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TRUTH IN SAVINGS DISCLOSURE

REGULAR SHARE ACCOUNT, MONEY ONE SHARE ACCOUNT, CHRISTMAS CLUB ACCOUNT, VACATION CLUB ACCOUNT, IRA SHARE ACCOUNT, SPECIAL SHARE ACCOUNT, & SHARE DRAFT/CHECKING ACCOUNT.

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. For Regular Share, Money One Share, Christmas Club Share, Vacation Club Share, IRA Share and Special Share Accounts, the Dividend Rate and Annual Percentage Yield may change quarterly as determined by the Credit Union’s Board of Directors. The Dividend Rates and Annual Percentage Yields are the rates and yields as of the last dividend declaration date which is set forth in the Rate Schedule.

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 of dividends and dividend period applicable to each account are set forth in the Rate Schedule. 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 Regular Share, Money One Share, Christmas Club Share, Vacation Club Share, IRA Share and Special Share accounts, dividends will begin to accrue on non-cash deposits (e.g. checks) on the business day you make the deposit to your account. For Regular Share, Money One Share, Christmas Club Share, Vacation Club Share, IRA Share, and Special Share accounts, if you close your account before accrued dividends are credited, accrued dividends will not be paid.

5. Balance Information: The minimum balance requirements applicable to each account are set forth in the Rate Schedule. For Regular Share and Money One Share accounts, there is a minimum average daily balance required to obtain the Annual Percentage Yield for the dividend period. If the minimum average daily balance is not met, you will not earn the stated Annual Percentage Yield. For Regular Share, Money One Share, Christmas Club Share, Vacation Club Share, IRA Share and Special Share accounts using an Average Daily Balance method, dividends are calculated by applying a periodic rate to the average daily balance in the account for the period. The average daily balance is determined by adding the full amount of principal in the account for each day of the period and dividing that figure by the number of days in the period.

6. Account Limitations: For Regular Share, Money One Share and Vacation Club Share accounts, no more than six (6) preauthorized, automatic or telephone transfers may be made from these accounts to another account of yours or to a third party in any month, and no more than three (3) of these six (6) transfers may be made by check, draft, or debit card to a third party. If you exceed these limitations, your account may be subject to a fee or be closed. For Christmas Club Share account, the entire balance will be paid to you by check or transferred to another account of ours on or after October 1 and the account will remain open. If you withdraw any of the account balance at any time we will close your account and pay you the full account balance. You may make transfers or withdrawals in the first seven (7) days after the account is opened without restriction. For IRA Share, Special Share and Share Draft/Checking accounts, no account limitations apply.

Also, the following restrictions apply to all accounts according to the Bylaws of Chemco FCU:
a. The Board shall have the right, at any time, to require members to give, in writing, not more than 60 days notice of intention to withdraw the whole or any part of the amounts so paid in by them.

b. No member may withdraw shareholdings that are pledged as required security on loans without the written approval of the credit committee or loan officer, except to the extent that such shares exceed the member’s total primary and contingent liability to the credit union

c. No member may withdraw any shareholdings below the amount of his or her primary or contingent liability to the credit union if he is delinquent, as a borrower, of if borrowers for whom he is co-maker, endorser, or guarantor are delinquent, without the written approval of the credit committee or a loan officer.

7. Fees and Charges: The fees and charges that may be charged on an account are itemized in the “Schedule of Fees” available on this site. These fees may reduce the earnings on your account. The amount of each fee will be charged to your account when incurred, unless you pay the amount separately. We may charge another account of yours for a fee incurred it the account on which the fee was assessed as been closed or if it has an insufficient balance to pay the charge. For purposes of the Dormant Account Fee, a member’s account is considered dormant if it meets all the following criteria:. (a) Member is 18 years of age or older (b) No open loan (c) No open Visa credit card (d) No open IRA account (e) No open share certificates and (f) Either total share balance less than $100 and no monetary transactions within 1 year.

Share Insurance: Credit Union accounts are federally insured to $100,000 by the National Credit Union Administration.


SHARE CERTIFICATE ACCOUNTS


1. RATE INFORMATION. The Dividend Rate and Annual Percentage Yield on your Certificate account is set forth on the certificate itself. The Dividend Rate and Annual Percentage Yield are fixed and will be in effect for the term of the account. The Annual Percentage Yield is based on the assumption that dividends will remain on deposit until maturity. A withdrawal of dividends will reduce earnings.

2. COMPOUNDING AND CREDITING. Dividends will be compounded and credited as set forth on the certificate itself. The dividend Period begins on the first calendar day of the period and ends on the last calendar day of the period.

3. ACCRUAL OF DIVIDENDS. Dividends will begin accrue on non-cash deposits (e.g.,checks) on the business day you make the deposit to your account. If you close your account before accrued dividends are credited, accrued dividends will not be paid.

4. BALANCE INFORMATION. The minimum balance required to open the account and earn the stated Annual Percentage Yield is set forth on the certificate itself. If you do not maintain the minimum balance, you will not earn the stated Annual Percentage Yield. The dividend calculation method for your certificate is set forth on the certificate itself. The daily balance method applies a daily periodic rate to the balance in the account each day. 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.

5. ACCOUNT LIMITATIONS. After your account is opened you may not make additional deposits to a Certificate account.

6. MATURITY. Your Certificate account will mature on the maturity date stated on the reverse side. The maturity date of Certificate accounts automatically renewed will be stated on your maturity or renewal notice.

7. EARLY WITHDRAWAL PENALTY. We may impose a penalty as stated on the certificate itself if you withdraw any of the principal from your Certificate account or Individual Retirement Account (IRA) before the maturity date.

a. Amount of Penalty. The early penalty amount is set forth on the certificate.
b. How the Penalty Works. The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned at the nominal dividend rate on the account. It applies whether or not the dividend has been earned. In other words, if the account has not yet earned enough dividends or it the dividends have already been paid, the penalty will be deducted from the principal.
c. Exceptions to Early Withdrawal Penalties. At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances:
i. When an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction.
ii. Where the account is an IRA and any portion is paid within seven (7) days after establishment; provided that the depositor forfeits an amount of at least equal to the simple dividends earned on the amount withdrawn; or where the account is and IRA and the owner attains age 591/2 or becomes disabled.

8. Renewal Policy. Your account is either single term or automatically renewable as stated on the reverse side. Automatically renewable accounts will renew upon maturity for a like term at the initial term. Automatically renewed accounts will be paid dividends at the dividend rate currently in effect for the renewing term. You have a grace period after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty. The length of the grace period is stated on the certificate.

9. Nontransferable/Nonnegotiable. Your account is nontransferable and nonnegotiable. The funds in your account may not be pledged to secure any obligation of an owner, except obligations with the credit union.

10. Share Insurance. Credit Union accounts are federally insured to $100,000 by the National Credit Union Administration.

ELECTRONIC FUNDS TRANSFER
AGREEMENT AND DISCLOSURE

The Electronic Funds Transfer Agreement is the contract, which covers you, and our rights and responsibilities concerning the electronic funds transfer ("EFT") services offered to you by Chemco Federal Credit Union ("Credit Union"). In this Agreement, the words "you" and "yours" mean those who sign the application or account card as applicants, joint owners, or any authorized users. The words "we", "us", and "our" mean the Credit Union. The word
"Account" means any one or more share and checking accounts you have with the Credit Union. Electronic funds transfers are electronically initiated transfers of money from your account through the electronic fund transfer services described below. By signing an application or account card for EFT services, signing your Card, or using any service, each of you, jointly and severally, agree to the terms and conditions in this Agreement and any amendments for the EFT services offered.

1. EFT Service. If approved, you may conduct any one or more of the EFT services offered by the Credit Union.
A. Mac/Mastermoney. You may use your Card and PIN (Personal Identification Number) in automated teller machines of the Credit Union, MAC, Plus Networks, and such other machines or facilities as the Credit Union may designate. At the present time, you may use your Card to:

Make deposits to your checking accounts.
Withdraw funds from your checking accounts.
Make POS (Point-of-Sale) transactions with your Card and PIN (Personal Identification Number) to purchase goods or services at POS terminals that carry MAC, Plus network logo(s).

The following limitations on the frequency and amount of ATM transactions may apply:

You may make two (2) cash withdrawals in any one day
You may withdraw up to a maximum of $200 in any one day, if there are sufficient funds in your account
You may make two (2) POS Transactions in any one day.
You may purchase up to a maximum of $200.00 form POS Terminals per day, if there are sufficient funds in your account.
See Section 2 for transfer limitations that may apply to these transactions.

Because of the servicing schedule and processing time required in ATM operations, there is a delay between the time a deposit (either cash or check) is made and when it will be available for withdrawal. You should review the Credit Union's Funds Availability Policy to determine the availability for funds deposited at ATMs.

B. MasterMoney Check Card. You may use your card to purchase goods and services from participating merchants. You agree that you will not use your Card for any transaction that is illegal under applicable federal, state, or local law. Funds to cover your Card purchases will be deducted from your checking account. If the balance is your account is not sufficient to pay the transaction amount, the credit union will pay the amount and treat the transaction as requested to transfer funds from other deposit accounts, approved overdraft protection accounts or loan accounts that you have established with the Credit Union. If you initiate a transaction that overdraws your Account, you agree to make immediate payment of any overdrafts together with any service charges to the Credit Union. In the event of repeated overdrafts, the Credit Union may terminate all services under the Agreement. You may use your Card and PIN (Personal Identification Number) in automated teller machines of the Credit Union, MAC, Plus Networks, and such other machines or facilities as the Credit Union may designate. At the present time, you may also use your Card to:

Withdraw funds from your checking accounts
Make POS (Point-of-Sale) transactions with your Card and PIN (Personal Identification Number) to purchase goods of services at merchants that accept MasterCard.
Order goods or services by mail or telephone from places that accept MasterCard.



The following limitations on the frequency and amount of Master Money Check Card transactions may apply:

You may make four (4) MasterMoney Check Card purchases per day.
You may purchase up to a maximum of $300.00 per day, or set limit.
You may make two (2) cash withdrawals in any one day from an ATM Machine.
You may withdraw up to a maximum of $200.00 in any one day from an ATM machine, if there are sufficient funds in our account.
See section 2 for transfer limitations that may apply to these transactions.

C. Preauthorized EFTS.

Direct Deposit. Upon instruction of (i) your employer or (ii) the Treasury Department or (iii) other financial institutions, the Credit Union will accept direct deposits of your paycheck or of federal recurring payments, such as Social Security, to your share or checking accounts.
Preauthorized Debits. Upon instruction, we will pay certain recurring transactions from your share and checking account.
See section 2 for transfer limitations that may apply to these transaction

2. Transfer Limitations.

For all share accounts, no more than six (6) preauthorized, automatic, or telephone transfers and withdrawals may be made fro these accounts to another account of yours or to a third party in any month, and no more than three (3) of these six (6) may be made by check, draft, or access card to a third party. If you exceed these limitations, your account may be subject to a fee or be closed.

3. Conditions of EFT Services

a. Ownership of Cards. Any Card or other device, which we supply to you, is our property and must be returned to us, or to any person whom we authorized to act as our agent, or to any person who is authorized to honor the Card, immediately according to instructions. The Card may be repossessed at anytime at our sole discretion without demand or notice. You cannot transfer your Card or account to another person.

b. Honoring the Card. Neither we nor merchants authorized to honor the Card will be responsible for the failure or refusal to honor the Card or any other device we supply to you. If a merchant agrees to give you a refund or adjustment, you agree to accept a credit to your account in lieu of a cash refund.

c. Security of Access Code. You may use one or more access codes with your electronic funds transfers. The access codes issued to you are for your security purposes. Any codes issued to you are confidential and should not be disclosed to third parties or recorded on or with the Card. You are responsible for safekeeping your access codes. You agree not to disclose or otherwise make your access codes available to anyone not authorized to sign on your accounts. If you authorize anyone to use your access codes, that authority shall continue until you specifically revoke such authority by notifying the Credit Union. You understand that any joint owner you authorize to use an access code may withdraw or transfer funds from any of your accounts. If you fail to maintain the security of these access codes and the Credit Union suffers a loss, we may terminate your EFT services immediately.

d. Joint Accounts. If any of your accounts accessed under this Agreement are joint accounts, all joint owners, including any authorized users, shall be bound by this Agreement and, alone and together, shall be responsible for all EFT transactions to or from any share and checking or loan accounts as provided in this Agreement. Each account owner, without the consent of any other account owner, may, and hereby is authorized by every other joint account owner to, make any transaction permitted under this Agreement. Each joint account owner is authorized to act for the other account owners, and the Credit Union may accept orders and instructions regarding any EFT transaction on any account form any joint account owner.

4. Fees and Charges.

There are certain chargers for electronic funds transfer services. From time to time, the charges may be changed. We will notify you of any changes as required by applicable law.

a. MAC Fees.

We do not charge for any POS transactions at the present time.
Replacement card fee $5.00 per card
Non -sufficient funds fee of $20.00

b. Master Money Check Card Fees.

* We do not charge for any ATM withdrawals at the present time
We do not charge for any POS transactions at the present time
Replacement card Fee of $5.00 per card.
Non-sufficient funds fee of $20.00

c. Preauthorized EFT Fee.

Non-sufficient funds fee of $20.00

When using ATMs not owned by us, you may be assessed a fee. Such fees are imposed by the ATM owner, not our credit union.

5. Member Liability.

You are responsible for all transactions you authorize using your EFT services under this Agreement. If you permit someone else to use an EFT service, your Card or your access code, you are responsible for any transactions they authorize or conduct on any of your accounts. However, TELL US AT ONCE if you believe your Card and/or access code has been lost or stolen or if you believe someone has used your Card or access code or otherwise accessed your accounts without permission. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum overdraft line of credit)

You are not liable for an unauthorized MasterCard debit card transaction that was not conducted at an ATM if you can
Demonstrate that you exercised reasonable care in protecting your Card from loss or theft, you have not reported two or more incidents of unauthorized use in the past twelve (12) months, and your account is in good standing. Otherwise your liability for an unauthorized MasterCard debit card transaction that was not conducted at an ATM will be no more than $50.

For all other EFT transactions involving access devices, including transactions conducted at ATMs, your liability for unauthorized transactions is determined as follows. If you tell us within two (2) business days, you can lose no more than $50. if someone used your Card or Code without your permission. If you do NOT tell us within two (2) business days after you learn of the loss or theft of your Card or code, and we can prove that we could have stopped someone from using your Card or code without your permission if you had told us, you could lose as much as $500.

Also if your statement shows transfers that you did not make, tell us at once. If you do not tell us within sixty (60) days after the statement was mailed to you, you may not get back any money lost after the sixty (60) days if we can prove that we could have stopped someone from making the transfers if you had told us in time. If a good reason (such as a hospital stay) kept you from telling us, we will extend the time periods. If you believe your Card has been lost or stolen or that someone had transferred or may transfer money from your account without your permission, call:

(502) 772-5780
Fax: (502) 772-5784

Or write to:

Chemco Federal Credit Union
P.O. Box 32950
Louisville, KY 40232

6. Right to Receive Documentation:

a. Periodic Statements. Transfers and withdrawal made through any ATM or POS terminal, Debit Card transactions or preauthorized EFTs will be recorded on your periodic statement. You will receive a statement monthly unless there is no transaction in a particular month. In any case, you will receive a statement at least quarterly.

b. Terminal Receipt. You will get a receipt at the time you make any transaction (except inquiries) involving your account using an ATM, POS terminal, or Debit Card transaction with a participating merchant.

c. Direct Deposit. If you have arranged to have a direct deposit made to your account at least once every sixty (60) days from the same source and you do not receive a receipt (such as a pay stub), you can find out whether or not the deposit has been made by calling (502) 772-5780. This does not apply to transactions occurring outside the United States.

7. Account Information Disclosure. We will disclose information to third parties about your account or the transfer you make:

As necessary to complete transfers:
To verify the existence of sufficient funds to cover specific transactions upon request or a third party, such as a credit bureau or merchant;
To comply with government agency or court orders; or
If you give us your written permission.

8. Business Days. Our business days are Monday through Friday, excluding holidays.


9. Credit Union Liability for Failure to Make Transfers. If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we may be liable for your losses or damages. However, we will not be liable for direct or consequential damages in the following events.

a. Liability for Direct or Consequential Damages.
If, through no fault of ours there is not enough money in your accounts to complete the transaction, if any funds in your accounts necessary to complete the transaction are held as uncollected funds or pursuant to our Funds Availability Policy, or it the transaction involves a loan request exceeding your credit limit.
If you used your Card or access code in an incorrect manner.
If the ATM where you are making the transfer does not have enough cash.
If the ATM was not working properly and you knew about the problem when you started the transaction.
If circumstances beyond our control (such as fire, flood, or power failure) prevent the transaction.
If the money in our account is subject to legal process or other claim.
If funds in your account are pledged as collateral or frozen because of a delinquent loan
If the error was caused by a system of any participating ATM network.
If the electronic transfer is not completed as a result of your willful or negligent use of your Card, access code, or any EFT facility for making such transfers.
Any other exceptions as established by the Credit Union.

b. Stop Payment Rights. If you have arranged in advance to make regular electronic funds transfers out of your account(s) for money you owe others, you may stop payment of preauthorized transfers from your account. You must notify us orally or in writing at any time up to three (3) business days before the scheduled date of the transfer. We may require written confirmation of the stop payment order to be made within fourteen (14) days of any oral notification. If we do not receive the written confirmation, the oral stop payment order shall cease to be binding fourteen (14) days after it has been made.

c. Notice of Varying Amounts. If these regular payments may vary in amount, the person you are going to pay is required to tell you, ten (10) days before each payment, when it will be made and how much it will be You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment or when the amount would fall outside certain limits that you set.

d. Liability for Failure to Stop Payment of Preauthorized Transfers. If you order us to stop payment of a preauthorized transfer three (3) business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

10. Notices. All notices from us will be effective when we have mailed them or delivered them to your last know address in the Credit Union's records. Notices from you will be effective when received by the Credit Union at the address specified in the Agreement. We reserve the right to change the terms and conditions upon which this service is offered. We will mail notice to you at least twenty-one (21) days before the effective date of any change. Use of this service is subject to existing regulations governing the Credit Union account and any future changes to those regulations.

The following information is a list of safety precautions regarding the use of Automated Teller Machines (ATM) and Night Deposit Facilities.

Be aware of your surroundings, particularly at night.
Consider having someone accompany you when the ATM or night deposit facility is used after dark.
If another person is uncomfortably close to you at the time of your transaction, ask the person so step back before you complete your transaction.
Refrain from displaying your cash at the ATM or night deposit facility. As soon as your transaction is completed, place your money in your purse or wallet. Count the cash later in the safety of your car or home.
If you notice anything suspicious at the ATM or night deposit facility, consider using another ATM or night deposit facility or coming back later. If you are in the middle of a transaction an you notice something suspicious, cancel the transaction, take your Card or deposit envelope, and leave.
If you are followed after making a transaction, go to the nearest public area where people are located.
Do not write your personal identification number or code on your ATM Card.
Report all crimes to law enforcement officials immediately.

11. Billing Errors: In case of errors or questions about electronic funds transfers from your share and checking
Accounts, telephone us at the following number or send us a written notice to the following address as soon as you can. We must hear from you no later than sixty (60) days after we sent the FIRST statement on which the problem appears. Call us at:

(502) 772-5780
Fax: (502) 772-5784

Or write to:

Chemco Federal Credit Union
P.O. Box 32950
Louisville, KY 40232

Tell us your name and account number.
Describe the electronic transfer you are unsure about, and explain as clearly as you can why you need more information.
Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing within ten (10) business days.

We will tell you the results of our investigation within ten (10) * business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days** to investigate your complaint or question. If we decide to do this, we will credit your account within ten (10)* business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our nvestigation. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not credit your account.



We will tell you the results within three (3) business days of completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

*If you give notice of an error within thirty (30) days after you make the first deposit to your account, we will have 20 business days instead of ten (10) business days.

** If you give notice of an error within thirty (30) days after you make the first deposit to your account, notice of an error involving a point of sale transaction, or notice of an error involving a transaction initiated outside of the U>S> its possessions and territories, we will have ninety (90) days instead of forty-five (45) days to investigate.

12. Termination of EFT Service. You may terminate this Agreement or any EFT service under this Agreement at any time by notifying us in writing and stopping your use of your Card and any access code. You must return all Cards to the Credit Union. You also agree to notify any participating merchants that authority to make bill payment transfers has been revoked. We may also terminate this Agreement at any time by notifying you orally or in writing. If we terminate this Agreement, we may notify any participating merchants making preauthorized debits or credits to any of your accounts that this Agreement has been terminated and that we will not accept any further preauthorized transaction instructions. We may also program our computer not to accept your Card or access code for any EFT service. Whether you or the Credit Union terminated this Agreement, the termination shall not affect your obligations under this Agreement for nay EFTs made prior to termination.

13. Governing Law. This Agreement is governed by the Bylaws of the Credit Union, federal laws and regulations, the laws and regulations of the state of Kentucky and local clearinghouse rules, as amended from time to time. Any disputes regarding this Agreement shall be subject to the jurisdiction of the court of the county in which the Credit Union is located.

14. Enforcement. You are liable to us for any loss, cost or expenses we incur resulting from your failure to follow this Agreement. You authorize us to deduct any such loss, costs or expenses from your account without prior notice to you. If we bring a legal action to collect any amount due under or to enforce this Agreement, we shall be entitled, subject to applicable law, to payment of reasonable attorney's fees and costs, including fees on any appeal, bankruptcy proceedings and any post-judgement collection actions.

Chemco Federal Credit Union
P.O. Box 32950
Louisville, KY 40232
(502) 772-5780
Fax: (502) 772-5784

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