Disclosures Security

Instructions for Recipient
The information provided may be different for covered and noncovered securities. For a description of covered securities, see the Instructions for Form 8949. For a taxable covered security acquired at a premium, unless you notified the payer in writing in accordance with Regulations section 1.6045-1(n)(5) that you did not want to amortize the premium under section 171, or for a tax-exempt covered security acquired at a premium, your payer generally must report either (1) a net amount of interest that reflects the offset of the amount of interest paid to you by the amount of premium amortization allocable to the payment(s), or (2) a gross amount for both the interest paid to you and the premium amortization allocable to the payment(s). If you did notify your payer that you did not want to amortize the premium on a taxable covered security, then your payer will only report the gross amount of interest paid to you. For a noncovered security acquired at a premium, your payer is only required to report the gross amount of interest paid to you.
Recipient’s taxpayer identification number (TIN)
For your protection, this form may show only the last four digits of your TIN (social security number (SSN), individual taxpayer identification number (ITIN), adoption taxpayer identification number (ATIN), or employer identification number (EIN)). However, the issuer has reported your complete TIN to the IRS.
FATCA filing requirement
If the FATCA filing requirement box is checked, the payer is reporting on this Form 1099 to satisfy its chapter 4 account reporting requirement. You also may have a filing requirement. See the Instructions for Form 8938. Account number. May show an account or other unique number the payer assigned to distinguish your account.
Box 1
Shows taxable interest paid to you during the calendar year by the payer. This does not include interest shown in box 3. May also show the total amount of the credits from clean renewable energy bonds, new clean renewable energy bonds, qualified energy conservation bonds, qualified zone academy bonds, qualified school construction bonds, and build America bonds that must be included in your interest income. These amounts were treated as paid to you during 2021 on the credit allowance dates (March 15, June 15, September 15, and December 15). For more information, see Form 8912. See the instructions above for a taxable covered security acquired at a premium.
Box 2
Shows interest or principal forfeited because of early withdrawal of time savings. You may deduct this amount to figure your adjusted gross income on your income tax return. See the Instructions for Forms 1040 and 1040-SR to see where to take the deduction.
Box 3
Shows interest on U.S. Savings Bonds, Treasury bills, Treasury bonds, and Treasury notes. This may or may not all be taxable. See Pub. 550. This interest is exempt from state and local income taxes. This interest is not included in box 1. See the instructions above for a taxable covered security acquired at a premium.
Box 4
Shows backup withholding. Generally, a payer must backup withhold if you did not furnish your TIN or you did not furnish the correct TIN to the payer. See Form W-9. Include this amount on your income tax return as tax withheld.
Box 5
Any amount shown is your share of investment expenses of a singleclass REMIC. This amount is included in box 1. Note: This amount is not deductible.
Box 6
Shows foreign tax paid. You may be able to claim this tax as a deduction or a credit on your Form 1040 or 1040-SR. See your tax return instructions.
Box 7
Shows the country or U.S. possession to which the foreign tax was paid.
Box 8
Shows tax-exempt interest paid to you during the calendar year by the payer. See how to report this amount in the Instructions for Forms 1040 and 1040-SR. This amount may be subject to backup withholding. See Box 4 above. See the instructions above for a tax-exempt covered security acquired at a premium.
Box 9
Shows tax-exempt interest subject to the alternative minimum tax. This amount is included in box 8. See the Instructions for Form 6251. See the instructions above for a tax-exempt covered security acquired at a premium.
Box 10
For a taxable or tax-exempt covered security, if you made an election under section 1278(b) to include market discount in income as it accrues and you notified your payer of the election in writing in accordance with Regulations section 1.6045-1(n)(5), shows the market discount that accrued on the debt instrument during the year while held by you, unless it was reported on Form 1099-OID. For a taxable or tax-exempt covered security acquired on or after January 1, 2015, accrued market discount will be calculated on a constant yield basis unless you notified your payer in writing in accordance with Regulations section 1.6045-1(n)(5) that you did not want to make a constant yield election for market
discount under section 1276(b). Report the accrued market discount on your income tax return as directed in the Instructions for Forms 1040 and 1040-SR. Market discount on a tax-exempt security is includible in taxable income as interest income.
Box 11
For a taxable covered security (other than a U.S. Treasury obligation), shows the amount of premium amortization allocable to the interest payment(s), unless you notified the payer in writing in accordance with Regulations section 1.6045-1(n)(5) that you did not want to amortize bond premium under section 171. If an amount is reported in this box, see the Instructions for Schedule B (Form 1040) to determine the net amount of interest includible in income on Form 1040 or 1040-SR with respect to the security. If an amount is not reported in this box for a taxable covered security acquired at a premium and the payer is reporting premium amortization, the payer has reported a net amount of interest in box 1. If the amount in box 11 is greater than the amount of interest paid on the covered security, see Regulations section 1.171-2(a)(4).
Box 12
For a U.S. Treasury obligation that is a covered security, shows the amount of premium amortization allocable to the interest payment(s), unless you notified the payer in writing in accordance with Regulations section 1.6045-1(n)(5) that you did not want to amortize bond premium under section 171. If an amount is reported in this box, see the Instructions for Schedule B (Form 1040) to determine the net amount of interest includible in income on Form 1040 or 1040-SR with respect to the U.S. Treasury obligation. If an amount is not reported in this box for a U.S. Treasury obligation that is a covered security acquired at a premium and the payer is reporting premium amortization, the payer has reported a net amount of interest in box 3. If the amount in box 12 is greater than the amount of interest paid on the U.S. Treasury obligation, see Regulations section 1.171-2(a)(4).
Box 13
For a tax-exempt covered security, shows the amount of premium amortization allocable to the interest payment(s). If an amount is reported in this box, see Pub. 550 to determine the net amount of tax-exempt interest reportable on Form 1040 or 1040-SR. If an amount is not reported in this box for a tax-exempt covered security acquired at a premium, the payer has reported a net amount of interest in box 8 or 9, whichever is applicable. If the amount in box 13 is greater than the amount of interest paid on the tax-exempt covered security, the excess is a nondeductible loss. See Regulations section 1.171-2(a)(4)(ii).
Box 14
Shows CUSIP number(s) for tax-exempt bond(s) on which tax-exempt interest was paid, or tax credit bond(s) on which taxable interest was paid or tax credit was allowed, to you during the calendar year. If blank, no CUSIP number was issued for the bond(s).
Boxes 15–17
State tax withheld reporting boxes. Nominees. If this form includes amounts belonging to another person(s), you are considered a nominee recipient. Complete a Form 1099-INT for each of the other owners showing the income allocable to each. File Copy A of the form with the IRS. Furnish Copy B to each owner. List yourself as the “payer” and the other owner(s) as the “recipient.” File Form(s) 1099-INT with Form 1096 with the Internal Revenue Service Center for your area. On Form 1096, list yourself as the “filer.” A spouse is not required to file a nominee return to show amounts owned by the other spouse.
Future developments
For the latest information about developments related to Form 1099-INT and its instructions, such as legislation enacted after they were published, go to www.irs.gov/Form1099INT.
FreeFile
Go to www.irs.gov/FreeFile to see if you qualify for no-cost online federal tax preparation, e-filing, and direct deposit or payment options.

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

YOUR ABILITY TO WITHDRAW FUNDS
Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once they are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written.
For determining the availability of your deposit, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit before close of business on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after close of business or on a day we are not open, we will consider that the deposit was made on the next business day we are open.
LONGER DELAYS MAY APPLY
Funds you deposit by check may be delayed for a longer period under the following circumstances:
· We believe a check you deposit will not be paid.
· You deposit checks totaling more than $5,000 on any one day.
· You redeposit a check that has been returned unpaid.
· You have overdrawn your account repeatedly in the last six months.
· There is an emergency, such as failure of computer or communications equipment.
We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the tenth business day after the day of your deposit.
SPECIAL RULES FOR NEW ACCOUNTS
If you are a new customer, the following special rules will apply during the first 30 days your account is open.
Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, cashier’s, certified, teller’s, traveler’s, and federal, state, and local government checks will be available immediately if the deposit meets certain conditions. For example, the checks must be payable to you. Funds from all other check deposits will be available immediately unless we notify you otherwise. We may exercise the right to put longer holds on check deposits made into new accounts.

Rate Information – The dividend rate and annual percentage yield may change every quarter. 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 prior to the beginning of a dividend period, and for the example above is December 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 the purchase of a share in the credit union. Please see the bylaw requirements in the Common Features section for additional information.

You must maintain a minimum daily balance of $5.00 in your account each day to obtain the disclosed annual percentage yield.

Daily balance computation method – Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

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 fee of $5.00 will be charged each month if the aggregate balance of all your shares falls below $100.00 at any time during the month.

Members age 18 and under are excluded. Members with an open loan, including a credit card, are also excluded.

Par value of a share – The par value of a share in this account is $5.00.

Rate Information – The interest rate and annual percentage yield may change every month. We may change the interest rate for your account as determined by the credit union board of directors.

Compounding and crediting – Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account – If you close your account before interest is paid, you will not receive the accrued interest.

Minimum balance requirements – You must maintain a minimum daily balance of $5.00 in your account each day to obtain the disclosed annual percentage yield.

Daily balance computation method – Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

Accrual of interest on noncash deposits – Interest will begin to accrue on the business day you deposit 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 pre-authorized or automatic transfer, telephonic order or instruction, or similar order to a third party.

Fees and charges – A maintenance fee of $12.00 will be charged annually. A new account fee of $4.00 will be charged upon the opening of this account.

Roth and Education Individual Retirement

Accounts will be charged a maintenance fee of $12.00 annually and a new account fee of $4.00 upon the opening of this account.

Rate Information – The dividend rate and annual percentage yield may change every quarter. 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 prior to the beginning of a dividend period, and for the example above is December 31. If you close your account before dividends are paid, you will not receive the accrued dividends.
Minimum balance requirements:
You must maintain a minimum daily balance of $5.00 in your account each day to obtain the disclosed annual percentage yield.

Daily balance computation method – Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

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.

Par value of a share – The par value of a share in this account is $5.00.

Rate Information – The dividend rate and annual percentage yield may change every quarter. 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 prior to the beginning of a dividend period, and for the example above is December 31. If you close your account before dividends are paid, you will not receive the accrued dividends.

Minimum balance requirements:
You must maintain a minimum daily balance of $5.00 in your account each day to obtain the disclosed annual percentage yield.

Daily balance computation method – Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

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.

Funds will be transferred to the regular savings account on November 1 of each year unless you request otherwise.

Par value of a share – The par value of a share in this account is $5.00.

Minimum balance requirements:
You must maintain a minimum daily balance of $150.00 in your account to avoid a minimum balance fee. If, during any month, your account balance falls below the required minimum daily balance, your account will be subject to a minimum balance fee of $5.00 once per month.

This fee is waived for members 17 years of age and under, members 60 years of age and older, and members with VIP status of Silver or higher.
Transaction limitations:

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

This account is not a consumer account to which Truth in Savings applies.

Minimum balance requirements:
You must maintain a minimum daily balance of $1,000.00 in your account to avoid a minimum balance fee. If, during any month, your account balance falls below the required minimum daily balance, your account will be subject to a minimum balance fee of $15.00 once per month.

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

Fees and charges:
A per check fee of $.20 will be charged for each check cleared in excess of ten during the month.

This account is not a consumer account to which Truth in Savings applies.

Minimum balance requirements:
You must maintain a minimum daily balance of $25.00 in your account to avoid a minimum balance fee. If, during any month, your account balance falls below the required minimum daily balance, your account will be subject to a minimum balance fee of $2.00 once per month.

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

Fees and charges:
A per check fee of $.20 will be charged for each check cleared in excess of ten during the month.

This account is not a consumer account to which Truth in Savings applies.

Qualifications:

  • 12 credits earned per year
  • member must be under the age of 25
  • waiver form must be completed every year by August 1

Minimum balance requirements:
No minimum balance requirements apply to this account.

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

Bylaw requirements:

You must complete payment of one share in your Regular Savings Share account as a condition of admission to membership.

Transaction limitation – 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.

National Credit Union Share Insurance Fund – Member accounts in this credit union are federally insured by the National Credit Union Share Insurance Fund.

Fees may be assessed against your account and there may be transaction limitations that apply to your account. Refer to the service charges and fees sheet.

REGULAR SAVINGS SHARE ACCOUNT
ESCROW TAXES SHARE ACCOUNT
ESCROW INSURANCE SHARE ACCOUNT
ESCROW HOME IMPROVEMENT SHARE ACCOUNT
VACATION SHARE ACCOUNT
CHRISTMAS CLUB SHARE ACCOUNT


On all of the above, as of the last dividend declaration date of 10/01/2009, the dividend rate was as follows:

Tier 1 – If your daily balance is $100,000.00 or more, the dividend rate paid is .05% with an annual percentage yield of .05% on your account.

Tier 2 – If your daily balance is more than $24,999.99, but less than $100,000.00, the dividend rate paid is .05% with an annual percentage yield of .05% on your account.

Tier 3 – If your daily balance is more than $9,999.99, but less than $25,000.00, the dividend rate paid is .05% with an annual percentage yield of .05% on your account.

Tier 4 – If your daily balance is more than $99.99, but less than $10,000.00, the dividend rate paid is .05% with an annual percentage yield of .05% on your account.

Our Credit Union is constantly concerned about our member’s critical information and privacy. With this in mind, the following measures are part of the security environment on Internet server:
  • Each server is behind a Firewall. These devices protect critical ports and IP addresses on servers and block traffic to help prevent external attack and access.
  • Each server runs proprietary software that constantly monitors the servers for unauthorized use and attempts to “hack” into information. Administrators are contacted when forced attacks are committed, and countermeasures can be applied to stop these instances.
  • All administrative activity requires user login and authentication. All administrative updates are logged into files that can be reviewed later.
  • All servers come with a Global Security Certificate for digitally encrypted communications between the Web server and member. Information passed in applications cannot be decrypted by third parties attempting to “pick” information being passed across the Internet backbone.