Lanier Federal Credit Union
LANIER

Effective January 2009

The following fees may be assessed against your account and the following transaction limitations, if any, applied to your account.

Replacement ATM Card $5.00
Replacement Debit Card $15.00
Excessive Withdrawal Fee
Per withdrawal in excess of six per quarter
$5.00
Check Printing
Fee depends on style of check ordered
Visa Gift Cards $3.00
Money Orders
$1.50
Traveler's Checks
$1.50 per $100.00
Traveler's Gift Checks
$2.00 per check
Deposited Checks (and other items) Return Unpaid
Second Party Check
Single Party Check
$15.00
$28.00
Dormant Account
An account is considered dormant if for 12 months no withdrawals or deposits, other than credited dividends, have been made to the account.
$5.00 per month
Garnishments $50.00
Executions
$50.00
Levies $50.00
Nonsufficient Funds (NSF) draft, check or ACH $28.00
Account Activity Printout $5.00 per statement
Account Research $25.00 per hour
Stop Payments - drafts, check or ACH $20.00
Wire Transfer - Domestic $25.00
Wire Transfer - International $40.00
Photocopy
Six free per year
$1.25


TRUTH-IN-SAVINGS DISCLOSURE

MEMBER SHARE ACCOUNT

Rate Information:
The dividend rate and annual percentage yield may change every dividend period. We may change the dividend rate for your account as determined by the credit union board of directors.
Compounding and crediting -
Dividends will be compounded every quarter. Dividends will be credited to your account every quarter.
Dividend period -
For this account type, the dividend period is quarterly, 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 March 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the last day of the dividend period, and for the example above is March 31. If you close your account before dividends are paid, you will not receive the accrued dividends. Minimum balance requirements: The minimum balance required to open this account is $5.00. You must maintain a minimum average daily balance of $5.00 in your account to obtain the disclosed annual percentage yield.
Average daily 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 period by the number of days in the period. The period we use is the quarterly statement cycle.
Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.
Transaction limitations:

During any statement period, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized or automatic transfer or telephonic order or instruction. No more than three of the six transfers may be made by check, draft, debit card (if applicable), or similar order to a third party. If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the credit union.
Par value of a share:

The par value of a share in this account is $5.00.
Fees and charges:

An excessive withdrawal fee of $5.00 will be charged for each debit transaction (withdrawal, draft paid, automatic transfer, or payment out of this account) in excess of six during a quarter.

FREEDOM CHECKING ACCOUNT

Rate Information:
The dividend rate and annual percentage yield may change every dividend period. We may change the dividend rate for your account as determined by the credit union board of directors.
Compounding and crediting -
Dividends will be compounded every month. Dividends will be credited to your account every month.
Dividend period -
For this account type, the dividend period is 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 this same pattern of dates. The dividend declaration date is the last day of the dividend period, and for the example above is January 31.
Minimum balance requirements:

You must maintain a minimum average daily balance of $5.00 in your account to obtain the disclosed annual percentage yield.
Average daily 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 period by the number of days in the period. The period we use is the monthly statement cycle.
Accrual of dividends on noncash deposits -
Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.
Transaction limitations:

No transaction limitations apply to this account unless otherwise stated in the Common Features section.
Fees and charges:

There is a charge of $.75 per withdrawal and $.50 per transfer in excess of three at an ATM if the minimum balance drops below $500.00 during a statement cycle; or in excess of six during a statement cycle if the balance falls below $1,500.00.

BASIC CHECKING ACCOUNT

Rate Information:
The dividend rate and annual percentage yield may change every dividend period. We may change the dividend rate for your account as determined by the credit union board of directors.
Compounding and crediting -
Dividends will be compounded every month. Dividends will be credited to your account every month.
Dividend period -
For this account type, the dividend period is 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 this same pattern of dates. The dividend declaration date is the last day of the dividend period, and for the example above is January 31.
Minimum balance requirements:

The minimum balance required to open this account is $100.00 You must maintain a minimum average daily balance of $250.00 in your account to obtain the disclosed annual percentage yield.
Average daily 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 period by the number of days in the period. The period we use is the monthly statement cycle.
Accrual of dividends on noncash deposits -
Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.
Transaction limitations:

No transaction limitations apply to this account unless otherwise stated in the Common Features section.
Fees and charges:

A service charge of $5.00 will be charged each month. An excess check fee of $.20 will be charged for each check paid in excess of 20 during a month.

PRIME CHECKING ACCOUNT

Rate Information:
The dividend rate and annual percentage yield may change every dividend period. We may change the dividend rate for your account as determined by the credit union board of directors.
Compounding and crediting -
Dividends will be compounded every month. Dividends will be credited to your account every month.
Dividend period -
For this account type, the dividend period is 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 this same pattern of dates. The dividend declaration date is the last day of the dividend period, and for the example above is January 31.
Minimum balance requirements:

The minimum balance required to open this account is $100.00. You must maintain a minimum average daily balance of $750.00 in your account to avoid a service charge fee. If, during any month, your average daily balance is below the required minimum, your account will be subject to a service charge fee of $7.50 for that month. You must maintain a minimum average daily balance of $250.00 in your account to obtain the disclosed annual percentage yield.
Average daily 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 period by the number of days in the period. The period we use is the monthly statement cycle.
Accrual of dividends on noncash deposits -
Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.
Transaction limitations:

No transaction limitations apply to this account unless otherwise stated in the Common Features section.
Fees and charges:

An excess check fee of $.20 will be charged for each check paid in excess of 25 during a month.

PRIME-PLUS CHECKING ACCOUNT

Rate Information:
The dividend rate and annual percentage yield may change every dividend period. We may change the dividend rate for your account as determined by the credit union board of directors.
Compounding and crediting -
Dividends will be compounded every month. Dividends will be credited to your account every month.
Dividend period -
For this account type, the dividend period is 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 this same pattern of dates. The dividend declaration date is the last day of the dividend period, and for the example above is January 31.
Minimum balance requirements:

The minimum balance required to open this account is $100.00. You must maintain a minimum average daily balance of $2,000.00 in your account to avoid a service charge fee. If, during any month, your average daily balance is below the required minimum, your account will be subject to a service charge fee of $10.00 for that month. You must maintain a minimum average daily balance of $250.00 in your account to obtain the disclosed annual percentage yield.
Average daily 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 period by the number of days in the period. The period we use is the monthly statement cycle.
Accrual of dividends on noncash deposits -
Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.
Transaction limitations:

No transaction limitations apply to this account unless otherwise stated in the Common Features section.

PREMIER CHECKING ACCOUNT
(55 years of age and older)

Rate Information:
The dividend rate and annual percentage yield may change every dividend period. We may change the dividend rate for your account as determined by the credit union board of directors.
Compounding and crediting -
Dividends will be compounded every month. Dividends will be credited to your account every month.
Dividend period -
For this account type, the dividend period is 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 this same pattern of dates. The dividend declaration date is the last day of the dividend period, and for the example above is January 31.
Minimum balance requirements:

The minimum balance required to open this account is $100.00. You must maintain a minimum average daily balance of $250.00 in your account to obtain the disclosed annual percentage yield.
Average daily 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 period by the number of days in the period. The period we use is the monthly statement cycle.
Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.
Transaction limitations:

No transaction limitations apply to this account unless otherwise stated in the Common Features section.
Fees and charges:

A monthly service charge fee of $10.00 will be charged each month. This fee will not apply if you have an average daily balance of $5,000.00 in saving or checking or an aggregate balance of $10,000.00 in combined deposit accounts.

CLUB ACCOUNT

Rate Information:
The dividend rate and annual percentage yield may change every dividend period. We may change the dividend rate for your account as determined by the credit union board of directors.
Compounding and crediting -
Dividends will be compounded every quarter. Dividends will be credited to your account every quarter.
Dividend period -
For this account type, the dividend period is quarterly, 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 March 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the last day of the dividend period, and for the example above is March 31. If you close your account before dividends are paid, you will not receive the accrued dividends. Minimum balance requirements:
The minimum balance required to open this account is $25.00. You must maintain a minimum average daily balance of $5.00 in your account to obtain the disclosed annual percentage yield.
Average daily 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 period by the number of days in the period. The period we use is the quarterly statement cycle.
Accrual of dividends on noncash deposits -
Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.
Transaction limitations:

You may not make any withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized or automatic transfer, telephonic order or instruction, or similar order to a third party.
Fees and charges:

An excessive withdrawal fee of $5.00 per $100.00 increments will be charged. This fee will not apply if the withdrawal is made during June or July for the vacation clubs or during November or December for the Christmas clubs.

IRA SAVINGS ACCOUNT

Rate Information:
The dividend rate and annual percentage yield may change every dividend period. We may change the dividend rate for your account as determined by the credit union board of directors.
Compounding and crediting -
Dividends will be compounded every quarter. Dividends will be credited to your account every quarter.
Dividend period -
For this account type, the dividend period is quarterly, 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 March 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the last day of the dividend period, and for the example above is March 31. If you close your account before dividends are paid, you will not receive the accrued dividends. Minimum balance requirements:
The minimum balance required to open this account is $250.00. You must maintain a minimum average daily balance of $5.00 in your account to obtain the disclosed annual percentage yield.
Average daily 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 period by the number of days in the period. The period we use is the quarterly statement cycle.
Accrual of dividends on noncash deposits -
Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.
Transaction limitations:

You may not make any withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized or automatic transfer, telephonic order or instruction, or similar order to a third party.

TERM SHARE CERTIFICATE

Effect of closing an account - If you close your account before dividends are paid, you will not receive the accrued dividends.
Minimum balance requirements:
The minimum balance required to open this account is $500.00. You must maintain a minimum average daily balance of $500.00 in your account to obtain the disclosed annual percentage yield.
Average daily 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 period by the number of days in the period. Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.
Transaction limitations:

The minimum amount you can deposit is $500.00. There are no limitations on the frequency or timing of additions, except that no additions can be made in the last seven days before maturity. You may make withdrawals from your account before maturity. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty. You can only withdraw dividends before maturity if you make arrangements with us for periodic payments of dividends in lieu of crediting. If this is an IRA Term Share Certificate, you may not withdraw dividends before maturity.
Early withdrawal penalties
( a penalty may be imposed for withdrawals before maturity - If your account has an original maturity of less than one year: The penalty we may impose will equal 31 days dividends on the amount withdrawn subject to penalty. If your account has an original maturity of one year or more: The penalty we may impose will equal 180 days dividends on the amount withdrawn subject to penalty. In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. See your plan disclosure if this account is part of an IRA or other tax qualified plan.

COMMON FEATURES

Bylaw requirements:
You must complete payment of one share in your Membership Share account as a condition of admission to membership. Transaction limitations - We reserve the right to at any time require not less than seven days 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 Regulation D.
Nature of dividends -
Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period. (This disclosure further explains the dividend feature of your non-term share account(s).) National Credit Union Share Insurance Fund - Member accounts in this credit union are federally insured by the National Credit Union Insurance Fund.

 
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