Disclosures

ONLINE BILL PAY   How does it work? Online Bill Pay allows you to pay your bills from the convenience of your own home!  All you need is a computer, internet access, on Home Banking and a checking account with the credit union.  You will visit the Bill Pay site through a link on our home page.  This Online Bill Pay site allows you to: View your scheduled monthly payments Make monthly payments online (through regular and express service) Keep a payee list View your payment history You begin making payments by setting up your account information (checking account number and routing number) and by adding payees (companies you send your bills to such as Charter Communications, UPPCO, Semco, etc).  You can add as many payees as you like and pay all of your bills online!  Once you set up a payment (the date, amount, and company you want it sent to), the Bill Pay company prints out a check, puts it in an envelope and sends it off to your creditor. (PLEASE NOTE:  Your very first transaction with Bill Pay could take up to 10 days to get to your creditor.  We recommend that you send your first payment to yourself as a test.  Every transaction after that takes the standard postal service time of three to five business days.) How much does it cost? Bill Pay is FREE for its services!   Effective October 31, 2005, an INACTIVE FEE will apply to those accounts that are signed up but are not being used.  This fee is $1.25 each month the Bill Pay account is not used. Bill Pay charges for the same transactions that the Credit Union charges for - items such as an Insufficient Funds Fee, Return Check Fee, etc.  Here's a breakdown of the fees: FEES CHARGED BY BILL PAY:  Insufficient Funds Fee $15.00   Stop Payment Fee $15.00   Per Transaction Fee  FREE  Inactive Account Fee  $1.25 How fast can I sign up? CLICK HERE TO GO TO SIGN UP ON OUR HOME BANKING SITE Electronic Disclosure:  Please read the Bill Pay "Terms and Conditions" carefully in its entirety.  You will be asked to indicate your consent to the same and to receive the Agreement and Initial Disclosure ("Agreement") electronically by clicking the "I Accept" button.  If you are not in agreement with the Bill Pay Agreement, please exit the website. YOUR URE OF THE BILL PAY WEBSITE SHALL CONSTITUTE YOUR AGREEMENT TO THE TERMS AND CONDITIONS AS STATED.  We suggest you print a copy of the Bill Pay Agreement for future reference.  Terms pertaining to fees are listed above on this web page.  Any questions regarding Bill Pay and the use of it should be directed to the Baraga County Federal Credit Union.

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents. Truth In Savings Terms and Conditions The Truth in Savings Act (T-I-S) is a section of the Federal Deposit Insurance Corporation Improvement Act of 1991.  The National Credit Union Administration is charged with enforcing the act which applies to All credit unions. The purpose of T-I-S is to promote and simplify comparisons amount accounts at all financial institutions.  T-I-S enables consumers to make informed choices/comparisons among competing claims of financial institutions by requiring disclosure of the interest rates payable on these accounts and the fees assessable against these accounts. It is the intent of Baraga County Federal Credit Union to maintain compliance with this federal law pertaining to full disclosure regarding the terms and conditions of all savings programs. The following disclosure information illustrates the various savings alternatives available at Baraga County Federal Credit Union.   The Rate Information and Fees and Charges Schedule sets forth certain conditions, rates, fees and charges applicable to your accounts at the Baraga County Federal Credit Union as of September 3, 1996.  That schedule is incorporated as part of this disclosure. If you have questions regarding any of the accounts offered at Baraga County Federal Credit Union, please let a credit union representative assist you. SHARE/SAVINGS ACCOUNT RATE INFORMATION: The dividend rate and annual percentage yield may change every dividend period.  We may change the dividend rate for your account as determined by the credit union board of directors. COMPOUNDING AND CREDITING Dividends will be compounded quarterly and will be credited quarterly. For this account type, the dividend period is quarterly, for example, the beginning date of the first dividend period of the calendar year is 01/01/01 and the ending date is 03/31/01.  All other dividend periods follow this same pattern of dates.  The dividend declaration date follows the ending date of a dividend period , and for the example is 03/31/01. If you close your account before dividends are paid, you will not receive the accrued dividends. BALANCE COMPUTATION METHOD Dividends are calculated by the daily balance method which applies daily periodic rate to the balance in the account each day. MINIMUM BALANCE REQUIREMENTS You must maintain a minimum daily balance of $10.00 in your account each day to obtain the disclosed annual percentage rate. The minimum balance required to open this account is $10.00. ACCRUAL OF DIVIDENDS ON NON-CASH DEPOSITS Dividends will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account. SHARE DRAFT ACCOUNT RATE INFORMATION: The dividend rate and annual percentage yield may change every dividend period.  We may change the dividend rate for your account as determined by the credit union board of directors.  COMPOUNDING AND CREDITING Dividends will be compounded quarterly and will be credited quarterly.   For this account type, the dividend period is quarterly, for example, the beginning date of the first dividend period of the calendar year is 01/01/01 and the ending date of such dividend period is 03/31/01.  All other dividend periods follow this same pattern of dates.  The dividend declaration date follows the ending date of a dividend period, and for the example if 03/31/01. If you close your account before dividends are paid, you will not receive the accrued dividends. BALANCE COMPUTATION METHOD Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in the account for the period.  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. MINIMUM BALANCE REQUIREMENT No minimum balance requirements apply to this account.  You must maintain a minimum average daily balance of $700.00 in your account to obtain the disclosed annual percentage yield. ACCRUAL OF DIVIDENDS ON NON-CASH DEPOSITS Dividends will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account. CHRISTMAS CLUB ACCOUNT COMPOUNDING AND CREDITING For this account type, the dividend period is annually, for example, the beginning date of the first dividend period of the calendar year is 10/01/01 and the ending date of such dividend period is 9/30/01.  All other dividend periods follow his same pattern of date.  The dividend declaration date follows the ending date of a dividend period, and for this example is 10/01/01. If you close your account before dividends are paid, you will not receive the dividend. BALANCE COMPUTATION METHOD Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in the account for the period  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. ACCRUAL OF DIVIDENDS ON NON-CASH DEPOSITS Dividends will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account.TIME REQUIREMENTS  Your account will mature after 12 months.   TRUTH IN SAVINGS  FEE SCHEDULE FEES AND CHARGES Effective March 18, 2008 FEES APPLICABLE TO ALL ACCOUNTS (EXCEPT CERTIFICATES): Insufficient Funds Fee / ACH     $15.00 per item Account Reconciliation Fee $  0.00hourly fee determined by credit union Statement Copies Fee $  1.00 per statement Wire Transfer Fee   $  5.00 per transfer, share to share $15.00 per transfer, domestic $30.00 per transfer, international Credit Union Check Fee VISA Gift Card Fee    Replace ATM/Debit card      $  1.00 per item $  2.50 per card $  2.00 per card SHARE DRAFT ACCOUNT FEES: Monthly Service Fee       $  2.00 per month Overdraft transfers fee $  1.00 if transferred from same account $  5.00 per day if transferred from seperate account Drafts returned insufficient funds fee $15.00 per draft Stop Payment Order Fee $15.00 per order,only if draft tries to clear Draft/Check printing fee -- Varies depending on the style of check ordered. Check Copy Fee $ 1.00 FUNDS AVAILABILITY POLICY DISCLOSURE YOUR ABILITY TO WITHDRAW FUNDS Our policy is to make funds from your cash and check deposits available to you on the same business day that we receive your deposit.  At that time, you can withdraw the funds in cash and we will use the funds to pay checks that you have written.  Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.  For determining the availability of your deposits, every day is a business day, except Saturday, Sundays and Federal Holidays.  If you make a deposit before closing on a business day that we are open, we will consider that day to be the day of your deposit.  However, if you make a deposit after closing or on a day that we are not open, we will consider that the deposit was made on the next business day that we are open. Reservation of right to hold:  In some cases, we will not make all of the funds that you deposit by check available to you on the same business day as the day of your deposit.  Depending on the type of check that you deposit, funds may not be available until 3-5 business days after the day of your deposit.  However, the first $100.00 of your deposit will be available on the same business day.   If we are not going to make all of the funds from your deposit available on the same business day, we will notify you at the time that you make your deposit.  We will also tell you when the funds will be available.  If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail to you the notice by the day after we receive your deposit.  If you need the funds from a deposit right away, you should ask us when the funds will be available. We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available.  They will generally be available no later than the fourth business day after the day that your deposit is otherwise available for withdrawal.   Holds on other funds:  If we cash a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in your account.  Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.  If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds in another account with us.  The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited. Interest payment policy:  If we receive a deposit to your share draft account on or before the 10th of the month, you begin earning interest on the deposit (whether it was a deposit of cash or checks) as of the 1st day of the month.  If we receive the deposit after the tenth of the month, you begin earning interest on the deposit as of the first of the following month.  For example, a deposit made on June 7th earns interest from June 1st, while a deposit made on June 17th earns interest from July 1st.   DEPOSITS AT AUTOMATED TELLER MACHINES Funds from any deposits (cash or checks) made at automated teller machines (ATMs) will be available on the second business day after the day of deposit, except that U.S. Treasury checks that are payable to you deposited after the day of deposit.    ELECTRONIC FUND TRANSFERS - YOUR RIGHTS AND RESPONSIBILITIES Indicated below are types of Electronic Fund Transfers we are capable of handling some of which may not apply to your account.  Please read this disclosure carefully because it tells you your rights and obligations for the transactions listed. Preauthorized credits.  You may make arrangements for certain direct deposits (such as U.S. Treasury (Social Security) or Michigan State payroll) to be accepted into your checking or share savings account(s). Preauthorized payments.  You may make arrangements to pay certain recurring bills from your checking or share savings account(s). ATM Transfers - types of transfers, dollar limitation, and charges.  You may access your account(s) by ATM using your ATM card and personal identification number or MasterMoney card and personal identification number, to: make deposits to checking or share savings account(s) get cash withdrawals from checking or share savings account(s) the dollar limit will be disclosed in writing at account opening. there is a charge of $1.00 per withdrawal at ATMs we do not own or operate. transfer funds from share savings to checking account(s) there is a charge of $1.00 per transfer at ATMs we do not own or operate. transfer funds from checking to share savings account(s) there is a charge of $1.00 per transfer at ATMs we do not own or operate. get information about: the account balance of your checking account(s). the account balance of your share savings account(s). Some of these services may not be available at all terminals. Types of MasterMoney Point-of-Sale Transactions - You may access your checking  account(s) to purchase goods (in person or by phone), pay for services (in person or by phone), get cash from a merchant, it the merchant permits, or from a participating financial institution, and do anything that you can do with a credit card (that a participating merchant will accept with a credit card). Point-of-Sale Transactions - dollar limitations - Using your card: the dollar limit will be disclosed in writing at account opening. Minimum account balance - You must maintain a minimum account balance of $10.00 in your share savings account as a condition of using an access device (card and/or identification code) to accomplish a transfer. DOCUMENTATION Terminal transfers.  You can get receipt at the time you make any transfer to or from your account using one of our automated teller machines or point-of-sale terminals. Periodic statements. You will get a monthly account statement from us for your checking accounts. You will get a monthly account statement from us for your savings accounts, unless there are no transfers in a particular month.  In any case, you will get a statement at least quarterly.  Credit Card Disclosures ANNUAL PERCENTAGE RATE (APR) FOR PURCHASES 12.9% Other APRs Cash Advance APR:  12.9% Balance Transfer APR:  12.9% Minimum Finance Charge Annual Membership Fee -0- -0- Grace Period For Repayment of the Balance for Purchases 25 Days Late Payment Fee Over the Limit Fee $10.00 $10.00 Method of Computing The Balance For Purchases Average Daily Balance including new purchases This information was printed on September 16, 2003, and was accurate as of that date.  This information is subject to change without notice.  You may write us at P.O. Box 38, L'Anse, MI  49946 for this purpose.