TRUTH IN SAVINGS DISCLOSURE

I. Share Savings Account and Share Draft Accounts

Except as specifically described, the following disclosures apply to all the 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 Share Savings, Christmas Savings, IRA Savings, Junior Savings and Young Adult Savings accounts, the Dividend Rate and Annual Percentage Yield may change quarterly as determined by the Credit Union’s Board of Directors. For Money Market Draft, Value Plus Checking and Young Adult Checking accounts, the Dividend Rand and Annual Percentage Yields are the rates and yield as of the last dividend declaration date, which is set forth in the Rate Schedule.
   
   
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 frequency of dividends and dividend period applicable to each account are stated 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 Dividends: For all accounts, dividends will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account. If you close your account before accrued dividends are credited, you will not receive the accrued dividends.
   
   
5. Balance Information: To open any account you must deposit or already have on deposit at least par value of one full share in a Share account. The par value amount is stated in the Fee Schedule. Some accounts may have additional minimum opening deposit requirements. The minimum balance requirements applicable to each account are stated in the Rate Schedule. For Money Market Accounts, there is a minimum Average Daily Balance required to avoid a service fee for the dividend period. If the minimum Average Daily Balance is not met during the dividend period, there will be a service fee as stated in the Rate Schedule. For Share Savings, Money Market Draft, and Value Plus Checking accounts, there is a minimum Average Daily Balance required to earn the Annual Percentage Yield disclosed for the dividend period. If the minimum average daily balance is not met, you will not earn the Annual Percentage Yield stated in the Rate Schedule. For accounts using the Average Daily Balance method as stated on the Rate Schedule, dividends are calculated by applying a periodic rate to the Average Daily Balance in the account for the dividend period. The Average Daily Balance is calculated by adding the balance 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 Share Savings, Junior Savings and Young Adult Savings accounts, no more than six (6) preauthorized automatic, or telephone transfers may be made from each account to another account 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 closed. For Share Savings, Junior Savings and Young Adult Savings accounts, you will be charged a fee as disclosed in the Fee Schedule for any withdrawal or transfer from your account in the excess of four (4) per month. For Christmas Savings accounts, the entire balance will be paid to you by check on or after November 1st and the account will remain open. You may not make withdrawals from your account at any time. If you wish to access the funds in your Christmas Savings accounts you may close it. For IRA Savings accounts, you will be charged a fee as diclosed in the Fee Schedule for any withdrawal you make within 90 days of account opening. For Money Market Draft Accounts, you will be charged a fee as disclosed in the Fee Schedule for any withdrawal or transfer in excess of three (3) per month. The minimum amount for any withdrawal from your Money Market Draft account is $500.00. For Checking, Value Plus Checking and Young Adult Checking accounts, no account limitations apply.
   
   
7. Fees for Overdrawing Accounts: Fees may be imposed on each check, draft, item, ATM card withdrawal, debit card point of purchases, preauthorized automatic debit, telephone initiated withdrawal or any other electronic withdrawal or transfer transaction that is drawn on an insufficient available account balance. The entire balance in your account may not be available for withdrawal, transfer or paying a check, draft or item. You may consult the Funds Availability Policy for information regarding the availability of funds in your account. Fees for overdrawing your account may be imposed regardless of whether we pay or return the draft, item or transaction. If we approve an overdraft protection limit for your account, such fees may reduce your approved limit. Please refer to the Fee Schedule for current fee information.

FUNDS AVAILABILITY POLICY

This policy describes the ability to withdraw funds at LeTourneau Federal Credit Union. It only applies to the availability of funds in transaction accounts. The Credit Union reserves the right to delay the availability of funds deposited to accounts that are not transaction accounts, for periods longer than those disclosed in this policy.

1. GENERAL POLICY-Our policy is to make funds from members’ cash and check deposits available to them on the same business day that we receive the deposit. Electronic direct deposits will be available on the day we receive the deposit. Once they are available, the member can withdraw the funds in cash and we will use the funds to pay checks that the member has written. For determining the availability of member deposits, everyday is a business day except Saturdays, Sundays, and Federal holidays. If a member makes a deposit after 5:00 or on a day we are not open, we will consider that the deposit was made on the next business day that we are open.
   
   
2. RESERVATION OF RIGHT TO HOLD-In some cases, we will not make all of the funds that the member deposits by check available to them on the same business day that we receive the deposit. Funds may not be available until the second business day after the deposit was made. However, the first $100.00 of the deposit will be available on the first business day after the day of the deposit. If we are not going to make all of the funds from the deposit available on the same business day, we will notify the member at the time they make the deposit. We will also tell the member when the funds will be available. If the deposit is not made directly to a Credit Union employee or if we decide to take this action after the member has left the premises, we will mail the member a notice by the next business day after we receive the deposit. If the member needs the funds from a deposit right away, the member should ask a Credit Union employee when the funds will be available.
   
   
3. HOLDS ON OTHER FUNDS-If we cash a check for a member that is drawn on another financial institution, we may withhold the availability of a corresponding amount of the funds that are already in the member’s account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it. If we accept for deposit a check that is drawn on another financial institution, we may make funds from the deposit available for withdrawal immediately but delay member availability to withdraw a corresponding amount of funds that they have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that the member deposited.
   
   
4. LONGER DELAYS MAY APPLY-We may delay member ability to withdraw funds deposited by check into their account an additional number of days for these reasons:
   1. We believe a check the member deposits will not be paid.
   2. The member deposits checks totaling more than $5,000.00 on any one day.
   3. The member deposits a check that has been returned unpaid.
   4. The member has overdrawn their account repeatedly in the last six months.
   5. There is an emergency, such as failure of communications or computer equipment.

   We will notify the member if we delay their ability to withdraw funds for any
   of these reasons, and we will tell the member when the funds will be
   available. They will generally be available no later than the eleventh business
   day after the day of the deposit.

5. SPECIAL RULES FOR NEW ACCOUNTS-If the member is a new member, the following special rules may apply during the first 30 days the new account is open.
   
   Funds from electronic direct deposits to the new account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,000.00 of a day’s total deposits of cashier’s, certified, teller’s, traveler’s, and federal, state, and local government checks will be available on the next business day after the day of member’s deposit if the deposit meets certain conditions. For example, the checks must be payable to the member. The excess over $5,000.00 will be available on the ninth business day after the day of the deposit. If the member’s deposit of these checks (other than a U. S. Treasury check) is not made in person to one of the Credit Union’s employees, the first $5,000.00 will not be available until the second business day after the day of the deposit. Funds from all other check deposits will be available on the ninth business day after the day of the deposit.
   
   
6. FOREIGN CHECKS-Checks drawn on financial institutions located outside the U. S. (foreign checks) cannot be processed the same as checks drawn on U. S. financial institutions. Foreign checks are exempt from the policies outlined in this disclosure. Generally, the availability of funds for deposits of foreign checks will be delayed for the time it takes us to collect the funds from the financial institutions upon which it is drawn.