Truth-in-Savings Disclosure

Rates effective date:

The rates, fees and terms applicable to your account at the Credit Union are provided with this Truth-in-Savings Disclosure. The Credit Union may offer other rates for these accounts from time to time.

Except as specifically described, the following disclosures apply to all of the accounts. All accounts described In this Truth-in-Savings Disclosure are share accounts.

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 Savings, Secondary Savings, Christmas Club, Vacation Club, IRA Savings, Health Savings, Money Market, High Yield, Kasasa Saver, Kasasa Cash Checking, and Kasasa Cash + Checking accounts, the dividend rate and annual percentage yield may change at any time as determined by the Credit Union's Board of Directors. The dividend rates and annual percentage yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period. Money Market, High Yield accounts are tiered rate accounts. The balance ranges and corresponding dividend rates and annual percentage yields applicable to each tier are disclosed in the Rate Schedule. For Money Market and High Yield accounts, 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. The Kasasa Saver, Kasasa Cash Checking, and Kasasa Cash + Checking accounts are tiered rate accounts. Please refer to section 2 for additional details about these accounts. 

Rate Information for Money Market+ Accounts

Rate Information for Boost Savings Accounts

2. Kasasa Accounts

For Kasasa Cash Checking, Kasasa Cash Back Checking, and Kasasa Cash + Checking accounts, you may qualify for monthly rewards if you meet the applicable minimum qualification requirements for the monthly qualification cycle. To meet the minimum qualification requirements for Kasasa Cash Checking, and Kasasa Cash Back Checking, you must a) make 12 debit card purchases that post and settle to your account; b) access Online Banking at least one time per month; and c) be enrolled in and receive e-statements. To meet the minimum qualification requirements for Kasasa Cash+ Checking, you must a) make 24 debit card purchases that post and settle to your account; b) access Online Banking at least one time per month; c) be enrolled in and receive e-statements; and d) have an aggregated minimum of $1,000.00 in direct deposits per month to your qualifying Kasasa Checking account. Kasasa Saver, Kasasa Cash Checking, Kasasa Cash Back Checking, and Kasasa Cash+ Checking accounts are limited to one account per Social Security Number.

Kasasa Cash Checking, Kasasa Cash Back Checking, and Kasasa Cash+ Checking accounts are intended to be your primary checking account in which payroll transactions and day-to-day spending activities, including but not limited to grocery, gasoline, apparel, shopping, dining, sporting and entertainment transactions, are posted and settled.

Commensurate with the spending activities identified above, we expect the account's debit card to be used frequently throughout each month and for transaction amounts to reflect a wide dollar range. Any debit card purchase transaction(s) completed on the same day at a single merchant and/or multiple transactions made during a condensed time period during the monthly qualifications cycle will not be considered normal, day-to-day spending behavior. These types of transactions appear to be conducted with the sole purpose of qualifying for the account's rewards and thus will be deemed inappropriate transactions and will not count toward earning the account's rewards.

KALSEE Credit Union reserves the right to determine if the account is being maintained for a purpose other than day-to-day, primary use. Accountholders who persist in making debit card transactions in a calculated and limited fashion in order to meet their monthly qualifications may have their accounts converted to a different checking account or closed altogether. We also reserve the right to convert the account to a different checking account if the account does not have consistent active use over three consecutive statement cycles.

We have the right to close this account at any time, with proper notice. Our decision to close the account will not affect your existing obligations to us including any obligation to pay fees or charges incurred prior to termination. No deposits will be accepted, and no checks will be paid after the account is closed. If the account is closed, you will forfeit any rewards that have not been credited to your account. A KALSEE Credit Union check for the remaining balance, if applicable, will be mailed to accountholder at the address indicated on our current records. Upon termination of your Kasasa account, any optional add on products / services associated with this account will also be terminated at the same time.

Monthly Qualification Cycle

The monthly qualification cycle is defined as the period beginning one day prior to the first day of the statement cycle and ending one day prior to the close of the statement cycle. For example, monthly qualification cycles end: 

• January 30th
• February 27th (28th on leap years)
• March 30th
• April 29th
• May 30th
• June 29th
• July 30th
• August 30th
• September 29th
• October 30th
• November 29th
• December 30th

Purchases made on the last day of the statement cycle count toward the next monthly qualification cycle.

Kasasa Saver

The Kasasa Saver account is a tiered rate account and is available only to holders of a Kasasa Cash Checking, Kasasa Cash Back Checking, or Kasasa Cash+ Checking account. If you meet the minimum qualification requirements for the Kasasa Cash Checking, Kasasa Cash Back Checking, or Kasasa Cash+ Checking account, the first dividend rate and annual percentage yield listed for this account in the Rate Schedule will apply to balances of $50,000.00 and below. The second dividend rate and annual percentage yield listed for this account will apply to balances of $50,000.01 or greater. Each dividend rate will apply only to that portion of the account balance within each balance range. If you do not meet all of the minimum qualification requirements during the monthly qualification cycle, the third dividend rate and annual percentage yield as listed in the Rate Schedule will apply to the entire balance in your Kasasa Saver account.

Kasasa Cash Checking

The Kasasa Cash Checking account is a tiered rate account. If you meet the minimum qualification requirements during the monthly qualification cycle, the first dividend rate and annual percentage yield listed in the Rate Schedule will apply to balances $25,000.00 and below. The second dividend rate and annual percentage yield listed for this account will apply to balances of $25,000.01 or greater. Each dividend rate will apply only to that portion of the account balance within each balance range. In addition, we will refund up to $10.00 in ATM fees assessed at domestic ATMs we do not own or operate. An ATM receipt must be presented for reimbursement of individual ATM fee of $5.00 or higher. If you have a Kasasa Saver account, dividends earned on the Kasasa Cash Checking and ATM fees refunded to you will automatically be transferred to your Kasasa Saver account; in that event, dividends will not compound in the Kasasa Cash Checking account. If you do not have a Kasasa Saver account, dividends earned and ATM fees reimbursed will remain in your Kasasa Cash Checking account. If you do not meet all of the monthly qualification requirements, the third dividend rate and annual percentage yield as listed in the Rate Schedule will apply to the entire balance in your Kasasa Saver account and A TM fees will not be refunded to you.

Kasasa Cash Back Checking

For Kasasa Cash Back Checking accounts, you will receive 3.00% cash back on up to $300.00 in debit card purchases that post and settle to your account if you meet the minimum qualification requirements during the monthly qualification cycle. In addition, you will receive a refund of up to $10.00 in ATM fees assessed at domestic ATMs we do not own or operate. An ATM receipt must be presented for reimbursement of individual ATM fee of $5.00 or higher. If you have a Kasasa Saver account, ATM fees refunded to you will automatically be transferred to your Kasasa Saver account. If you do not have a Kasasa Saver account, A TM fees reimbursed will remain in your Kasasa Cash Back Checking account. If you do not meet all of the monthly qualification requirements, you will not earn a cash back reward and ATM fees will not be refunded to you.

Kasasa Cash+ Checking

The Kasasa Cash + Checking account is a tiered rate account. If you meet the minimum qualification requirements during the monthly qualification cycle, the first dividend rate and annual percentage yield listed in the Rate Schedule will apply to balances $20,000.00 and below. The second dividend rate and annual percentage yield listed for this account will apply to balances of $20,000.01 or greater. Each dividend rate will apply only to that portion of the account balance within each balance range. In addition, we will refund up to $10.00 in A TM fees assessed at domestic ATMs we do not own or operate. An ATM receipt must be presented for reimbursement of individual ATM fee of $5.00 or higher. If you have a Kasasa Saver account, dividends earned on the Kasasa Cash+ Checking and ATM fees refunded to you will automatically be transferred to your Kasasa Saver account; in that event, dividends will not compound in the Kasasa Cash+ Checking account. If you do not have a Kasasa Saver account, dividends earned and ATM fees reimbursed will remain in your Kasasa Cash+ Checking account. If you do not meet all of the monthly qualification requirements, the third dividend rate and annual percentage yield as listed in the Rate Schedule will apply to the entire balance in your Kasasa Saver account and ATM fees will not be refunded to you. 

3. Nature of Dividends

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

4. Dividend Compounding and Crediting

The compounding and crediting frequency of dividends and the dividend period applicable to each account are stated 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.

5. 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 account. For Money Market+
and Boost Savings accounts, if you close your account before accrued dividends are credited, you will not receive the accrued dividends.

6. Balance Information

To open any account, you must deposit or already have on deposit the minimum required share(s) in a Regular Savings account. You can find this information on the Savings Account TISA. Some accounts may have additional minimum opening deposit requirements. The minimum balance requirements applicable to each account are set forth in the Money Market Rate Schedule. For accounts using the daily balance method as stated in the Rate Schedule, dividends are calculated by applying a daily periodic rate to the principal in the account each day.

7. Account Limitations

For Money Market+ and Boost Savings accounts, you may make no more than six (6) transfers and withdrawals from your account to another account of yours or to a third party in a month by means of preauthorized, automatic, or Internet transfer, by telephonic order or instruction, or by check, draft, debit card or similar order. If you exceed these limitations, your account may be subject to a fee or be closed. For Money Market+ accounts, the minimum amount you may withdraw is $500.00. For Boost Savings accounts, the minimum amount you may withdraw is
$50.00.

8. Membership

As a condition of membership, you must purchase and maintain the minimum required share(s) as set forth below.

Par Value of One Share: $1.00
Number of Shares Required: 1

9. Rates

The rates provided in or with the Money Market Rate Schedule are accurate as of the effective date indicated on this Truth-In-Savings Disclosure. If you have any questions or require current rate information on your accounts, please call the Credit Union at 269-382-7800.

10. Fees

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