The rates, fees and terms applicable to your Account at the Credit Union are provided in the Rate & Fee Schedule.  The Credit Union may offer other rates for these Accounts from time to time.
EFFECTIVE DATE: July 24, 2009

Except as specifically described, the following disclosures apply to all of the Accounts listed above:

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 all accounts except the Promotional Savings, the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union's Board of Directors.  The Promotional Account is a fixed rate Account for a specified period of time as determined by the Board of Directors.

NATURE OF DIVIDENDS:

Dividends are paid from current income and available earnings after required transfer to reserves at the end of the dividend period.  The Dividend Rates and Annual Percentage Yield are the prospective rates and yields that the Credit Union anticipates paying.

DIVIDENDS 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 the first calendar day of the period and ends on the last calendar day of the period.

ACCRUAL OF DIVIDENDS:

For all accounts, dividends will be gin to accrue on non-cash deposits (e.g. checks) on the business day you make the deposit to your account.  For Savings, 'Pee Wee Young Savers Club
, Christmas Club and Checking Accounts if you close your Account before accrued dividends are credited, accrued dividends will not be paid.

BALANCE INFORMATION:

The minimum balance requirements applicable to each Account are set forth in the Rate and Fee Schedule.  For Checking Accounts, there is a minimum actual daily balance of $0 or above required to avoid a service fee for the dividend period.  If the minimum actual daily balance is not met, there will be a service fee as set for in the Credit Union's Fee Schedule.  For Savings, Christmas Club and Checking 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 all accounts using an Average Daily balance method, dividends are calculated by applying the 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 principle in the Account foe each day of the period and dividing that figure by the number of days in the period.

ACCOUNT LIMITATIONS:

For all Accounts, refer to the Rate Schedule foe applicable Account Limitations.

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Term Share Certificates & Individual Retirement Accounts

The rates, fees and terms applicable to your Account at the Credit Union are provided in the Rate & Fee Schedule.  The Credit Union may offer other rates for these Accounts from time to time.
EFFECTIVE DATE: July 24, 2009

+ Additional deposits not allowed. Withdrawals allowed with penalty, automatic renewal.

Except as specifically described, the following disclosures apply to all of the Accounts listed above:

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 all accounts, the Dividend Rate and Annual Percentage Yield may change weekly as determined by the Credit Union's Board of Directors. 

NATURE OF DIVIDENDS:

Dividends are paid from current income and available earnings after required transfer to reserves at the end of the dividend period.  The Dividend Rates and Annual Percentage Yield are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period.

DIVIDENDS 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 the first calendar day of the deposit and is posted 90days from the deposit date on the first available business day.

ACCRUAL OF DIVIDENDS:

For all accounts, dividends will be gin to accrue on non-cash deposits (e.g. checks) on the business day you make the deposit to your account. 

BALANCE INFORMATION:

The minimum balance requirements applicable to each Account are set forth in the Rate Schedule. 

ACCOUNT LIMITATIONS:

For all Term Share Certificates of Deposit, and IRA accounts, additional deposits prior to the maturity of the Account are not allowed.  Withdrawals are allowed with a penalty only.  The Account is automatically renewed at the current dividend rates applicable at maturity if the member does not notify the Credit Union otherwise.

Additional Disclosure Information

Renewal Policy:

The renewal policy for your Accounts is as follows:  The Account will automatically be renewed at the close of the business day on the maturity date or the maturity date of any renewed or extended terms unless at least 10 days prior to that date Baker's Federal Credit Union gives as written notice to the certificate holder that this certificate will not be renewed at the initial rate of interest.  If the member does not respond to the maturity notice given prior to the maturity of the Certificate or IRA, the Account will automatically be renewed at the current rates applicable for the previous invested term.

Nontransferable/Nonnegotiable:

Your Account is nontransferable and nonnegotiable.  The funds in your IRA Account may not be pledged to secure any obligation of an owner.  The funds in your Certificate of Deposit Account may not be pledged to secure any obligation of an owner, except obligations at the Credit Union.

Early Withdrawal Penalty:

We may impose a penalty if you withdrawal any of the principle before the maturity date.

Amount of Penalty:

For all Accounts, the amount of the early withdrawal penalty is based on the term of your Account.  The penalty schedule is as follows:
 

Terms of 12 Months or Less	90 Days Dividend
Terms of Over 12 Months	180 Days Dividends

How the Penalty Works:

The penalty is calculated as a forfeiture of part of the dividends that have been, or would be earned on the Account.

Exceptions to Early Withdrawal Penalty:

At our option, we may pay the Account before maturity without imposing an early withdrawal penalty under the following circumstances:

1. When an Account owner dies or is determined to be legally incompetent by a court or other body of competent jurisdiction.

2. Where the Account is an IRA and any portion is paid within seven (7) days after establishment; or where the Account is a Keogh Plan provided that the depositor forfeits an amount of at least equal to the simple dividends earned in the amount withdrawn; or where the Account is an IRA or Keogh and the owner attains the age of 59 1/2, or becomes disabled.