Rate Information:
Except for Term Share Certificate and IRA Term Share Certificate Accounts, the dividend rate and APY may change every dividend period as determined by the Credit Union's Board of Directors.  The dividend rates and APYs disclosed in the Rate Schedule reflect the prospective dividend rate and APY which the credit union anticipates will be paid for the current dividend period. The dividend rate and APY on Term Share Certificates are fixed and will be paid until the first maturity date on the Certificate. The disclosed dividend rate and APY for Term Share Certificates and IRA Term Share Certificates are those that were offered within the most recent seven calendar days.

Definitions:
Annual Percentage Yield (APY):  The Annual Percentage Yield is a percentage rate reflecting the total amount of dividends paid on an account, based on the dividend rate and the frequency of compounding for a 365-day period.
Dividend Rate:  Thee dividend rate is the prospective annual dividend rate paid on an Account, which does not reflect compounding.

Account Information:  Accounts are non-transferable and non-negotiable.  Funds in your Accounts may not be pledged to secure any obligation of an owner, except for those obligations owed to Irving City Employees Federal Credit Union.

Compounding and Crediting:
Regular Shares/Savings, IRA Savings, Christmas Club and Term Share Certificate and IRA Term Share Certificate Accounts.
Dividends are compounded quarterly and credited quarterly. The dividend period  begins on the first calendar day of the period and ends on the last calendar day of the period.  For example, the beginning date of the first dividend period of the calendar year is January 1st, and the ending date of such dividend period is March 31st.  The dividend declaration date follows the ending date of a dividend period and for the example is April 1st.

Share Draft Accounts:
Dividends are compounded monthly and credited monthly. The dividend period is monthly.  The dividend period begins on the first calendar day of the period and ends on the last calendar day of the period.  For example, the beginning date of the first dividend period of the calendar year is January 1st and the ending date of such dividend period is January 31st.  The dividend declaration date follows the ending date of a dividend period, and for the example, is February 1st.

Effect of Closing:
For all accounts, including regular and IRA Term Share Accounts, you will not receive the accrued dividends if you close your account before dividends are paid.

Balance Computation Method:
Regular Shares/Savings, IRA Savings, Christmas Club, and Term Share Certificate and IRA Term Share Certificate Account dividends are calculated by the daily Balance method which applies a periodic rate to the balance in the Account each day.
Share Draft/Checking Account 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 figure by the number of days in the period.

Fees and Charges:
Fees and charges that may be assessed against all accounts are disclosed in the Truth-in-Savings Fee Schedule.  You authorize us to charge any account of yours for any such fees or charges assessed without notice to you.

Accrual of Dividends:
Dividends will begin to accrue on the business day you deposit cash and non-cash items (such as checks) to your account.

Transaction Limitations:
Under government regulations that apply to your Regular Share/Savings Account(s), you may not make more than six transfers and withdrawals, or a combination of such transfers and withdrawals from your Regular Share/Savings Account per calendar month to another Credit Union Account of yours or to a third party by means of a pre-authorized or automatic transfer (including overdraft protection) or a  telephonic agreement,  order or instruction 9including transfers by personal computer or other data transmission) and no more than three of the six transfers may be made by check, draft, debit card or similar order made by you and payable to third parties.  Withdrawals by mail, messenger, ATM or in person, and transfers to make payments on your loans with us are not included in this limitation.   If you exceed the number of transfers permitted, your  Account may be subject to a fee or other sanctions.

For the Regular Share/Savings Account, the Credit Union reserves the right to require a member intending to make a withdrawal or transfer of funds to give written notice of such intent not less than seven  and up to 60 days before such withdrawal or  transfer.  We may charge a  fee as set forth in the Fee Schedule for transfers or withdrawals from a Regular Share/Savings Account in excess of two per month. We will waive this fee if you also maintain a Share Draft/Checking account with us.  Your membership share may not be withdrawn unless your Credit Union membership is terminated.

Withdrawals and transfers from IRA Accounts are subject to Internal Revenue Service limitations.  Refer to your IRA plan disclosure for more information.

Term Share Certificate and IRA Term Share Certificate Accounts:
Maturity Date:  Your account will mature on the last day of the term selected for your Account.  The term of your certificate begins on the day you open the account.
Early Withdrawal Penalties:  We may impose a penalty if you withdraw any of the principal in your account before the maturity date.  The penalty will equal the lesser of three months; dividends on the account or the dividends credited since the account was opened on certificates with a maturity of one year or less.  On certificates with a maturity over one year, a six month dividend penalty will be imposed.  This penalty will be imposed regardless of whether dividends equal to the amount of the penalty have been earned at the time of the withdrawal.  To the extent that dividends in the account at the time of withdrawal are insufficient to pay the entire penalty assessed, the penalty will be assessed against principal.  In certain circumstances, such as death or incompetency of an account owner, we may permit an early withdrawal without penalty upon presentation of satisfactory documentation such as a death certificate or a court order or decree.
Automatic Renewal:  Certificates will automatically renew at maturity for an equivalent term and under the same terms and conditions as set forth herein, except that the dividend rate for the renewal term will be the rate the Credit Union is offering at the time of renewal for certificates with a similar term and principal amount.  You will have a grace period of ten calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.

Bylaw Requirements:
The shareholdings of a member who fails to complete payment of one share within six (6) months of his or her admission to membership or of a member who reduces his or her share balance below $25 and does not increase the balance to at least $25 within six (6) months of the reduction, may be terminated from membership.

Nature of Dividends:
Except for Term Share Certificate and IRA Term Share Certificate Accounts, dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.

Par Value of Shares:
You must complete payment of a membership share in order to maintain accounts at the Credit Union.  The par value of a regular share in this Credit Union is $25.

National Credit Union Share Insurance Fund.
Member Accounts in this Credit Union are federally insured by the National Credit Union Share Insurance Fund.

Withdrawal of Services:

In the event that any credit union member causes a loss to the credit union, or makes known his or her intention to cause a loss to the credit union, whether by
way of loan default, account overdraft, discharge in bankruptcy or otherwise, it is
the policy of the credit union to withdraw member services except a regular share account that will not earn dividends

Closing of Account(s):

In the event that any member of the credit union engages in any type of abusive conduct, the credit union may impose sanctions against that member including denial of specific services which involve personal contact with credit union employees, denial of access to credit union facilities, recommending expulsion from credit union membership, or any other action deemed necessary under the circumstances which is not expressly precluded by the Federal Credit Union Act, NCUA Regulations and the Credit Union's Bylaws.

Fee Schedule
All fees are disclosed on a per item or per transaction basis unless otherwise noted. *The NSF/Overdraft fee is also imposed for overdrafts created by checks, in-person withdrawals, ATM and Check Card withdrawals, and other electronic withdrawals such as Automated Clearing House transactions. Terms and rates may change without notice.