IRA Account Rates

Description	Dividend	APY*	Minimum Balance
Time Deposit
1 year	.35%	.35%	$0.00
Adjustable Rates
12 Months	1.84%	1.85%	$5,000
18 Months	1.89%	1.90%	$5,000
24 Months	1.94%	1.95%	$5,000
Fixed Rates
6 Months	1.84%	1.85%	$100,000
6 Months	1.74%	1.75%	$5,000
1 Year	2.25%	2.27%	$5,000
18 Month	2.29%	2.31%	$5,000
2 Year	2.54%	2.56%	$5,000
30 Months	2.97%	3.00%	$5,000
3 Year	3.00%	3.03%	$5,000
4 Year	3.26%	3.30%	$5,000
1 Year	1.74%	1.75%	$500
2 Year	1.84%	1.85%	$500

Important:
*Contact the HAPO financial nearest you for current rate information or promotional special offerings. Rates may vary. Rates and APY (Annual Percentage Yield), are subject to change without notice.

Except as described, the following disclosures apply to all of the accounts:

• Rate Information - For Fixed Rate Certificate accounts, the Dividend Rate and Annual Percentage Yield are fixed and will be in effect for the initial term and reset for any renewal term of the account. For Adjustable Rate Certificate accounts, you have a one time option to adjust the rate during the term. The initial Dividend Rate will remain fixed from the time you open the account until you elect to adjust the rate. The Adjustable Dividend Rate is the Dividend Rate being paid for new Certificate accounts of the same class at the same time the adjustment is made. For all Certificate accounts, the Annual Percentage Yield is based on an assumption that interest will remain on deposit until maturity. A withdrawal of dividends will reduce earnings.
  
• Nature of Dividends - The Dividend Rate and Annual Percentage Yield set forth above are the prospective rates that the Credit Union anticipates paying for the applicable dividend period.
  
• Compounding and Crediting - Dividends will be compounded and credited quarterly and at maturity. For all accounts, dividends are calculated by the average daily balance method. Dividends are calculated by applying a periodic rate to the average daily balance in the account for the dividend period. 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 determine the average daily balance.
  
• Balance Information - The minimum balance required to open each account is set forth above.
  
• Add-on Feature - Some certificates allow additional deposits to be made during the term. Please contact the credit union for additional information. The initial rate will remain in effect until time of maturity.
  
• IRA Account Features
  
  • Account Limitations: After your account is opened, you may not make additional deposits to a Certificate account. For IRA Time Deposit accounts, after your account is opened you may make additional deposits to your account. You may make dividend withdrawals, subject to early withdrawal penalties.
    
  • Maturity: Your Certificate or Time Deposit account will mature within the maturity date set forth on your Account Receipt or Renewal Notice.
    
  • Early Withdrawal Penalty: We may impose a penalty if you withdraw any of the principal of your Certificate or Time Deposit account before the maturity date.
    
    • Amount of Penalty - For IRA accounts, the amount of the early withdrawal penalty is based on the following penalty schedule:
      
    • Withdrawal Penalty
      
    • Terms 1 year and under 90 days dividends
      
    • Terms after 1 year 90 days dividends
      
    • Terms 2 years and over 120 days dividends
      
    • For IRA Time Deposit accounts, the amount of the early withdrawal penalty is 90 days dividends.
      
    • How the Penalty Works - The penalty is calculated as a forfeiture of part of the interest that has been or would be earned at the nominal rate on the account. It applies whether or not the interest has been earned. In other words, if the account has not yet earned enough interest or if the interest has already been paid; the penalty will be deducted from the principal. The penalty will be based on the account balance on the day of your withdrawal.
      
      • 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:
        1. When an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction.
        2. Where the IRA account is paid within seven (7) days after establishment; provided that the depositor forfeits an amount of at least equal to the simple interest earned in the amount withdrawn; or where the account is a Time Deposit IRA and the owner attains age 59 ½ or becomes disabled.
        
    • Renewal Policy - IRA certificates and Time Deposit accounts are automatically renewable accounts. At maturity, your account will renew for anther term at the current Dividend Rate offered at that time. You may call the Credit Union at maturity to obtain the Dividend Rate and Annual Percentage Yield for the renewal term. You have a grace period of ten (10) business days after maturity in which to withdrawal funds in the account without being charged an early withdrawal penalty .
      
    • Nontransferable/Nonnegotiable - Your account is nontransferable and nonnegotiable. The funds in your account may not be pledged to secure any obligation of any owner, except obligations within the Credit Union.