1. Rate Information.

‍The annual percentage yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. The dividend rate and annual percentage yield may change at any time as determined by Liberty Federal Credit Union (LFCU). The dividend rates and annual percentage yields are the rates as of the last dividend declaration date, which is the last day of the dividend period. Mission Checking is a tiered rate account. The balance ranges and corresponding dividend rates and annual percentage yields applicable to each tier are disclosed above. For the Mission Checking account, once a particular range is met, the dividend rate and annual percentage yield for that balance range will apply to the full balance of your account.

2. Nature of Dividends

‍Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period.

3. Dividend Compounding and Crediting‍

The compounding and crediting frequency of dividends and the dividend period are stated above. The dividend period is the period of time at the end of which an account earns dividend credit. The dividend period begins on the first calendar day of the period and ends on the last calendar day of the period.

4. Accrual of Dividends‍

For all earning accounts, dividends will begin to accrue on noncash deposits (e.g., checks) on the business day you make the deposit to your accounts.

5. Balance Information‍

To open this account, you must deposit or already have on deposit the minimum required share(s) in a Regular Share account. You must also deposit the account minimum opening deposit amount to the credit union. For accounts using the daily balance method, dividends are calculated by applying a daily periodic rate to the balance in the account each day.

6. Account Limitations‍

Must provide documentation showing the business is a 501(c)(3) business structure.

7. Fees for Overdrawing Accounts

Fees for overdrawing your account may be imposed on each check, draft, item, ATM transaction, and one-time debit card transaction (if the member has consented to standard overdraft practice for ATM and one-time debit card transactions), preauthorized automatic debit, telephone initiated withdrawal or any other electronic withdrawal or transfer transaction that is drawn on an insufficient available account balance.

The entire balance in your account may not be available for withdrawal, transfer, or paying a check, draft, or item. You may consult the Membership and Account Agreement and Funds Availability Policy Disclosure for information regarding the availability of funds in your account. Fees for overdrawing your account may be imposed for each overdraft, regardless of whether we pay or return the draft, item, or transaction. If we have approved an overdraft protection limit for your account, such fees may reduce your approved limit. Please refer to the separate Fee Schedule for current fee information

For ATM and one-time debit card transactions, you must consent to LFCU’s standard overdraft practice in order for the transaction amount to be covered under the practice. Without your consent, LFCU may not authorize and pay an overdraft resulting from these types of transactions. Services and fees for overdrafts are shown in the document LFCU uses to capture the member’s opt-in choice for overdraft protection and the Fee Schedule.

8. Rates‍

The rate(s) in the Truth-in-Savings Disclosure above are accurate as of the last dividend declaration date. The dividend rate and annual percentage yield are subject to change. We may change the dividend rate for your account as determined by LFCU.

9. Fees

See separate Fee Schedule for a listing of fees and charges applicable to your account(s).

10. Additional Features‍

For checking accounts, automatic transfers to cover overdrafts are available from a designated regular share account. For checking accounts, members may also apply for an overdraft protection plan. If a loan account has been established, LFCU may treat an item which exceeds the checking account balance as a request to LFCU for an advance from the preapproved line of credit. It is the intent of LFCU to close any checking account that is misused by the owner. We reserve the right not to open a checking account when a member has a negative record with a consumer reporting agency or LFCU. We reserve the right to at any time require not less than seven days’ notice in writing before each withdrawal from a dividend-bearing account other than a time deposit or demand deposit, or from any other share account as defined in Regulation D. Periodic statements, notices, receipts, and most other documentation from LFCU may be addressed to the primary account owner only. Anyone under the age of 18 must have a joint owner on the checking account age 18 or older. Funds in a Regular Share Account can be pledged as collateral on a LFCU loan.

11. Membership Agreement and Disclosures‍

This account is subject to the terms and conditions of the LFCU Membership Agreement and Disclosures packet. If you do not have a copy or would like another copy, you may request one at a branch location, by calling 800-800-9271, or emailing libertyfcu@libertyfcu.org.

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