Truth in Savings Account Disclosure – Traditional, Roth, & ESA (opened as of 10/8/2021)
Traditional IRA Plan – An individual retirement account (IRA) allows you to save money for retirement in a tax-advantaged way. With a traditional IRA, you make contributions with money you may be able to deduct on your tax return, and any earnings can potentially grow tax-deferred until you withdraw them in retirement. Required Minimum Distributions apply to the account subject to IRS rules.
Roth IRA Plan– is an individual retirement account that offers tax-free growth and tax-free withdrawals in retirement. Roth IRA rules dictate that as long as you’ve owned your account for 5 years* and you are age 59½ or older, you can withdraw your money when you want to and you won’t owe any federal taxes. Account is subject to IRS rules.
Education Savings Account – is a tax-deferred trust account created by the U.S. government to assist families in funding educational expenses for beneficiaries who must be 18 years old or younger when the account is established. The age restriction may be waived for special needs beneficiaries. While more than one ESA can be set up for a single beneficiary, the total maximum contribution per year for any single beneficiary is $2,000. Account is subject to IRS rules.

INDIVIDUAL RETIREMENT ACCOUNT and ESA TIME DEPOSIT ACCOUNTS
Compounding frequency – Interest will be compounded semiannually except for certificates of less than one year where interest will not be compounded.
Crediting frequency – Interest will be credited to your account semiannually unless monthly checks are permitted and taken.
Minimum balance to open the account – You must deposit $500.00 to open this account.
Minimum balance to obtain the annual percentage yield disclosed – You must maintain a minimum balance of $.01 in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method – We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits – Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Contributions – For contribution limits on the Traditional IRA, Roth IRAs and Coverdell Education Savings Account, see an IRA specialist.
Rollovers and transfers – You must open a new certificate for rollovers and transfers into an existing IRA Plan.

Transaction limitations:

• You may not make any deposits into your account before maturity unless permitted by IRA rules.
• You may make withdrawals of principal from your account before maturity. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty.
• You can only withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest any time during the term of crediting after it is credited to your account.

Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity):

• If your account has an original maturity of 11 months or less: The fee we may impose will equal 91 days interest on the amount withdrawn.
• If your account has an original maturity of between more than 11 months but less than 60 months: The fee we may impose will equal 182 days interest on the amount withdrawn.
• If your account has an original maturity of 60 months or more: The fee we may impose will equal 365 days interest on the amount withdrawn.

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. Other exceptions may also apply, for example, if this is part of an IRA or other tax-deferred savings plan.

Withdrawal of interest prior to maturity – The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. Withdrawals subject to IRS tax rules.
Automatically renewable time account – This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any) or we receive written notice from you within the grace period mentioned below, if any. We can modify the renewal terms if we mail notice to you at least 30 calendar days before maturity. Said notice will detail the specific renewal terms.

Each renewal term will be the renewal term as indicated on the Certificate Contract. The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features as the original time deposit. You will have seven calendar days after maturity to withdraw the funds without a penalty.

Truth in Savings Account Disclosure – Traditional, Roth, & ESA (opened as of 10/8/2021)
Traditional IRA Plan – An individual retirement account (IRA) allows you to save money for retirement in a tax-advantaged way. With a traditional IRA, you make contributions with money you may be able to deduct on your tax return, and any earnings can potentially grow tax-deferred until you withdraw them in retirement. Required Minimum Distributions apply to the account subject to IRS rules.
Roth IRA Plan– is an individual retirement account that offers tax-free growth and tax-free withdrawals in retirement. Roth IRA rules dictate that as long as you’ve owned your account for 5 years* and you are age 59½ or older, you can withdraw your money when you want to and you won’t owe any federal taxes. Account is subject to IRS rules.
Education Savings Account – is a tax-deferred trust account created by the U.S. government to assist families in funding educational expenses for beneficiaries who must be 18 years old or younger when the account is established. The age restriction may be waived for special needs beneficiaries. While more than one ESA can be set up for a single beneficiary, the total maximum contribution per year for any single beneficiary is $2,000. Account is subject to IRS rules.

INDIVIDUAL RETIREMENT ACCOUNT and ESA TIME DEPOSIT ACCOUNTS
Compounding frequency – Interest will be compounded semiannually except for certificates of less than one year where interest will not be compounded.
Crediting frequency – Interest will be credited to your account semiannually unless monthly checks are permitted and taken.
Minimum balance to open the account – You must deposit $500.00 to open this account.
Minimum balance to obtain the annual percentage yield disclosed – You must maintain a minimum balance of $.01 in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method – We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits – Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Contributions – For contribution limits on the Traditional IRA, Roth IRAs and Coverdell Education Savings Account, see an IRA specialist.
Rollovers and transfers – You must open a new certificate for rollovers and transfers into an existing IRA Plan.

Transaction limitations:

• You may not make any deposits into your account before maturity unless permitted by IRA rules.
• You may make withdrawals of principal from your account before maturity. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty.
• You can only withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest any time during the term of crediting after it is credited to your account.

Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity):

• If your account has an original maturity of 11 months or less: The fee we may impose will equal 91 days interest on the amount withdrawn.
• If your account has an original maturity of between more than 11 months but less than 60 months: The fee we may impose will equal 182 days interest on the amount withdrawn.
• If your account has an original maturity of 60 months or more: The fee we may impose will equal 365 days interest on the amount withdrawn.

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. Other exceptions may also apply, for example, if this is part of an IRA or other tax-deferred savings plan.

Withdrawal of interest prior to maturity – The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. Withdrawals subject to IRS tax rules.
Automatically renewable time account – This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any) or we receive written notice from you within the grace period mentioned below, if any. We can modify the renewal terms if we mail notice to you at least 30 calendar days before maturity. Said notice will detail the specific renewal terms.

Each renewal term will be the renewal term as indicated on the Certificate Contract. The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features as the original time deposit. You will have seven calendar days after maturity to withdraw the funds without a penalty.