Truth in Savings Act
The Truth in Savings Act (T-I-S) is a section of the Federal Deposit Insurance Corporation Improvement Act of 1991. The National Credit Union Administration is charged with enforcing the act which applies to ALL credit unions.

The purpose of T-I-S is to promote and simplify comparisons among accounts at all financial institutions. T-I-S enables consumers to make informed choices/comparisons among competing claims of financial institutions by requiring disclosure of the interest rates payable on these accounts and the fees assessable against these accounts.

It is the intent of BI-County PTC Federal Credit Union to maintain compliance with this federal law pertaining to full disclosure regarding the terms and conditions of all savings programs.

The following disclosure information illustrates the various savings alternatives available at BI-County PTC Federal Credit Union.
The Rate Information and Fees and Charges Schedule sets forth certain conditions, rates, fees and charges applicable to your accounts at the BI-County PTC Federal Credit Union as of January 1, 2005. That schedule is incorporated as part of this disclosure.

If you have questions regarding any of the accounts offered at BI-County PTC Federal Credit Union, please let a credit union representative assist you.

Savings at BI-County PTC Federal Credit Union are federally insured up to $100,000 by the National Credit Union Administration, a U.S. Government agency.

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

Compounding and Crediting
Dividends will be compounded quarterly and will be credited quarterly. If you close your account before dividends are paid, you will not receive the accrued dividends.

Account Restrictions and Features
Charges: Charges relating to the use of electronic fund transfers shall be as follows:

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

Compounding and Crediting
Dividends will be compounded quarterly and will be credited quarterly.

For this account type, the dividend period is quarterly, for example, the beginning date of the first dividend period of the calendar year is 1/1/95 and the ending date of such dividend period is 3/31/95. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period, and for the example is 4/1/95.

If you close your account before dividends are paid, you will not receive the accrued dividends.

Account Restrictions and Features
No partial withdrawals-balance withdrawn on November 1st of each year.

Balance Computation Method
Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in the account for the 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.

Accrual of Dividends on Non-Cash Deposits
Dividends will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account.

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

Compounding and Crediting
Dividends will be compounded quarterly and will be credited quarterly.

For this account type, the dividend period is quarterly, for example, the beginning date of the first dividend period of the calendar year is 1/1/95 and the ending date of such dividend period is 3/31/95. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period, and for the example is 4/1/95.

Credited dividends will be available for withdrawal without penalty. The annual percentage yield (APY) is based on an assumption that dividends will remain in the account until maturity. A withdrawal will reduce earnings.

Minimum Balance Requirements
The minimum balance required to open this account is $500.00.

Account Restrictions and Features
Additional deposits to this account, prior to maturity, are not allowed.

Balance Computation Method
Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in the account for the 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.

Accrual of Dividends on Non-Cash Deposits Dividends will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account.

Early Withdrawal Provisions
We will impose a penalty if you withdraw any of the funds n your account before the maturity date. The penalty will equal 90 days of dividends on your account.

The early withdrawal penalties do not apply to withdrawals after the death of any owner of the account.

Renewal Policies
Your term share account will automatically renew at maturity. You will have a grace period of 10 business days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.

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Rate and Fee Schedule
Share Account
As of the last dividend declaration date, the dividend rate was 30% with an annual percentage yield (APY) of __% on your account. The dividend rate and annual percentage yield (APY) on this account may change every quarter as determined by our board of directors.

Share Draft Account
No dividends are paid on this account.
Christmas Club Account As of the last dividend declaration date, the dividend rate was __% with an annual percentage yield (APY) of __% on your account. The dividend rate and annual percentage yield (APY) on this account may change every quarter as determined by our board of directors.

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

The dividend rate on your term share account is __% with an annual percentage yield (APY) of __%. For purposes of this disclosure, this is a rate and APY that were offered within the most recent seven calendar days and were accurate as of __/__/__ Please call (586) 754-4214 to obtain current rate information. The dividend rate and annual percentage yield (APY) may change every __30 Days__ based on the determination of the credit union board of directors.

6 month term accounts 1.5% 1.51% APY

12 month term accounts 1.5.0% 1.5% APY

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