SAVINGS AND CHECKING ACCOUNTS RATE AND FEE SCHEDULE
Effective November 1, 2008

This Rate and Fee Schedule sets forth current conditions, rates, fees and charges applicable to your Savings and Checking Accounts at Register-Guard Federal Credit union at this time. The Credit Union may offer other rates and fees or amend the rates and fees contained in this schedule from time to time. Each account holder agrees to the terms set forth on this Rate and Fee Schedule and acknowledges that it is a part of the Membership and Account Agreement.

TRUTH IN SAVINGS ACCOUNT DISCLOSURE

1.  Rate Information:  The Dividend Rate and Annual Percentage Yield on your accounts are set forth above.  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 quarterly as determined by the RGFCU Board of Directors. The Money Market Account is a tiered-rate account.  The Dividend Rate and Annual Percentage Yield applicable to the account will be based on a balance rate set forth above.  Once a balance range is met, the Dividend Rate for that balance will apply to the entire balance.
2.  Account Information/Limitations:  There is matching Life Insurance up to $2000 on the Insurance Account (the Insurance Account is no longer offered by the Credit Union).  The Young Savers account is for our members under the age of 16.  Our CHEF (Children's Higher Education Fund) account is a long-term savings account - not a regular transaction account.
Important:  For Regular Share, Insurance Share, Money Market and CHEF Accounts, you may make up to six (6) preauthorized automatic, telephonic, electronic via home banking or audio response transfers to another account of yours or to a third party in any calendar month.  No more than three (3) of these six (6) transfers may be made by check or debit card to pay a third party.  If you exceed these limitations, your account may be subject to a fee.  See Savings Rate & Fee Schedule for current fee.  You may make unlimited transfers to any of your accounts or to any Credit Union loan account and may make withdrawals in person, by mail, or at an ATM.  However, we may refuse or reverse a transfer that exceeds these limitations and may assess fees against, suspend or close your account.
3.  Nature of Dividends:  Credit Unions are unique financial institutions.  You are an owner of this credit union.  The money you put into your credit union represents an equity interest.  That's why credit unions call the returns you earn on your account dividends instead of interest. Our Board of Directors declares dividends based on current income and earnings after providing for the required reserves at the end of the month.  The Dividend Rate and the APY are the last declared rates and yields that the Credit Union paid.
4.  Compounding and Crediting: Dividends on all share accounts except Interest Checking will be compounded and credited quarterly.   The Dividend Period for Interest Checking begins on the first calendar day of the quarter and ends on the last calendar day of the quarter (Day-In / Day-Out Method).  Dividends for Interest Checking will be compounded and credited on the first day of the month following the dividend period.
5. Accrual of Dividends:  Dividends will begin to accrue on both cash deposits and non-cash deposits on the business day you make the deposit to your account.
6.  Balance Information:  The minimum balance required to open each account is listed above.  Dividends for all share type accounts (excludes Certificates of Deposit and Interest Checking Accounts) are calculated by applying the average daily balance method, which applies a periodic rate to the average balance in the account for the quarter.  The average daily balance is calculated by adding the principal in the account for each day of the quarter and dividing that figure by the number of days in the quarter. The minimum required balance to avoid a service fee or obtain the stated Annual Percentage Yield is set forth above.

RGFCU SAVINGS AND CHECKING ACCOUNTS RATE AND FEE SCHEDULE

Electronic Checks:  If you authorize a merchant to electronically debit your checking account using the routing, account, and serial number of your check to initiate the transfer, whether the check is blank, partially or fully completed and signed, such authorization is an electronic check conversion.  An electronic check conversion is an electronic funds transfer (“EFT”) subject to the terms of the Check Card Checking Account Agreement and Disclosure.  You authorize us to honor any electronic check conversion from your checking account just the same as a regular written check.
Electronic Re-Presented Checks:  If you write a check on a personal account that we return unpaid because of insufficient or uncollected funds, payee or any subsequent holder of the check may re-present the check to us, through an electronic instruction (“Electronic Re-presented Check”) to charge to your account for the amount of the check.  If we receive an electronic re-presented check, we will pay or return the electronic re-presented check as if the original paper check was presented to us.  Any collection fee you authorize the merchant to debit from your account is an electronic funds transfer subject to the terms of the Check Card Checking Account Agreement and Disclosure.  If you want to reverse an electronic re-presented check, you must give us an affidavit within 15 days after we send or make available to you the periodic statement that reflects payment of that electronic re-presented check.  In your affidavit, you must declare and swear under oath that the electronic re-presented check was ineligible or unauthorized.  If we receive a proper notice or affidavit from you within the 15-day period, we will re-credit your account with the amount of the charge.  If you wish to stop payment on any electronic re-presented check, you must follow the procedures contained in this Agreement for stopping payment of checks, not the procedures for stopping payment on electronic loan or bill payments. If you ask us to request the depositor’s bank to send us the original paper check or a copy of the paper check, and we provide it to you, you agree that you will not seek to have your account re-credited due to a prior stop payment order or if the item is otherwise ineligible for collection.
Electronic Funds Transactions: You authorize us to honor any electronic check conversion transaction and re-presented check fee debit transactions you authorize (“electronic check transactions”). You agree that your authorization for an electronic check transaction occurs when you initiate such a transaction after receiving any notice regarding the merchant’s right to process the transaction, including any written sign provided by the merchant at the time of your transaction.  All terms governing electronic funds transfer services will apply to electronic check transactions, except the $50 limit of liability for unauthorized transactions in the Check Card Checking Account Agreement and Disclosure.  You remain responsible for notifying us of any unauthorized electronic check transaction shown on your statement.

Currency Conversion & Foreign Transaction Fee Purchases and cash advances made in foreign countries and foreign currencies will be converted into U.S. Dollars in accordance with the operating rules for international transactions established by Visa USA, Inc. and may occur on a date other than the date of the transaction; therefore, the currency conversion rate may be different than the rate in effect at the time of the transaction.  We do not determine the currency conversion rate that is used nor do we receive any portion of the currency conversion rate.  You agree to accept the converted dollar amount deducted from your checking account.  The exchange rate to dollars will be a rate that is in effect for the applicable central processing date and is selected by Visa USA, Inc. either from the range of rates available in wholesale currency markets; or the government mandated rate.  A Currency Conversion Fee of 1% of the transaction amount will be assessed to the credit union, and will not be passed on to you the cardholder.