Common use of SAVINGS AND FUNDS AVAILABILITY DISCLOSURE Clause in Contracts

SAVINGS AND FUNDS AVAILABILITY DISCLOSURE. The Truth-in-Savings Act (TIS) is a section of the Federal Deposit Insurance Corporation Improvement Act of 1991. The National Credit Union Administration (NCUA) is charged with enforcing this Act, which applies to all credit unions. The purpose of TIS is to promote and simplify comparisons among accounts at all financial institutions. TIS enables consumers to make informed choices and 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 Michigan State University Federal Credit Union (MSUFCU) to maintain compliance with this federal law pertaining to disclosure of the terms and conditions of all savings programs. The following disclosure information illustrates the various savings and checking alternatives available to members of MSUFCU. Specific features, rates, and fees of Credit Union services are subject to change without notice. The Current Dividends sheet and Fee Schedule referenced in this document set forth certain conditions, rates, fees, and charges applicable to your accounts at MSUFCU. The Current Dividends sheet and Fee Schedule are available at xxxxxx.xxx and at our branch locations. If you would like to receive this information by mail, or if you have any questions regarding this disclosure or accounts offered by MSUFCU, please contact a member service representative. COMMON FEATURES All accounts offered by MSUFCU share several common features: Membership: You must complete purchase of a $5.00 par value share in MSUFCU and be a member in good standing. Nature of Dividends: Dividends are paid from current income and available earnings, after required transfers to reserves, at the end of the dividend period. Federal Deposit Insurance: Accounts are federally insured by the National Credit Union Share Insurance Fund, which is administered by the National Credit Union Administration, an agency of the United States government. Transaction Limitations: We reserve the right at any time to require not less than seven days written notice before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Federal Reserve Regulation D. All interest-bearing and dividend-bearing accounts offered by MSUFCU share several common features: Compounding and Crediting: Dividends will be compounded and credited to your account monthly, except for the Mortgage Escrow Share Account, which is compounded and credited quarterly. Dividend Period: The dividend period is monthly for all account types except the Mortgage Escrow Share Account, which is quarterly. For example, the beginning date of the first dividend period of the calendar year is January 1 through January 31 (January 1 through March 31 for the Mortgage Escrow Share Account). All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending of a dividend period, and for the example above is February 1 (April 1 for the Mortgage Escrow Share Account).

SAVINGS AND FUNDS AVAILABILITY DISCLOSURE. The Truth-in-Savings Act (TIS) is a section of the Federal Deposit Insurance Corporation Improvement Act of 1991. The National Credit Union Administration (NCUA) is charged with enforcing this Act, which applies to all credit unions. The purpose of TIS is to promote and simplify comparisons among accounts at all financial institutions. TIS enables consumers to make informed choices and 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 Michigan State Oakland University Federal Credit Union (MSUFCUOU Credit Union) to maintain compliance with this federal law pertaining to disclosure of the terms and conditions of all savings programs. The following disclosure information illustrates the various savings and checking alternatives available to members of OU Credit Union. Oakland University Credit Union is a licensed trade name for Michigan State University Federal Credit Union (MSUFCU). All legal documents and Federal Reserve transactions will be between you and MSUFCU. Michigan State University Federal Credit Union savings are federally insured to at least $250,000 by the NCUA and backed by the full faith and credit of the United States government. Specific features, rates, and fees of Credit Union services are subject to change without notice. The Current Dividends sheet and Fee Schedule referenced in this document set forth certain conditions, rates, fees, and charges applicable to your accounts at MSUFCUOU Credit Union. The Current Dividends sheet and Fee Schedule are available online at xxxxxx.xxx xxxxxxxxxxxxx.xxx and at our branch locations. If you would like to receive this information by mail, or if you have any questions regarding this disclosure or accounts offered by MSUFCUOU Credit Union, please contact a member service representative. COMMON FEATURES All accounts offered by MSUFCU OU Credit Union share several common features. These features are: Membership: You must complete purchase of a $5.00 par value share in MSUFCU OU Credit Union and be a member in good standing. Nature of Dividends: Dividends are paid from current income and available earnings, after required transfers to reserves, reserves at the end of the dividend period. Federal Deposit Insurance: Accounts are federally insured by the National Credit Union Share Insurance Fund, which is administered by the National Credit Union Administration, an agency of the United States government. Transaction Limitations: We reserve the right at any time to require not less than seven days written notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Federal Reserve Regulation D. All interest-bearing and dividend-bearing accounts offered by MSUFCU OU Credit Union share several common features. These features are: Compounding and Crediting: Dividends will be compounded and credited to your account monthly, except for the Mortgage Escrow Share Account, which is compounded and credited quarterly. Dividend Period: The dividend period is monthly for all account types except the Mortgage Escrow Share Account, which is quarterly. For example, the beginning date of the first dividend period of the calendar year is January 1 through January 31 (January 1 through March 31 for the Mortgage Escrow Share Account). All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending of a dividend period, and for the example above is February 1 (April 1 for the Mortgage Escrow Share Account).