Common use of SHARED BRANCHES Clause in Contracts

SHARED BRANCHES. You can access your accounts and conduct business nationwide at any of the participating credit union locations within the CO-OP Shared Branch network, just as if you were at your home branch. Transactions performed at shared branch locations are subject to their fees, rules, policies, and procedures. In some cases, all of the funds that you deposit by check will not be available to you on the same business day you make the deposit. Depending upon the type of check you deposit, funds may not be immediately available. However, the first $200.00 of your deposits will be available on the first business day after the day we receive your deposit. If all of your funds from your deposit are not available on the same business day, you will be notified at the time you make your deposit as to when your funds will be available. If your deposit is not made directly to a shared branch employee, or if this action is taken after you have left the premises, a notice will be mailed to you by the business day after your deposit is received. If you will need the funds from a deposit right away, you should ask us when the funds will be available. In addition, funds you deposit by check may be delayed for a longer period if there is an emergency such as failure of communications or computer equipment. Should such an emergency occur, we will notify you and tell you when the funds will be available. They will generally be available no later than the seventh business day after the day of your deposit. • Annual percentage yield (APY) is the total amount of dividends paid on an account, based on the dividend rate and the frequency of monthly compounding for a 365-day period and expressed as a percentage. This rate assumes that a set amount is on deposit at the beginning of the dividend period, that no deposits or withdrawals are made during the dividend period, and funds remain on deposit for one full year at the same dividend rate. • Joint ownership is in accordance with the joint ownership agreement of record for the regular share (savings) account. • The dividend rate and APY on your account are listed on the Current Dividends sheet. The dividends are valid through the date on the Current Dividends sheet. The dividend rate and APY will be declared and can be changed weekly by management based on the guidelines approved by MSUFCU’s board of directors. • Certificates may not be pledged, transferred, or assigned to any party other than Michigan State University Federal Credit Union.

SHARED BRANCHES. You can access your accounts and conduct business nationwide at any of the participating credit union locations within the CO-OP Shared Branch network, just as if you were at your home branch. Transactions performed at shared branch locations are subject to their fees, rules, policies, and procedures. In some cases, all of the funds that you deposit by check will not be available to you on the same business day you make the deposit. Depending upon the type of check you deposit, funds may not be immediately available. However, the first $200.00 of your deposits will be available on the first business day after the day we receive your deposit. If all of your funds from your deposit are not available on the same business day, you will be notified at the time you make your deposit as to when your funds will be available. If your deposit is not made directly to a an shared branch employee, or if this action is taken after you have left the premises, a notice will be mailed to you by the business day after your deposit is received. If you will need the funds from a deposit right away, you should ask us when the funds will be available. In addition, funds you deposit by check may be delayed for a longer period if there is an emergency such as failure of communications or computer equipment. Should such an emergency occur, we will notify you and tell you when the funds will be available. They will generally be available no later than the seventh business day after the day of your deposit. • Annual percentage yield (APY) is the total amount of dividends paid on an account, based on the dividend rate and the frequency of monthly compounding for a 365-day period and expressed as a percentage. This rate assumes that a set amount is on deposit at the beginning of the dividend period, that no deposits or withdrawals are made during the dividend period, and funds remain on deposit for one full year at the same dividend rate. • Joint ownership is in accordance with the joint ownership agreement of record for the regular share (savings) account. • The dividend rate and APY on your account are listed on the Current Dividends sheet. The dividends are valid through the date on the Current Dividends sheet. The dividend rate and APY will be declared and can be changed weekly by management based on the guidelines approved by MSUFCUOU Credit Union’s board of directors. • Certificates may not be pledged, transferred, or assigned to any party other than Michigan State University Federal OU Credit Union. Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each date. Dividends will begin to accrue on the business day you deposit funds, including noncash items (e.g. checks), to your account. Dividends will be compounded and credited to your account monthly. For this account, the dividend is paid monthly. For example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow the same pattern of dates. The dividend declaration date is the ending date of the dividend period — January 31 for the example. • All Certificates have a minimum balance of $500.00, with the exception of the 1-Year Add-On Certificate, which has a minimum balance of $50.00. • You must maintain the required minimum balance in your account every day to obtain the Annual Percentage Yield (APY) (See Current Dividends sheet).

SHARED BRANCHES. You can access your accounts and conduct business nationwide at any of the participating credit union locations within the CO-OP Shared Branch network, just as if you were at your home branch. Transactions performed at shared branch locations are subject to their fees, rules, policies, and procedures. In some cases, all of the funds that you deposit by check will not be available to you on the same business day you make the deposit. Depending upon the type of check you deposit, funds may not be immediately available. However, the first $200.00 250.00 of your deposits will be available on the first business day after the day we receive your deposit. If all of your funds from your deposit are not available on the same business day, you will be notified at the time you make your deposit as to when your funds will be available. If your deposit is not made directly to a shared branch employee, or if this action is taken after you have left the premises, a notice will be mailed to you by the business day after your deposit is received. If you will need the funds from a deposit right away, you should ask us when the funds will be available. In addition, funds you deposit by check may be delayed for a longer period if there is an emergency such as failure of communications or computer equipment. Should such an emergency occur, we will notify you and tell you when the funds will be available. They will generally be available no later than the seventh business day after the day of your deposit. • Annual percentage yield (APY) is the total amount of dividends paid on an account, based on the dividend rate and the frequency of monthly compounding for a 365-day period and expressed as a percentage. This rate assumes that a set amount is on deposit at the beginning of the dividend period, that no deposits or withdrawals are made during the dividend period, and funds remain on deposit for one full year at the same dividend rate. • Joint ownership is in accordance with the joint ownership agreement of record for the regular share (savings) account. • The dividend rate and APY on your account are listed on the Current Dividends rate sheet. The dividends are valid through the date on the Current Dividends rate sheet. The dividend rate and APY will be declared and can be changed weekly by management based on the guidelines approved by MSUFCU’s board of directors. • Certificates may not be pledged, transferred, or assigned to any party other than Michigan State University Federal Credit Union. Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day. Dividends will begin to accrue on the business day you deposit funds, including noncash items (e.g., checks), to your account. Dividends will be compounded and credited to your account monthly. For this account, the dividend is paid monthly. For example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow the same pattern of dates. The dividend declaration date is the ending date of the dividend period — January 31 for the example. • All Certificates have a minimum balance of $500.00, with the exception of the 1-Year Add-On Certificate, which has a minimum balance of $50.00. • You must maintain the required minimum balance in your account every day to obtain the Annual Percentage Yield (APY) (See Current Dividends sheet).