Cornerstone Credit Union

Term
6 Months
12 Months
24 Months

APY%
2.90%
3.50%
3.90%

APY%
2.90%
3.50%
3.90%

APY%

Penalty Section – Share Certificate
     Except for dividend withdrawals, the following penalty will be assessed:
a.) If the maturity is less than 1 year, there will be a forfeiture of 1 months dividend.
b.) If the maturity is longer than 1 year, there will be a forfeiture of 3 months worth of dividends.
c.) If the amount required to be forfeited exceeds the amount of earned dividends in your account,
      this amount will be deducted from the amount you requested to withdraw.
d.) Penalty will not be applied if withdrawal is made subsequent to the death of any certificate owner.

Penalty Section – IRA Share Certificate
     IRA Share Certificate accounts are subject to certificate penalties of early withdrawal
     except in the following instances:
a.) If the IRA Share Certificate owner reaches the age of 59 _ years of age.
b.) Early withdrawal penalty in addition to dividend, $25.00 per occurrence.

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. On the IRA Savings account above, the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union’s Board of Directors.

This rate schedule sets forth certain conditions and rates that are applicable to your Share, Share Draft and miscellaneous accounts at The Cornerstone Credit Union at this time. The Cornerstone Credit Union may offer other rates than are contained in this schedule from time to time. Each member agrees to the terms set forth in this rate schedule and acknowledges that it is a part of the membership agreement.  Rates may vary after the account is opened.

Rates good as of 1/22/2008 and the APY accurate as of the last dividend declaration date.

Account Rates & Terms

Dividend Rate
Up to $5,000
Over $5,000
Over $25,000

 
.50%
.75%

 
.20%
.20%

 
2.00%
2.00%

 
1.75%
1.75%
1.25%

 
1.00%
1.25%

Annual % Yield
Up to $5,000
Over $5,000
Over $25,000

 
.51%
.76%

 
.20%
.20%

 
2.02%
2.02%

 
1.76%
1.76%
1.26%

 
1.01%
1.26%

Balance Method
(Example: Average Balance, times APR Rate, divided by 12)

*Per withdrawal other than October 1st or November 1st of each year.  Imposition of fee will reduce account's earnings on both Christmas and Vacation Club accounts.
**Per withdrawal over 6 per year.

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. On all accounts above, the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union's Board of Directors. For current rate information, call 1-515-274-2343 or 1-800-273-3488. Dividends begin accruing immediately regardless of the type of deposit. Dividends will not be paid on any account that is closed before accrued dividends are paid on the last day of each month. On all types of Share Accounts, (except term accounts), dividends are paid from available income after all required reserve transfers have been made at the end of each month.