Common use of Early Withdrawal Penalties Clause in Contracts

Early Withdrawal Penalties. If you wish to make a withdrawal of principal (including dividends earned during previous term(s)) before maturity, the entire amount in your Account must be withdrawn and the Account will be closed, incurring a penalty. The amount of the penalty is disclosed on the Rates & Fees Schedule. The penalty is calculated as a forfeiture of part of the dividends that have been or would have been earned on the account, and applies whether or not the dividends have been earned. The penalty may be deducted from the principal amount of the deposit. The Annual Percentage Yield disclosed for your account is based on an assumption that dividends will remain in the account until maturity; a withdrawal will reduce earnings. Early withdrawal penalties may be permitted or reduced for IRA accounts or other accounts if applicable law allows. Renewal Policies. Your term share account may or may not automatically renew at maturity as indicated on the Rates & Fees Schedule. If it automatically renews you will have a grace period, also indicated on the Rates & Fees Schedule, in which you may withdraw or transfer the funds without incurring an Early Withdrawal Penalty. If the account does not automatically renew, the Rates & Fees Schedule or the Account Receipt will indicate whether dividends will continue to accrue after maturity. Bonuses. You may receive a bonus on your term account if we offer such feature. Details of the amount of the bonus and the conditions to receive the bonus will be disclosed to you on the Rates & Fees Schedule or at the time you open your account.

Early Withdrawal Penalties. If We will impose a penalty if you wish to make a withdrawal withdraw any of the principal (including dividends earned during previous term(s)) amount of your Term Share Certificate Account before maturity, the entire amount in your Account must be withdrawn and the Account will be closed, incurring a penaltymaturity date. The amount of the penalty is disclosed based on the Rates & Fees Schedulecurrent term of your Account. The penalty schedule is as follows: Term of 12 months or less: 90 Days Dividends Term of more than 12 months: 180 Days Dividends How the Penalty Works The penalty is calculated as a forfeiture of part of the dividends that have has been or would have been earned on the account, and Account. The penalty applies whether or not the dividends have been earned. The That is, if the Account has not yet earned enough dividends to pay the penalty, or if the dividends earned have already been withdrawn, then the penalty may will be deducted collected from the principal amount of the depositTerm Share Certificate Account. The Annual Percentage Yield disclosed for your account is based on In certain circumstances such as the death, disability, or legal incapacity of an assumption that dividends will remain in Account owner, the account until maturity; a early withdrawal will reduce earnings. Early withdrawal penalties penalty may be permitted or reduced for IRA accounts or other accounts if applicable law allowswaived. Renewal Policies. Policy Your term share account may or may not Term Share Certificate Account will automatically renew at maturity for an equivalent term and generally under the same terms and conditions as indicated on set forth herein, except that the Rates & Fees Scheduledividend rate for the renewal term will be the current rate the Credit Union is offering at the time of renewal for Term Share Certificate Accounts with a similar term and principal amount. We will notify you before maturity of the dividend rate and APY for the new term and if there will be any other changes to the terms of the Account. If it automatically renews you decide not to renew, you will have a grace period of five calendar days after the maturity date to withdraw the funds in the Account without being charged an early withdrawal penalty. If you instruct us in writing before the end of the grace period not to renew your certificate, and you do not withdraw the funds before the end of the grace period, also indicated on the Rates & Fees Schedule, in which you may withdraw or transfer the funds will be automatically transferred to your primary Savings Account and will be available for withdrawal by any person authorized to withdraw on your primary Savings Account. TRUTH IN SAVINGS FEE SCHEDULE Fees are subject to change at any time, subject to applicable law. Fees Applicable to All Accounts Temporary Check $.50 per check Cashier’s Check $3 per check Wire Transfer (domestic outgoing)… $25 per transaction Wire Transfer (international outgoing)… $25 per transaction plus any correspondent Institution charges Nonsufficient Funds Preauthorized Withdrawal $25 per payment order Nonsufficient Funds ACH/EFT $25 per payment order Printout… $1 per page Account Opening Fee $10 Account Research (Minimum 1 hr.)… $15 per hour Account Balancing (Minimum One Hour)… $15 per hour Stop Payment (All Items and ACH Payments)… $25 per stop order Photocopy $20 per copy Check $3 per copy Copy of Statement… $1 per page Address Search Fee $3 per instance Employee Assistance Service Fee $1 per transaction Lien Garnishment/Levy Fee $25 per instance Inactive Account Fee $5 per month without incurring an activity Electronic Cash Management (ECM Payment) $12 per transaction Electronic Cash Management Nonsufficient Funds $25 per transaction Notary Fee (ACFCU Member) $5 per visit Notary Fee (Non Member) $5 per visit Early close account fee (closed before being open 6 months) $5 Automatic Overdraft from Savings to checking $2 per transfer Monthly Paper Statement (Accounts opened after1/1/2018) $5 per month Monthly Electronic Statement FREE Checking and Money Market Investment Account Fees Check Printing fee depends on check style ordered Checking Account Fee $6 per month Business Checking Account Fee $25 per month Money Market Investment Account Fall Below Fee $15 per month Money Market Excessive Transfer Fee $5 per transaction Deposited Checks and Other Items Returned Unpaid……………………………… $10 per payment order or item Nonsufficient Funds Item (including CU Succeed Checking) $25 per item Overdraft Courtesy Fee $25 per item Electronic Fund Transfer Fees Replace Lost ATM or Check Card $15 per card ATM Cash Withdrawal Penalty. If the account does from Savings or Checking Account (at ATMs we do not automatically renewown or operate) $1 per Withdrawal Balance Inquiry at ATM (at ATMs we do not own or operate) $1 per inquiry ATM or Check Card Insufficient Funds Transaction $25 per transaction ATM Film Research $75 per instance plus our costs Online banking bank to bank transfer… $25 per transaction The Overdraft Courtesy Fee is imposed for overdrafts created by checks, the Rates & Fees Schedule or the Account Receipt will indicate whether dividends will continue to accrue after maturity. Bonusesin-person withdrawals, ATM withdrawals, and by other electronic means. You may receive a bonus on must separately opt-in if you qualify for the Overdraft service and wish to have the service apply to your term account if we offer such feature. Details of the amount of the bonus ATM and the conditions to receive the bonus will be disclosed to you on the Rates & Fees Schedule or at the one-time you open your accountcheck card transactions.

Early Withdrawal Penalties. If We will impose a penalty if you wish to make a withdrawal withdraw any of the principal (including dividends earned during previous term(s)) amount of your Term Share Certificate Account before maturity, the entire amount in your Account must be withdrawn and the Account will be closed, incurring a penaltymaturity date. The amount of the penalty is disclosed based on the Rates & Fees Schedulecurrent term of your Account. The penalty schedule is as follows: Term of 12 months or less: 90 Days Dividends Term of more than 12 months: 180 Days Dividends How the Penalty Works The penalty is calculated as a forfeiture of part of the dividends that have has been or would have been earned on the account, and Account. The penalty applies whether or not the dividends have been earned. The That is, if the Account has not yet earned enough dividends to pay the penalty, or if the dividends earned have already been withdrawn, then the penalty may will be deducted collected from the principal amount of the depositTerm Share Certificate Account. The Annual Percentage Yield disclosed for your account is based on In certain circumstances such as the death, disability, or legal incapacity of an assumption that dividends will remain in Account owner, the account until maturity; a early withdrawal will reduce earnings. Early withdrawal penalties penalty may be permitted or reduced for IRA accounts or other accounts if applicable law allowswaived. Renewal Policies. Policy Your term share account may or may not Term Share Certificate Account will automatically renew at maturity for an equivalent term and generally under the same terms and conditions as indicated on set forth herein, except that the Rates & Fees Scheduledividend rate for the renewal term will be the current rate the Credit Union is offering at the time of renewal for Term Share Certificate Accounts with a similar term and principal amount. We will notify you before maturity of the dividend rate and APY for the new term and if there will be any other changes to the terms of the Account. If it automatically renews you decide not to renew, you will have a grace period of five calendar days after the maturity date to withdraw the funds in the Account without being charged an early withdrawal penalty. If you instruct us in writing before the end of the grace period not to renew your certificate, and you do not withdraw the funds before the end of the grace period, also indicated on the Rates & Fees Schedule, in which you may withdraw or transfer the funds will be automatically transferred to your primary Savings Account and will be available for withdrawal by any person authorized to withdraw on your primary Savings Account. TRUTH IN SAVINGS FEE SCHEDULE Fees are subject to change at any time, subject to applicable law. Fees Applicable to All Accounts Temporary Check $.50 per check Cashier’s Check… $3 per check Wire Transfer (domesticoutgoing) $25 per transaction Wire Transfer (international outgoing)… $25 per transaction plus any correspondent Institution charges Nonsufficient Funds Preauthorized Withdrawal $25 per payment order Nonsufficient Funds ACH/EFT $25 per payment order Printout $1 per page Account Opening Fee $10 Account Research (Minimum 1 hr.)… $15 per hour Account Balancing (Minimum One Hour)… $15 per hour Stop Payment (All Items and ACH Payments)… $25 per stop order Photocopy $20 per copy Check $3 per copy Copy of Statement $1 per page Address Search Fee $3 per instance Employee Assistance Service Fee $1 per transaction Lien Garnishment/Levy Fee $25 per instance Inactive Account Fee $5 per month without incurring an activity Electronic Cash Management (ECM Payment) $12 per transaction Electronic Cash Management Nonsufficient Funds $25 per transaction Notary Fee (ACFCU Member) $5 per visit Notary Fee (Non Member) $5 per visit Early close account fee (closed before being open 6 months) $5 Automatic Overdraft from Savings to checking $2 per transfer Monthly Paper Statement (Accounts opened after1/1/2018) $5 per month Monthly Electronic Statement FREE Checking, Money Market Investment, and Christmas Club Account Fees Check Printing fee depends on check style ordered Checking Account Fee $6 per month Business Checking Account Fee $25 per month Money Market Investment AccountFall Below Fee $15 per month Money Market Excessive Transfer Fee $5 per transaction Deposited Checks and Other Items Returned Unpaid……………………………… $10 per payment order or item Nonsufficient Funds Item (including CUSucceed Checking) $25 per item Overdraft Courtesy Fee1 $25 per item Christmas Club Early Withdrawal Penalty. If the account does Fee $25 per withdrawal Electronic Fund Transfer Fees Replace Lost ATM or Check Card… $15 per card ATM Cash Withdrawal from Savings or Checking Account (at ATMs we do not automatically renewown or operate) $1 per Withdrawal Balance Inquiry at ATM (at ATMs we do not own or operate) $1 per inquiry ATM or Check Card Insufficient Funds Transaction $25 per transaction ATM Film Research $75 per instance plus our costs Online banking bank to bank transfer… $25 per transaction The Overdraft Courtesy Fee is imposed for overdrafts created by checks, the Rates & Fees Schedule or the Account Receipt will indicate whether dividends will continue to accrue after maturity. Bonusesin-person withdrawals, ATM withdrawals, and by other electronic means. You may receive a bonus on must separately opt-in if you qualify for the Overdraft service and wish to have the service apply to your term account if we offer such feature. Details of the amount of the bonus ATM and the conditions to receive the bonus will be disclosed to you on the Rates & Fees Schedule or at the one-time you open your accountcheck card transactions.