Truth in Savings Disclosures and Fee Schedule

This Disclosure and Fee Schedule sets forth certain conditions, rates, fees, and charges applicable to your deposit accounts at the Credit Union at this time.  The Credit Union may offer other rates and fees or amend the rates and fees contained in this schedule from time to time.  Each account holder agrees to the terms set forth on this Disclosure and Fee Schedule and acknowledges that it is a part of the Membership Booklet.

  Regular and Club Share Accounts Checking Accounts Money Market Accounts Term Share Certificates
Dividends Compounded Daily Daily Daily Quarterly
Dividends Credited Monthly Monthly Monthly Quarterly
Dividend Type Variable Variable Variable Fixed Until Maturity
Minimum Opening Deposit $5.00 (Membership Share*) --- $2,500.00 $1,000.00 (excluding Kid's Club Certificate which is $1,000.00)
Minimum Balance to Earn Dividends $25.00 (Regular Share Only) --- --- ---
Balance Method Daily Balance Daily Balance Daily Balance Daily Balance

Fee Schedule

Account Research $10.00/ hour Draft Copy/Check Image $1.00 Late Fee on Credit Cards $20.00 Returned ACH $25.00 Stop Payment Check $1.00
ATM/PIN Transactions
Exceeds 15 per month
$1.00 Duplicate Lien Release $5.00

Late Fee on Loans


Returned Check $25.00/ Presentment Travel Card Purchase $4.00
Cashed/Deposited Item Return $10.00 Duplicate Mortgage Satisfaction $5.00 Merchant Return $20.00 Returned Statement $1.00/ after two consecutive months of returns Travel Card Reload $2.00
CU Check/Cashier's Check made payable to others $1.00 ***Exceed Max Withdrawal on Money Market Account $15.00 Non-sufficient Funds Item-Returned or Paid $25.00 Returned E-Statement $1.00/ after two consecutive months of returns Travel/Gift Card Replacement $5.00
Debit Card Inactivated Fee $2.00/ month Foreign Check $20.00 Replacement Card $5.00 Statement Copy $1.00/ copy Wire Out Domestic $10.00
** Dormant Account $10.00 Gift Card Purchase  $2.00/ plastic $4.00 virtual Replacement Rush Mailing $25.00 Stop Payment ACH $15.00 Wire Out International $40.00

Truth in Savings Account Disclosure

Except as specifically described, the following disclosures apply to all of the accounts.

1. Rate Information.  The Dividend Rate and Annual Percentage Yield on your accounts are set forth on the reverse side.  The Dividend Rate and Annual Percentage Yield may change monthly as determined by the Board of Directors.

2.  Nature and Accrual of Dividends.  Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.  Dividends will begin to accrue on non-cash and cash deposits the business day the item is placed into your account.

3. Compounding and Crediting.  Dividends will be compounded and credited as set forth above.  The Dividend

Period for all accounts is monthly beginning on the first calendar day of the month and ending on the last calendar day of the month.  The computation will be based on 365 days per year.  Dividends are calculated by the daily   balance method, which applies a daily periodic rate to the balance each day.  If you close your account before dividends are paid you will be paid the accrued dividends for the period.

4.  Balance Information.    The minimum balance required to open each account is set forth above.  *The par value of a regular share in this Credit Union is $5.00.  The $5.00 share must be purchased and maintained to meet membership requirements.

5.  Insured Funds.  Member accounts in the Credit Union are federally insured by the National Credit Union Share Insurance Fund up to at least $250,000.00.

6. Automatically Renewable Term Share Certificate Account.  This account will automatically renew at maturity.  You may prevent renewal if you withdraw the funds in the account at maturity.  The account will renew for the current rate at the time of renewal.  You will have a grace period of 10 business days after the maturity date to withdraw funds without being charged an early withdrawal penalty.  You will be notified prior to the maturity date of your certificate.  The penalty for early withdrawal is 180 days dividends.  The penalty may be paid from dividends earned and principal.  Penalty may be waived in cases of death or permanent disability or at Credit Union discretion.  No additional deposits on certificates (except Kids Club – unlimited deposits in increments of $25). You may obtain current rates by calling us at 507-455-5430, or by visiting our web site at

7. Account Limitations.  For Share Savings, Club Savings and Money Market Accounts, you may make no more than six (6) transfers and withdrawals from your account to another account of yours or to a third party in any month by means of preauthorized, automatic or Internet transfer, by telephonic order or instruction, or by check, draft, debit card or similar order.  Maximum number of Money Market Account withdrawals is 3 per month.*** Minimum amount of withdrawal is $500.  Christmas Club Account balances will be transferred to your checking/savings in October.

9. Dormant Account.** If there has been no activity in any of your accounts for two years, your account may be considered dormant and subject to the Dormant Account fee and/or closed.

The rates appearing in this Disclosure and Fee Schedule are accurate and effective for accounts as of the effective date on the front side. If you have any question or require current rate information on accounts, please call the Credit Union.