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Disclosure of Terms - 10 Month CD

Fixed Rate CD - 10 Months
October 23, 2016

The annual percentage yield (APY) and other information is valid as of the date shown above.  If you open your account online, we must receive your deposit within ten (10) calendar days in order to ensure you receive the APY disclosed below.  If your deposit is received after ten calendar days, your account will receive the APY in effect on the day we receive the deposit and new disclosures will be mailed to you.

Rate information:

The interest rate on your account is: 0.45% with an annual percentage yield (APY) of 0.45%

You will be paid this rate until the maturity date of the certificate on August 23, 2017.

The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. Interest will be compounded daily and will be credited to the account at maturity (or paid by check). Interest begins to accrue on the business day you make your deposit.

Minimum balance requirement:

To open the account, you must deposit $1,000 or more. To obtain the annual percentage yield disclosed, you must maintain a minimum balance of $1,000 in the account each day.

Balance computation method:

We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Transaction limitations:

After the account is opened, you may not make deposits into the account until the maturity date. Withdrawals are permitted subject to the early withdrawal penalty described below.

Early withdrawal penalty:

If you withdraw any of the principal before the maturity date, a penalty equal to 90 days of interest will be charged to your account, whether earned or not. This penalty is waived in the event of the death or adjudication of incompetence of the account holder. Interest which has been credited to the account since the latter date of account opening, renewal or interest rate endorsement may be withdrawn at any time without penalty.

Renewal policy:

This account will renew automatically at maturity at the interest rate then in effect for this classification of account.

You will have a grace period of ten (10) calendar days after the maturity date to withdraw funds without penalty.