Central Willamette Community Credit Union

TRUTH-IN-SAVINGS DISCLOSURE

Certificate Accounts

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

1. Rate Information. The Interest Rates and Annual Percentage Yields on your accounts are set forth on the Certificte Account Rate Schedule. The AnnualPercentage Yield is a percentage rate that reflects the total amount of interest to be paid on an account based on the Interest Rate and frequency of compounding for an annual period. The Interest Rate and Annual Percentage Yield are fixed and will be in effect for the term of the Account. The Annual Percentage Yield is based on an assumption that interest will remain on deposit until maturity. A withdrawal of interest will reduce earnings.
2. Compounding and Crediting. Interest will be compounded and credited as set forth on the Certificate Account Rate Schedule.
3. Balance Information. The minimum balances required to open each account are set forth on the Certificate Account Rate Schedule. Interest is calculated by the daily balance method which applies a daily periodic rate to the principal in the account each day.
4. Accrual of Interest. Interest begins to accrue on cash deposits on the business day you make the deposit to your account. Interest will begin to accrue on the business day you deposit noncash items (e.g. checks) to your account.
5. Transaction Limitations. After your account is opened, you may not make additional deposits to your account.
6. Maturity. Your account will mature within the term set forth on the Certificate Account Rate Schedule or maturity date set forth on your Account Receipt or Renewal Notice.
7. Early Withdrawal Penalty. We may impose a penalty if you withdraw any of the principal before the maturity date.
   1. Amount of Penalty. The amount of the early withdrawal penalty is based on the term of your account. The penalty schedule is as follows: 3 months to < 18 month certificate (91 - 546 days) - 90 days interest; All other certificates -  180 days interest.
   2. How the Penalty Works. The penalty is calculated as a forfeiture of part of the Interest that has been or would be earned on the account. It applies whether or not the interest has been earned. In other words, if the account has not yet earned enough interest or if the interest has already been paid, the penalty will be deducted from the principal.
   3. 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:
      1. When an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction.
      2. Where the account is an Individual Retirement Account (IRA) and any portion is paid within seven (7) days after establishment; or where the account is a Keogh Plan (Keogh) provided that the depositor forfeits an amount of at least equal to the simple interest earned in the amount withdrawn; or where the account is an IRA or Keogh and the owner attains age 59½ or becomes disabled.
8. Renewal Policy. Your accounts are automatically renewable accounts. Your account will automatically renew for another term upon maturity, and 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. The rate that is in effect on the renewal date of an automatically renewed certificate will be paid on that certificate if the certificate is closed within the 10 day grace period.
9. Nontransferable/Nonnegotiable. Your account is nontransferable and nonnegotiable. The funds in your account may not be pledged to secure any obligation of an owner, except obligations with the Credit Union.

The rates are effective as indicated on the Certificate Account Rate Schedule. If you have any questions or require current rate information on your accounts, please call the Credit Union at 541-928-4536 or at 1-800-950-4536.

FEDERALLY INSURED BY NCUA