly beginning on the first calendar day of the month and ending on the last calendar day of the month following the prior statement cycle in which the criteria of 12 Visa debit and two Online Bill Pay transactions were met. The dividend period for dividend-bearing savings accounts is quarterly, beginning on the first calendar day of the quarter and ending on the last calendar day of the quarter.

4. Accrual of Dividends. Dividends will begin to accrue on non-cash deposits (e.g. checks) within two (2) business days of deposit but no later than the date we receive provisional credit. If you close your account before accrued dividends are credited, accrued dividends will not be paid.

5. Balance Information. The minimum balance required to open each account is set on the Savings and Checking Account Rates page. The minimum monthly balance is required to avoid a service fee and obtain the stated Annual Percentage Yield. For Jet Set Checking, BreakFree Checking (if requirements are met the preceding month), Ultimate Value Checking, and savings accounts, the dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in the account for the period.  The average daily balance is determined by adding the full amount of the principal in the account for each day of the period and dividing that figure by the number of days in the period. The minimum balance to avoid a service fee must be maintained each day of the dividend period.

6. Account Limitations. The account limitations for each account are set forth on the Savings and Checking Account Rates page. For savings accounts, transaction limitations will apply. No more than six (6) preauthorized automatic, 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 debit to a third party. If you exceed these limitations, your account may be subject to a fee or be closed. For Holiday and Set Aside Savings accounts, you may withdraw any funds in the first seven days of account opening without penalty or restriction. After that seven day period, withdrawals are restricted.
   
7. BreakFree Dividend Rate and Qualification Requirements. The BreakFree Qualified Dividend rate will be paid on the last business day of the following month provided that the criteria of 12 VISA debit transactions and two Online Bill Pay transactions are met. Transactions must post during the busines month. If account requirements are met, the Qualified Dividend rate will be paid on the first $50,000 of the member's average daily balance and any qualified balance $50,000.01 and above will earn the above cap rate. If account requirements are not met, the members entire balance will earn the non-qualified rate.

Additional Rate and Fee Information

Please review and keep with your records.

The rates appearing in the Rate and Fee Schedule are the accurate rates in effect for savings and checking accounts as of the effective date indicated on the Savings and Checking Accounts Rates page. Harborstone Credit Union may offer other rates or may amend the rates contained in this schedule at anytime. If you have any questions about your accounts, please call Money Express™ or member service at (253) 584-2260 or toll-free at 1-800-523-3641.

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