Truth Savings

Except as specifically described, the following disclosures apply to all of MiddConn Municipal Federal Credit Union accounts. All accounts described in this disclosure are share accounts.

1. Rate Information

The Annual Percentage Yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. For Regular Share, Share Savings, Holiday Club, Vacation Club, IRA Share, Money Market and Classic Checking accounts, the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union's Board of Directors. The Dividend Rate and Annual Percentage Yield are prospective rates and yields

2. Nature of Dividends

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

3. Dividend Compounding and Crediting

The compounding and crediting of dividends and dividend period applicable to each account are set forth in the Rate Schedule. The Dividend Period is the period of time at the end of which an account earns dividend credit. The Dividend Period begins on the first calendar day of the period and ends on the last calendar day of the period.

4. Accrual of Dividend

For Regular Share, Kids Share, Teen Share, Share Savings, Holiday Club, Vacation Club, IRA Share, Money Market and Classic Checking accounts, dividends will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account. For Regular Share, Kids Share, Teen Share, Share Savings, Holiday Club, Vacation Club, IRA Share, Money Market and Classic Checking accounts, if you close your account before accrued dividends are credited, accrued dividends will not be paid.

5. Balance Information

The minimum balance requirements are in the Rate Schedule. For Classic Checking accounts, there is minimum daily balance required to avoid a service fee for the dividend period. If the minimum daily balance is not met, there will be a service fee as set forth on the reverse side. For Share Savings accounts, there is minimum average daily balance required to obtain the Annual Percentage Yield for the dividend period. If the minimum average daily balance is not met, you will not earn the stated Annual Percentage Yield. *For Money Market account if the average daily balance falls below $2,500.00, the Annual Percentage Rate paid on the account is the same as on regular shares. For Regular Shares, Kids Shares, Teen Shares, Share Savings, Holiday Club, Vacation Club, IRA Share, Money Market and Classic Checking accounts using an Average Daily Balance method, dividends are calculated by applying 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 principal in the account for each day of the period and dividing that figure by the number of days in the period.

6. Account Limitations

For Regular Share, Kids Share, Teen Share, Share Savings and IRA Share accounts, no more than six (6) preauthorized, automatic, or 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 check, draft, or debit card to a third party. If you exceed these limitations, your account may be subject to a fee or be closed. For a Holiday Club account, the entire balance will be paid to you by check or transferred to another account of yours on or after November 1 and the account will remain open. For Holiday Club accounts, you will be charged $8.00 for each withdrawal from the account. For Money Market accounts, you are allowed four (4) withdrawals per month; if you make more than four (4) withdrawals, then the APR paid on the account is the same as on regular shares. For Vacation Club, you are allowed 2 withdrawals per year; there is an $8.00 charge for each additional withdrawal.  For Classic Checking and Free Checking accounts, no account limitations apply.