Welcome to Rockland Federal Credit Union :: Applications/Forms :: Forms/Disclosures

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TIS

TABLE OF CONTENTS

TERMS AND CONDITIONS
Important Information About Procedures for Opening a New Account
Agreement
Bylaws
Liability
Deposits
Withdrawals
Ownership of Account and Beneficiary Designation
Business Accounts
Stop Payments
Telephone Transfers
Amendments and Termination
Statements
Account Transfer
Direct Deposits
Temporary Account Agreement
Right to Repayment of Indebtedness
Authorized Signer
Restrictive Legends
Credit Verification
Pledges
ACH and Wire Transfers
Facsimile Signatures
Power of Attorney
Stale-Dated Checks
Indorsements
Unclaimed Property
Death or Incompetence
UTMA Accounts
Fiduciary Accounts
Cash Transaction Reporting
Backup Withholding/TIN Certification
Lost, Destroyed, or Stolen Certified, Cashier's, or Teller's Checks
Changing Account Products
Legal Actions Affecting Your Accounts
Check Processing
Address or Name Changes
Resolving Account Disputes
ELECTRONIC FUND TRANSFERS
IDENTITY THEFT
FUNDS AVAILABILITY DISCLOSURE
TRUTH-IN-SAVINGS DISCLOSURE
Free Checking (Share Draft) Account
Dividend Checking (Share Draft) Account
Image Checking Account
Statement Savings Account
Passbook Savings Account
Money Market Account
Advantage Savings Account
High Yield Reward Savings Account
Club Savings Account
Christmas Club Account
IRA Money Market Account
IRA Savings Account

TERMS AND CONDITIONS

OF YOUR ACCOUNT

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.

AGREEMENT - This document, along with any other documents we give you pertaining to your account(s), is a contract that establishes rules which control your account(s) with us. Please read this carefully. If you sign the signature card or open or continue to have your account with us, you agree to these rules. You will receive a separate schedule of rates, qualifying balances, and fees if they are not included in this document. If you have any questions, please call us.

This agreement is subject to applicable federal laws and the laws of the state of Massachusetts (except to the extent that this agreement can and does vary such rules or laws). The body of state and federal law that governs our relationship with you, however, is too large and complex to be reproduced here. The purpose of this document is to:

1. summarize some laws that apply to common transactions;
2. establish rules to cover transactions or events which the law does not regulate;
3. establish rules for certain transactions or events which the law regulates but permits variation by agreement; and
4. give you disclosures of some of our policies to which you may be entitled or in which you may be interested.

If any provision of this document is found to be unenforceable according to its terms, all remaining provisions will continue in full force and effect. We may permit some variations from our standard agreement, but we must agree to any variation in writing either on the signature card for your account or in some other document.

As used in this document the words "we," "our," and "us" mean the financial institution and the words "you" and "your" mean the account holder(s) and anyone else with the authority to deposit, withdraw, or exercise control over the funds in the account. The headings in this document are for convenience or reference only and will not govern the interpretation of the provisions. Unless it would be inconsistent to do so, words and phrases used in this document should be construed so the singular includes the plural and the plural includes the singular.

BYLAWS - Our bylaws, which we may amend from time to time, establish basic rules about our credit union policies and operations which affect your account and membership. You may obtain a copy of the bylaws on request. Our right to require you to give us notice of your intention to withdraw funds from your account is described in the bylaws. Unless we have agreed otherwise, you are not entitled to receive any original item after it is paid, although you may request that we send you an item(s) or a copy of an item(s). Dividends are based on current earnings and available earnings of the credit union, after providing for required reserves.

LIABILITY - You agree, for yourself (and the person or entity you represent if you sign as a representative of another) to the terms of this account and the schedule of charges. You authorize us to deduct these charges directly from the account balance as accrued. You will pay any additional reasonable charges for services you request which are not covered by this agreement.

Each of you also agrees to be jointly and severally (individually) liable for any account shortage resulting from charges or overdrafts, whether caused by you or another with access to this account. This liability is due immediately, and can be deducted directly from the account balance whenever sufficient funds are available. You have no right to defer payment of this liability, and you are liable regardless of whether you signed the item or benefited from the charge or overdraft. This includes liability for our costs to collect the deficit including, to the extent permitted by law, our reasonable attorneys' fees.

DEPOSITS - We will give only provisional credit until collection is final for any items, other than cash, we accept for deposit (including items drawn "on us"). Actual credit for deposits of, or payable in, foreign currency will be at the exchange rate in effect on final collection in U.S. dollars. We are not responsible for transactions by mail or outside depository until we actually record them. We will treat and record all transactions received after our "daily cutoff time" on a business day we are open, or received on a day we are not open for business, as if initiated on the next following business day that we are open.

WITHDRAWALS - Unless clearly indicated otherwise on the account records, any of you, acting alone, who signs in the space designated for signatures on the signature card may withdraw or transfer all or any part of the account balance at any time. Each of you (until we receive written notice to the contrary) authorizes each other person signing the signature card to indorse any item payable to you or your order for deposit to this account or any other transaction with us. We may charge your account for a check even though payment was made before the date of the check, unless we have received written notice of the postdating in time to have a reasonable opportunity to act. We may refuse any withdrawal or transfer request which you attempt on forms not approved by us, by any method we do not specifically permit, which is greater in number than the frequency permitted, or which is for an amount greater or less than any withdrawal limitations. Even if we honor a nonconforming request, we may treat continued abuse of the stated limitations (if any) as your act of closing the account. We will use the date the transaction is completed by us (as opposed to the date you initiate it) to apply the frequency limitations. The fact that we may honor withdrawal requests that overdraw the available account balance does not obligate us to do so later. See the funds availability policy disclosure for information about when you can withdraw funds you deposit. For those accounts for which our funds availability policy disclosure does not apply, you can ask us when you make a deposit when those funds will be available for withdrawal.

OWNERSHIP OF ACCOUNT AND BENEFICIARY DESIGNATION - These rules apply to this account depending on the form of ownership and beneficiary designation, if any, specified on the account records. We reserve the right to refuse some forms of ownership on any or all of our accounts. We make no representations as to the appropriateness or effect of the ownership and beneficiary designations, except as they determine to whom we pay the account funds.

Individual Account - is an account in the name of one person.

Joint Account - We consider an account to be a joint account if more than one person opens an account and signs a signature card as an owner. If you are a joint owner you cannot remove another joint owner from the account.

Each joint owner may withdraw any or all funds on deposit, by any withdrawal process we utilize, provided their signature is on file with us as an owner. Each joint owner has the right to transact business as follows: 1. Make deposits to the account; 2. Close out the account; 3. Enter into agreements pertaining to the account; 4. Place stop-payment orders on any check drawn on the account. As a joint owner you guarantee the signature of all other joint owners and give them authority to endorse checks payable to them individually or jointly and deposit them. We reserve the right to reject cashing such items or only accept them for deposit.

If a joint owner dies, the balance of the account will be owned by the remaining joint account owners. Social Security benefits do not pass to joint account owner(s) and social security payments made in the month the recipient dies and subsequent months, may not be withdrawn by remaining account owners. All provisions contained herein, when exercised against joint accounts are irrespective of the source of contribution of funds deposited into the account.

Revocable Trust Account - One or two of you (called trustees) may create such an account in trust for another. Payments may be made to the trustee, or if there are two trustees, to either or both of the trustees or the survivor. Upon the death of the trustee or the death of both trustees, payment may be made to the person for whom the trust was made, or that person's legal representative.

BUSINESS ACCOUNTS - Earnings in the form of interest, dividends, or credits will be paid only on collected funds, unless otherwise provided by law or our policy. We may require the governing body of the legal entity opening the account to give us a separate authorization telling us who is authorized to act on its behalf. We will honor the authorization until we actually receive written notice of a change from the governing body of the legal entity.

STOP PAYMENTS - You must make any stop-payment order in the manner required by law and we must receive it in time to give us a reasonable opportunity to act on it before our stop-payment cutoff time. To be effective, your stop-payment order must precisely identify the number, date and amount of the item, and the payee.

You may stop payment on any item drawn on your account whether you sign the item or not, if you have an equal or greater right to withdraw from this account than the person who signed the item. A release of the stop-payment request may be made only by the person who initiated the stop-payment order.

Our stop-payment cutoff time is one hour after the opening of the next banking day after the banking day on which we receive the item. Additional limitations on our obligation to stop payment are provided by law (e.g., we paid the item in cash or we certified the item).

TELEPHONE TRANSFERS - A telephone transfer of funds from this account to another account with us, if otherwise arranged for or permitted, may be made by the same persons and under the same conditions generally applicable to withdrawals made in writing. Unless a different limitation is disclosed in writing, we restrict the number of transfers from a savings account to another account or to third parties, to a maximum of six per month (less the number of "preauthorized transfers" during the month). Other account transfer restrictions may be described elsewhere.

AMENDMENTS AND TERMINATION - We may change our bylaws and any term of this agreement. Rules governing changes in rates are provided separately. For other changes we will give you reasonable notice in writing or by any other method permitted by law. We may close this account if your membership in the credit union terminates, or by giving reasonable notice to you and tender of the account balance personally or by mail. At our option, we may suspend your rights to member services if you violate the terms of this agreement. You must keep us informed of your current address at all times. Notice from us to any one of you is notice to all of you.

STATEMENTS - You must examine your statement of account with "reasonable promptness." If you discover (or reasonably should have discovered) any unauthorized signatures or alterations, you must promptly notify us of the relevant facts. As between you and us, if you fail to do either of these duties, you will have to either share the loss with us, or bear the loss entirely yourself (depending on whether we used ordinary care and, if not, whether we substantially contributed to the loss). The loss could be not only with respect to items on the statement but other items with unauthorized signatures or alterations by the same wrongdoer.

You agree that the time you have to examine your statement and report to us will depend on the circumstances, but will not, in any circumstance, exceed a total of 30 days from when the statement is first sent or made available to you.

You further agree that if you fail to report any unauthorized signatures, alterations, forgeries, or any other errors in your account within 60 days of when we first send or make the statement available, you cannot assert a claim against us on any items in that statement, and as between you and us the loss will be entirely yours. This 60-day limitation is without regard to whether we used ordinary care. The limitation in this paragraph is in addition to that contained in the first paragraph of this section.

ACCOUNT TRANSFER - This account may not be transferred or assigned without our prior written consent.

DIRECT DEPOSITS - If, in connection with a direct deposit plan, we deposit any amount in an account which should have been returned to the Federal Government for any reason, you authorize us to deduct the amount of our liability to the Federal Government from the account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability.

TEMPORARY ACCOUNT AGREEMENT - If this option is selected, this is a temporary account agreement. Each person who signs in the space designated for signatures on the signature card (except as indicated to the contrary) may transact business on this account. However, we may at some time in the future restrict or prohibit further use of this account if you fail to comply with the requirements we have imposed within a reasonable time.

RIGHT TO REPAYMENT OF INDEBTEDNESS - You each agree that we may (without prior notice and when permitted by law) charge against and deduct from this account any due and payable debt owed to us now or in the future, by any of you having the right of withdrawal, to the extent of such persons' or legal entity's right to withdraw. If the debt arises from a note, "any due and payable debt" includes the total amount of which we are entitled to demand payment under the terms of the note at the time we charge the account, including any balance the due date for which we properly accelerate under the note.

In addition to these contract rights, we may also have rights under a "statutory lien." A "lien" on property is a creditor's right to obtain ownership of the property in the event a debtor defaults on a debt. A "statutory lien" is one created by federal or state statute. If federal or state law provides us with a statutory lien, then we are authorized to apply, without prior notice, your shares and dividends to any debt you owe us, in accord with the statutory lien.

Neither our contract rights nor rights under a statutory lien apply to this account if: (a) it is an Individual Retirement Account or other tax-deferred retirement account, or (b) the debt is created by a consumer credit transaction under a credit card plan (but this does not affect our rights under any consensual security interest), or (c) the debtor's right of withdrawal arises only in a representative capacity. We will not be liable for the dishonor of any check or draft when the dishonor occurs because we charge and deduct an amount you owe us from your account. You agree to hold us harmless from any claim arising as a result of our exercise of our right to repayment.

AUTHORIZED SIGNER (Individual Accounts only) - A single individual is the owner. The authorized signer is merely designated to conduct transactions on the owner's behalf. We undertake no obligation to monitor transactions to determine that they are on the owner's behalf.

RESTRICTIVE LEGENDS - We are not required to honor any restrictive legend on checks you write unless we have agreed in writing to the restriction. Examples of restrictive legends are "must be presented within 90 days" or "not valid for more than $1,000.00."

CREDIT VERIFICATION - You agree that we may verify credit and employment history by any necessary means, including preparation of a credit report by a credit reporting agency.

PLEDGES - Unless we agree otherwise in writing, each owner of this account may pledge all or any part of the funds in it for any purpose to which we agree. Any pledge of this account must first be satisfied before the rights of any surviving account owner or account beneficiary become effective.

ACH AND WIRE TRANSFERS - This agreement is subject to Article 4A of the Uniform Commercial Code - Fund Transfers as adopted in the state in which you have your account with us. If you originate a fund transfer for which Fedwire is used, and you identify by name and number a beneficiary financial institution, an intermediary financial institution or a beneficiary, we and every receiving or beneficiary financial institution may rely on the identifying number to make payment. We may rely on the number even if it identifies a financial institution, person or account other than the one named. You agree to be bound by automated clearing house association rules. These rules provide, among other things, that payments made to you, or originated by you, are provisional until final settlement is made through a Federal Reserve Bank or payment is otherwise made as provided in Article 4A-403(a) of the Uniform Commercial Code. If we do not receive such payment, we are entitled to a refund from you in the amount credited to your account and the party originating such payment will not be considered to have paid the amount so credited. If we receive a credit to an account you have with us by wire or ACH, we are not required to give you any notice of the payment order or credit.

FACSIMILE SIGNATURES - You authorize us, at any time, to charge you for all checks, drafts, or other orders, for the payment of money, that are drawn on us regardless of by whom or by what means the facsimile signature(s) may have been affixed so long as they resemble the facsimile signature specimen filed with us, and contain the required number of signatures for this purpose.

POWER OF ATTORNEY - You may wish to appoint an agent to conduct transactions on your behalf. (We, however, have no duty or agreement whatsoever to monitor or insure that the acts of the agent are for your benefit.) This may be done by allowing your agent to sign in that capacity on the signature card or by separate form, such as a power of attorney. A power of attorney continues until your death or the death of the person given the power. If the power of attorney is not "durable," it is revoked when you become incompetent. We may continue to honor the transactions of the agent until: (a) we have received written notice or have actual knowledge of the termination of the authority or the death of an owner, and (b) we have had a reasonable opportunity to act on that notice or knowledge. You agree not to hold us responsible for any loss or damage you may incur as a result of our following instructions given by an agent acting under a valid power of attorney.

STALE-DATED CHECKS - We are not obligated to, but may at our option, pay a check, other than a certified check, presented for payment more than six months after its date. If you do not want us to pay a stale-dated check, you must place a stop-payment order on the check in the manner we have described elsewhere.

INDORSEMENTS - We may accept for deposit any item payable to you or your order, even if they are not indorsed by you. We may give cash back to any one of you. We may supply any missing indorsement(s) for any item we accept for deposit or collection, and you warrant that all indorsements are genuine.

UNCLAIMED PROPERTY - The law establishes procedures under which unclaimed property must be surrendered to the state. (We may have our own rules regarding dormant accounts, and if we charge a fee for dormant accounts it will be disclosed to you elsewhere.) Generally, the funds in your account are considered unclaimed if you have not had any activity or communication with us regarding your account over a period of years. Ask us if you want further information about the period of time or type of activity that will prevent your account from being unclaimed. If your funds are surrendered to the state, you may be able to reclaim them, but your claim must be presented to the state. Once your funds are surrendered, we no longer have any liability or responsibility with respect to the funds.

DEATH OR INCOMPETENCE - You agree to notify us promptly if any person with a right to withdraw funds from your account(s) dies or becomes legally incompetent. We may continue to honor your checks, items, and instructions until: (a) we know of your death or incompetence, and (b) we have had a reasonable opportunity to act on that knowledge. You agree that we may pay or certify checks drawn on or before the date of death or legal incompetence for up to ten (10) days after your death or legal incompetence unless ordered to stop payment by someone claiming an interest in the account.

UTMA ACCOUNTS - Under the Uniform Transfers to Minors Act, the funds in the account are owned by the child who has unconditional use of the account when he or she reaches the age of majority. Before that time, the account may be accessed only by the custodian (or successor custodian), and the funds must be used for the benefit of the child. We, however, have no duty or agreement whatsoever to monitor or insure that the acts of the custodian (or successor custodian) are for the child's benefit. For this type of account, the child's SSN/TIN is used for the Backup Withholding Certification.

FIDUCIARY ACCOUNTS - Accounts may be opened by a person acting in a fiduciary capacity. This account may be opened and maintained by a person or persons named as a trustee under a written trust agreement, or as executors, administrators, or conservators under court orders. You understand that by merely opening such an account, we are not acting in the capacity of a trustee in connection with the trust nor do we undertake any obligation to monitor or enforce the terms of the trust or letters.

CASH TRANSACTION REPORTING - To help law enforcement agencies detect illegal activities, the law requires all financial institutions to gather and report information on some types of cash transactions. If the information we need to complete the report is not provided, we are required to refuse to handle the transaction. If you have any questions regarding these rules, please contact your local Internal Revenue Service office.

BACKUP WITHHOLDING/TIN CERTIFICATION - Federal tax law requires us to report interest payments we make to you of $10 or more in a year, and to include your taxpayer identification number (TIN) on the report (the taxpayer identification number is your social security number if you are an individual). Interest includes dividends, interest and bonus payments for purposes of this rule. Therefore, we require you to provide us with your TIN and to certify that it is correct. In some circumstances, federal law requires us to withhold and pay to the IRS a percentage of the interest that is earned on funds in your accounts. This is known as backup withholding. We will not have to withhold interest payments when you open your account if you certify your TIN and certify that you are not subject to backup withholding due to underreporting of interest. (There are special rules if you do not have a TIN but have applied for one, if you are a foreign person, or if you are exempt from the reporting requirements.) We may subsequently be required to begin backup withholding if the IRS informs us that you supplied an incorrect TIN or that you underreported your interest income.

LOST, DESTROYED, OR STOLEN CERTIFIED, CASHIER'S, OR TELLER'S CHECKS - Under some circumstances you may be able to assert a claim for the amount of a lost, destroyed, or stolen certified, cashier's or teller's check. To assert the claim: (a) you must be the remitter (or drawer of a certified check) or payee of the check, (b) we must receive notice from you describing the check with reasonable certainty and asking for payment of the amount of the check, (c) we must receive the notice in time for us to have a reasonable opportunity to act on it, and (d) you must give us a declaration (in a form we require) of your loss with respect to the check. You can ask us for a declaration form. Even if all of these conditions are met, your claim may not be immediately enforceable. We may pay the check until the ninetieth day after the date of the check (or date of acceptance of a certified check). Therefore, your claim is not enforceable until the ninetieth day after the date of the check or date of acceptance, and the conditions listed above have been met. If we have not already paid the check, on the day your claim is enforceable we become obligated to pay you the amount of the check. We will pay you in cash or issue another certified check.

At our option, we may pay you the amount of the check before your claim becomes enforceable. However, we will require you to agree to indemnify us for any losses we might suffer. This means that if the check is presented after we pay your claim, and we pay the check, you are responsible to cover our losses. We may require you to provide a surety bond to assure that you can pay us if we suffer a loss.

CHANGING ACCOUNT PRODUCTS - We may change your account to another product offered by us at any time by giving you notice that your account will be changed to another product on a specified date. If your account is a time account, the change will not occur before the next maturity date of your account. If you do not close your account before the date specified in the notice, we may change your account to that other product on the date specified in the notice.

LEGAL ACTIONS AFFECTING YOUR ACCOUNT - If we are served with a subpoena, restraining order, writ of attachment or execution, levy, garnishment, search warrant, or similar order relating to your account (termed "legal action" in this section), we will comply with that legal action. In these cases, we will not have any liability to you if there are insufficient funds to pay your items because we have withdrawn funds from your account or in any way restricted access to your funds in accordance with the legal action. Any fees or expenses we incur in responding to any legal action (including, without limitation, attorneys' fees and our internal expenses) may be charged against your account. The list of fees applicable to your account(s) provided elsewhere may specify additional fees that we may charge for certain legal actions.

CHECK PROCESSING - We may process items mechanically by relying on the information encoded along the bottom of the items. This means that we do not individually examine all of your items to determine if the item is properly completed, signed and indorsed. We may accept, pay, certify or charge items in any order. We may determine the amount of available funds in your account for the purpose of deciding whether to return an item for insufficient funds at any time between the time we receive the item and when we return the item or send a notice in lieu of return. We need only make one determination, but if we choose to make a subsequent determination, the account balance at the subsequent time will determine whether there are insufficient available funds.

ADDRESS OR NAME CHANGES - You are responsible for notifying us of any change in your address or your name. Unless we agree otherwise, change of address or name must be made in writing by at least one of the account holders. Informing us of your address or name change on a check reorder form is not sufficient. We will attempt to communicate with you only by use of the most recent address you have provided to us. If provided elsewhere, we may impose a service fee if we attempt to locate you.

RESOLVING ACCOUNT DISPUTES - We may place an administrative hold on the funds in your account (refuse payment or withdrawal of the funds) if it becomes subject to a claim adverse to (1) your own interest; (2) by others claiming an interest as survivors or beneficiaries of your account; or (3) a claim arising by operation of law. The hold may be placed for such period of time as we believe reasonably necessary to allow a legal proceeding to determine the merits of the claim or until we receive evidence satisfactory to us that the dispute has been resolved. We will not be liable for any items that are dishonored as a consequence of placing a hold on funds in your account for these reasons.

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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. You should keep this notice for future reference.

Electronic Fund Transfers Initiated By Third Parties. You may authorize a third party to initiate electronic fund transfers between your account and the third party's account. These transfers to make or receive payment may be one-time occurrences or may recur as directed by you. These transfers may use the Automated Clearing House (ACH) or other payments network. Your authorization to the third party to make these transfers can occur in a number of ways. For example, your authorization to convert a check or draft to an electronic fund transfer or to electronically pay a returned check or draft charge can occur when a merchant provides you with notice and you go forward with the transaction (typically, at the point of purchase, a merchant will post a sign and print the notice on a receipt). In all cases, these third party transfers will require you to provide the third party with your account number and credit union information. This information can be found on your check or draft as well as on a deposit or withdrawal slip. Thus, you should only provide your credit union and account information (whether over the phone, the Internet, or via some other method) to trusted third parties whom you have authorized to initiate these electronic fund transfers. Examples of these transfers include, but are not limited to:

Preauthorized credits. You may make arrangements for certain direct deposits to be accepted into your checking or savings account(s), or to pay your loan(s).
Preauthorized payments. You may make arrangements to pay certain recurring bills from your checking or savings account(s).
Electronic check or draft conversion. You may authorize a merchant or other payee to make a one-time electronic payment from your checking or share draft account using information from your check or draft to pay for purchases or pay bills.
Electronic returned check or draft charge. You may authorize a merchant or other payee to initiate an electronic funds transfer to collect a charge in the event a check or draft is returned for insufficient funds.

Tele-Touch Telephone Transfers - types of transfers - You may access your account by telephone 24 hours a day at (781) 878-0232 or 1-800-562-RFCU using your personal identification number, a touch tone phone, your account numbers, and your social security number, to:

transfer funds from checking to checking
transfer funds from checking to savings
transfer funds from savings to checking
transfer funds from savings to savings
transfer funds from line of credit to checking
transfer funds from line of credit to savings
make payments from checking to loan accounts with us
make payments from savings to loan accounts with us
get information about:
- the account balance of checking account(s)
- recent deposits to checking account(s)
- recent withdrawals from checking account(s)
- the account balance of savings account(s)
- recent deposits to savings account(s)
- recent withdrawals from savings account(s)

Your Option to Limit Cash Withdrawals - In addition to dollar amount limitations for withdrawals using your ATM card or MasterMoney™ Debit Card and/or code that we may establish, you have the option to limit the amount of cash that can be withdrawn by your ATM card or MasterMoney™ Debit Card and/or code to $50.00 per day or some other amount acceptable to us.

ATM Transfers - types of transfers and dollar limitations - You may access your account(s) by ATM using your ATM card and personal identification number or MasterMoney™ Debit Card and personal identification number, to:

make deposits to checking account(s) with an ATM card
make deposits to checking account(s) with a debit card
make deposits to savings account(s) with an ATM card
make deposits to savings account(s) with a debit card
get cash withdrawals from checking account(s) with an ATM card
- you may withdraw no more than $505.00 per business day in combination with point-of-sale transactions (dollar limits may be higher or lower at credit union's discretion)
get cash withdrawals from checking account(s) with a debit card
- you may withdraw no more than $505.00 per business day in combination with point-of-sale transactions (dollar limits may be higher or lower at credit union's discretion)
get cash withdrawals from savings account(s) with an ATM card
- you may withdraw no more than $505.00 per business day in combination with point-of-sale transactions (dollar limits may be higher or lower at credit union's discretion)
get cash withdrawals from savings account(s) with a debit card
- you may withdraw no more than $505.00 per business day in combination with point-of-sale transactions (dollar limits may be higher or lower at credit union's discretion)
  For example if you withdraw $100.00 in cash at an ATM you will still be able to withdraw $405.00 in cash at the ATM with a balance of $1,995.00 available for point-of-sale transactions for that business day.
transfer funds from savings to checking account(s) with an ATM card
transfer funds from savings to checking account(s) with a debit card
transfer funds from checking to savings account(s) with an ATM card
transfer funds from checking to savings account(s) with a debit card
transfer funds from line of credit to checking account(s) with an ATM card
transfer funds from line of credit to checking account(s) with a debit card
make payments from checking account(s) with an ATM card to Rockland Federal Credit Union
make payments from checking account(s) with a debit card to Rockland Federal Credit Union
get information about:
- the account balance of your checking accounts
- the account balance of your line of credit
  - with an ATM card
  - with a debit card
- the account balance of your savings accounts
  - with an ATM card
  - with a debit card

Some of these services may not be available at all terminals.

Types of ATM Card Point-of-Sale Transactions - You may access your checking account(s) to purchase goods (in person), pay for services (in person), and get cash from a merchant, if the merchant permits, or from a participating financial institution.

Types of MasterMoney™ Debit Card 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, if the merchant permits, or from a participating financial institution, and do anything that a participating merchant will accept.

Point-of-Sale Transactions - dollar limitations - Using your card:

you may not exceed $2,500.00 in transactions per business day in combination with ATM transactions (dollar limits may be higher or lower at credit union's discretion)

Currency Conversion. If you effect a transaction with your MasterMoney™ Debit Card in a currency other than US Dollars, MasterCard International Incorporated will convert the charge into a US dollar amount. MasterCard International will use its currency conversion procedure, which is disclosed to institutions that issue MasterCard cards. Currently, the conversion rate used by MasterCard International to determine the transaction amount in US dollars is generally either a government mandated rate or a wholesale rate determined by MasterCard International for the processing cycle in which the transaction is processed, increased by an adjustment factor established from time to time by MasterCard International. The current adjustment rate (conversion fee) is 1% as of December 1, 2005, and is subject to change. The 1% conversion fee is based on a Currency Conversion fee of .2% and a Cross-Border Transaction fee of .8%. The Cross-Border Transaction fee is charged on all cross-border transactions regardless of whether there is a currency conversion. A cross-border transaction is a transaction processed through the Global Clearing Management System or the MasterCard Debit Switch in which the country of the merchant is different than the country of the cardholder. Effective April 7, 2006 the 1% conversion fee will post as a separate transaction on your billing cycle. The currency conversion rate used by MasterCard International on the processing date may differ from the rate that would have been used on the purchase date or cardholder statement posting date.

Advisory Against Illegal Use. You agree not to use your card(s) for illegal gambling or other illegal purpose. Display of a payment card logo by, for example, an online merchant does not necessarily mean that transactions are lawful in all jurisdictions in which the cardholder may be located.

On-Line Banking Computer Transfers - types of transfers - You may access your account(s) by computer at RFCU.com 24 hours a day and using your personal identification number, to:

transfer funds from checking to checking
transfer funds from checking to savings
transfer funds from savings to checking
transfer funds from savings to savings
transfer funds from line of credit to checking
transfer funds from line of credit to savings
make payments from checking to loan accounts with us
make payments from checking to third parties
make payments from savings to loan accounts with us
get information about:
- the account balance of checking accounts
- deposits to checking accounts
- withdrawals from checking accounts
- the account balance of savings accounts
- deposits to savings accounts
- withdrawals from savings accounts

Termination -

You may terminate the electronic fund transfer agreement by written notice to us.
We may terminate the electronic fund transfer agreement by written notice to you.
Inactive accounts - If your share or share draft account is inactive for more than six months with a zero balance we may close your account without written notice to you. We may also terminate your ATM, Debit MasterMoney card without written notice to you if your card has been inactive for at least six months.
Delinquency - RFCU reserves the right to revoke an ATM or Debit MasterMoney card if there is an outstanding past due payment on an open loan. If such privileges are revoked, RFCU will send written notice to you.

Minimum account balance -

You must maintain a minimum account balance of $5.00 in your savings or checking account as a condition of using an access device (card and/or identification code) to accomplish a transfer.

FEES

We do not charge for direct deposits to any type of account.

Except as indicated elsewhere, we do not charge for these electronic fund transfers.

ATM Operator/Network Fees. When you use an ATM not owned by us, you may be charged a fee by the ATM operator or any network used (and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer).

DOCUMENTATION

Terminal transfers. You can get a 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.
Preauthorized credits. If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you can call us at 800-562-7328 or 781-878-0232 to find out whether or not the deposit has been made.
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.

PREAUTHORIZED PAYMENTS

Right to stop payment and procedure for doing so. If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here is how:
Call or write us at the telephone number or address listed in this brochure in time for us to receive your request 3 business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call.
Please refer to our separate fee schedule for the amount we will charge you for each stop-payment order you give.
Notice of varying amounts. If these regular payments may vary in amount, the person you are going to pay will tell you, 10 days before each payment, when it will be made and how much it will be. (You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.)
Liability for failure to stop payment of preauthorized transfer. If you order us to stop one of these payments 3 business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

ADDITIONAL INFORMATION REQUIRED
BY MASSACHUSETTS LAW

Any documentation provided to you which indicates that an electronic fund transfer was made to another person shall be admissible as evidence of the transfer and shall constitute prima facie-proof that the transfer was made.
The initiation by you of certain electronic fund transfers from your account, except as otherwise provided in the agreement, will effectively eliminate your ability to stop payment of the transfer.

Unless otherwise provided in

this agreement, you (the

consumer) may not stop

payment of electronic fund

transfers, therefore you

should not employ electronic

access for purchases or

services unless you are

satisfied that you will not

need to stop payment.

FINANCIAL INSTITUTION'S LIABILITY

If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

If, through no fault of ours, you do not have enough money in your account to make the transfer.
If you have an overdraft line and the transfer would go over the credit limit.
If the automated teller machine where you are making the transfer does not have enough cash.
If the terminal or system was not working properly and you knew about the breakdown when you started the transfer.
If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
If the funds are subject to legal process or other encumbrance restricting such transfer.
There may be other exceptions stated in our agreement with you.

CONFIDENTIALITY

In order that your privacy may be protected, we will not disclose any information about you or your account to any person, organization, or agency except:

for certain routine disclosures necessary for the completion of a transfer; or
for verification of the existence and condition of your account for a credit bureau or merchant; or
to persons authorized by law in the course of their official duties; or
to our employees, auditors, service providers, attorneys or collection agents in the course of their duties; or
pursuant to a court order or lawful subpoena; or
to a consumer reporting agency as defined in Chapter 93 of Massachusetts General Laws; or
by your written authorization which shall automatically expire 45 days after our receipt of your authorization.

If an unauthorized disclosure has been made, we must inform you of the particulars of the disclosure within 3 days after we have discovered that an unauthorized disclosure has occurred.

UNAUTHORIZED TRANSFERS

(a) Consumer liability.

• Generally. Tell us AT ONCE if you think your card and/or code has been lost, stolen, used without your permission, or if you believe that an electronic fund transfer has been made without your permission using information from your check or draft. Telephoning is the best way, if any, of minimizing your possible losses. You can lose no more than $50 if you fail to give us notice of your lost or stolen card and/or code and your card and/or code is used without your permission.

• Additional Limits on Liability for MasterMoney™ Debit Card, when used for point-of-sale transactions. You will not be liable for any unauthorized transactions using your MasterMoney™ Debit Card, when used for point-of-sale transactions, if: (i) you can demonstrate that you have exercised reasonable care in safeguarding your card from the risk of loss or theft, (ii) you have not reported to us two or more incidents of unauthorized use within the prior twelve-month period, and (iii) your account is in good standing. If any of these conditions are not met, your liability is the lesser of $50 or the amount of money, property, labor, or services obtained by the unauthorized use before notification to us. "Unauthorized use" means the use of your debit card by a person, other than you, who does not have actual, implied, or apparent authority for such use, and from which you receive no benefit. This additional limitation on liability does not apply to PIN-based transactions or transactions not processed by MasterCard.

(b) Contact in event of unauthorized transfer. If you think your card and/or code has been lost, stolen or that someone has transferred or may transfer money from your account without your permission, for example, by using the information from your check or draft, call or write us at the telephone number or address listed in this brochure.

PROTECTED CONSUMER USE

Chapter 167B of the Massachusetts General Laws was enacted to provide a means for financial institutions, businesses, and consumers to conduct their business relations more conveniently. Transferring funds electronically will supplement the use of checks, credit, and cash and will not replace these present methods of doing business. As a consumer, you should be aware of your rights if you choose to utilize this system.

Prohibition of compulsory use. No person may:
-require you to use a preauthorized electronic fund transfer as a condition of the extension of credit unless the credit is being extended in connection with an overdraft checking plan, or is being extended to maintain a specified balance in your account, or
-require you either to accept a transfer service or to establish an account which is accessed electronically as conditions of employment or receipt of governmental benefit, or
-require you to pay electronically for the purchase of goods or services.
If your account is to be credited by a preauthorized transfer you may choose the financial institution to which the transfer may be made, if the institution is technically capable of receiving such preauthorized transfer.
Waiver of rights. No writing or agreement signed by you can waive the rights conferred to you by Chapter 167B of the Massachusetts General Laws unless you decide to waive these rights in settlement of a dispute or action.
Refunds. If it is the policy of a store or retail business to give cash refunds in return for an item purchased by cash, then this policy must also cover refunds for items purchased by electronic fund transfer unless it is clearly disclosed at the time the transaction is consummated that no cash or credit refunds are given for payments made by electronic fund transfers.
Suspension of obligations. If a person agrees to accept payment by means of an electronic fund transfer and the system malfunctions preventing such a transfer, then the consumer's obligation is suspended until the transfer can be completed, unless that person, in writing, demands payment by other means.
Prohibited means of identification. Your Social Security number cannot be used as the primary identification number although it can be used as secondary aid to identify you.
Criminal liability. Procuring or using a card, code or other means of electronic access to an account with the intent to defraud is a basis for criminal liability.

ERROR RESOLUTION NOTICE

In Case of Errors or Questions About Your Electronic Transfers, Call or Write us at the telephone number or address listed in this brochure, as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.

Tell us your name and account number (if any).
Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.
Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.

We will determine whether an error occurred within 10 business days (20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a new account, a point-of-sale transaction, or a foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (20 business days if the transfer involved a new account) for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. Your account is considered a new account for the first 30 days after the first deposit is made, unless each account owner already has an established account with us before this account is opened.

We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation.

You may ask for copies of the documents that we used in our investigation.

ROCKLAND FEDERAL CREDIT UNION
ACCOUNT SERVICES
241 UNION STREET
ROCKLAND, MASSACHUSETTS 02370
Business Days: Monday through Friday
Business Hours: Monday through Wednesday: 9:00 A.M. to 4:00 P.M.
Thursday through Friday: 9:00 A.M. to 6:00 P.M.
Excluding Federal and State Holidays
Phone: (781) 878-0232 • 1-800-562-RFCU

MORE DETAILED INFORMATION IS AVAILABLE ON REQUEST

--------------------------

IDENTITY THEFT

Identity theft is the illegal use of another person's identification. Identity theft may take many forms. Identity thieves may use another person's personal information such as a social security number, mother's maiden name, date of birth, or account number to charge existing credit card accounts, open fraudulent new credit card or bank accounts, write checks or obtain new loans.

Protect your personal information - It is your responsibility to protect the account number(s) and access device(s) (e.g., an ATM card, point-of-sale card and/or PIN) for your account(s). Do not discuss, compare, or share information about your account number(s) or access device(s) with anyone unless you are willing to give them full use of your money. Checks and electronic withdrawals are processed by automated methods, and anyone who obtains your account number or access device could use it to withdraw money from your account, with or without your permission.

Carry only the minimum amount of identifying information and number of credit cards you need.
Pay attention to billing cycles and statements. Contact the credit union if you do not receive a monthly bill.
Check account statements carefully to ensure all charges, checks, or withdrawals were authorized.
Guard your mail from theft. If you have a free-standing mailbox with a flag to signal that there is mail in your box, do not leave bill payment envelopes in your mailbox with the flag up. Instead, mail them at a post office collection box or at the local post office. Promptly remove incoming mail.
Order copies of your credit report from each of the three major credit bureaus once a year to ensure that they are accurate.
Online defense. If you receive an email that warns you that your account will be shut down unless you reconfirm certain personal information, do not click on the email link. Clicking on the link may redirect you to a fraudulent website where your personal information may be stolen. Call the institution directly to inquire about any questionable emails.
Before submitting any financial information to a legitimate website, look for the "lock" icon on the browser status bar, or look for "https" in the web address. Both of these items indicate that the information is secure and encrypted during transmission.

Account numbers - Thieves can encode your account number on a check which looks and functions like an authorized check and can be used to withdraw money from your account. Your account number can also be used to issue a "preauthorized draft." A preauthorized draft is a draft or check that can be used to withdraw money from your account. Unlike a typical personal check, you do not issue or sign a preauthorized draft, someone else does on your behalf. For example, if you provide your account number in response to a telephone solicitation, the telephone solicitor can use the account number to issue and sign a check to withdraw money from your account. If you have truly authorized the preauthorized draft (to purchase a service or merchandise, for example), it is properly payable. But it can be risky to authorize a preauthorized draft. A swindler could issue a preauthorized draft in an amount greater than you authorized, or issue additional preauthorized drafts that you have not authorized. We will not know if the withdrawal is unauthorized or in an amount greater than the amount you have authorized. Payment can be made from your account even though you did not contact us directly and order the payment.

Access devices - If you furnish your access device and grant actual authority to make transfers to someone who then exceeds that authority, you will be liable for the transfers unless we have been notified that transfers by that person are no longer authorized. Please review the additional information you have received or will receive regarding transfers by access device.

Blank checks - You must also take precaution in safeguarding your blank checks. Notify us at once if you think your blank checks have been lost or stolen. As between you and us, if you are negligent in safeguarding your checks, you must bear the loss entirely yourself, or share the loss with us if we failed to use ordinary care which substantially contributes to the loss.

What to do if your identity has been stolen -

Contact the fraud department of at least one of the following three major credit reporting agencies and ask that a fraud alert be placed in your credit file and for a free credit report. (To be on the safe side you may wish to contact all three.)

Equifax - 1-800-525-6285

TransUnion - 1-800-680-7289

Experian - 1-888-397-3742
Close all accounts that are or may be affected by the identity theft.
If you have closed any checking accounts due to this identity theft, contact the following major check verification companies and ask that retailers using their databases not accept checks drawn on the closed accounts:

TeleCheck - 1-800-710-9898 or 927-0188

Certegy, Inc. - 1-800-437-5120

International Check Services - 1-800-631-9656
File a police report and obtain a copy for submission to credit reporting agencies, creditors and others.
If you suspect or know your mail has been stolen, contact the United States Postal Service.
Keep detailed records of any theft of your identity and of your efforts to resolve them.

--------------------------

YOUR ABILITY TO WITHDRAW

FUNDS

This policy statement applies to all accounts.

Our policy is to delay the availability of funds from your cash and check deposits. During the delay, you may not withdraw the funds in cash and we will not 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.

DETERMINING THE AVAILABILITY OF A DEPOSIT

The length of the delay is counted in business days from the day of your deposit. Every day is a business day except Saturdays, 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 we are not open, we will consider that the deposit was made on the next business day we are open.

The length of the delay varies depending on the type of deposit and is explained below. You should ask about the availability of funds if you need to be sure when a particular deposit will be available for withdrawal.

If you make a deposit at an ATM before 12:00 P.M. 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 at an ATM after 12:00 P.M. or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

Same-Day Availability

Funds from the following deposits are available on the day we receive the deposit:

Electronic direct deposits to your account.

U.S. Treasury checks that are payable to you.

Wire transfers.

Checks drawn on Rockland Federal Credit Union.

Cash.

State and local government checks that are payable to you.

Cashier's, certified, and teller's checks that are payable to you.

Federal Reserve Bank checks, Federal Home Loan Bank checks, and postal money orders, if these items are payable to you.

The first $2,000.00 from the deposit of payroll checks or workers compensation made payable to you.

Other Check Deposits

The delay for other check deposits depends on whether the check is a local or a nonlocal check. To see whether a check is a local or a nonlocal check, look at the routing number on the check:

Personal Business Check Layout

If the check is payable by an institution located in Massachusetts, or if the first four digits of the routing number (1234 in the examples above) are 0110, 0111, 0112, 0113, 0114, 0115, 0116, 0117, 0118, 0119, 0210, 0211, 2110, 2111, 2112, 2113, 2114, 2115, 2116, 2117, 2118, 2119, 2210, 2211, 0212, 2212, 0213, 2213, 0214, 2214, 0215, 2215, 0216, 2216, 0219, 2219, 0260, 2260, 0280, 2280, 0310, 2310, 0311, 2311, 0312, 2312, 0313, 2313, 0319, 2319, 0360, 2360, 0510, 2510, 0514, 2514, 0520, 2520, 0521, 2521, 0522, 2522, 0540, 2540, 0550, 2550, 0560, 2560, 0570, or 2570 then the check is a local check. Otherwise, the check is a nonlocal check. Some checks are marked "payable through" and have a four- or nine-digit number nearby. For these checks, use the four-digit number (or the first four digits of the nine-digit number), not the routing number on the bottom of the check, to determine if these checks are local or nonlocal. Our policy is to make funds from local and nonlocal checks available as follows.

1. Local checks. The first $100 from a deposit of local checks will be available on the first business day after the day of your deposit. The remaining funds will be available on the second business day after the day of your deposit.

For example, if you deposit a local check of $700 on a Monday, $100 of the deposit is available on Tuesday. The remaining $600 is available on Wednesday.

2. Nonlocal checks. The first $100 from a deposit of nonlocal checks will be available on the first business day after the day of your deposit. The remaining funds will be available on the fifth business day after the day of your deposit.

For example, if you deposit a $700 nonlocal check on a Monday, $100 of the deposit is available on Tuesday. The remaining $600 is available on Monday of the following week.

3. Local and nonlocal checks. If you deposit both categories of checks, $100 from the checks will be available on the first business day after the day of your deposit, not $100 from each category of check.

If we cash a check for you that is drawn on another bank or not made payable to you, 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 or not made payable to you, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit 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

LONGER DELAYS MAY APPLY

Funds you deposit by check may be delayed for a longer period under the following circumstances:

We believe a check you deposit will not be paid.

You deposit checks totaling more than $5,000 on any one day.

You redeposit a check that has been returned unpaid.

You have overdrawn your account repeatedly in the last six months.

There is an emergency, such as failure of computer or communications equipment.

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 ninth business day after the day of your deposit.

--------------------------

TRUTH-IN-SAVINGS

DISCLOSURE

FREE CHECKING (SHARE DRAFT) ACCOUNT

Minimum balance requirements:

No minimum balance requirements apply to this account.

Transaction limitations:

No transaction limitations apply to this account unless otherwise stated in the Common Features section.

DIVIDEND CHECKING (SHARE DRAFT) ACCOUNT

Rate Information:

The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors.

Compounding and crediting - Dividends will be compounded every month. Dividends will be credited to your account every month.

Dividend period - For this account type, the dividend period is monthly, for example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the last day of the dividend period, and for the example above is January 31.

Minimum balance requirements:

You must maintain a minimum average daily balance of $500.00 in your account to obtain the disclosed annual percentage yield.

Average daily 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. The period we use is the calendar month.

Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.

Transaction limitations:

No transaction limitations apply to this account unless otherwise stated in the Common Features section.

EXTRA CHECKING (SHARE DRAFT) ACCOUNT

Rate Information:

The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors.

Compounding and crediting - Dividends will be compounded every month. Dividends will be credited to your account every month.

Dividend period - For this account type, the dividend period is monthly, for example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the last day of the dividend period, and for the example above is January 31.

Minimum balance requirements:

You must maintain a minimum average daily balance of $5.00 and no more than $50,000.00 in your account to obtain the disclosed annual percentage yield. Balances in excess of $50,000.00 will earn the statement savings rate. To qualify for the disclosed annual percentage yield, this account must participate in Online Banking, eStatements, have a minimum monthly Direct Deposit of $100.00, and make 10 or more purchases and/or point of sale transactions that post to this account each month (excluding ATM transactions). Otherwise the account will earn the statement savings rate. Maximum balance is $100,000.00.

Average daily 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. The period we use is the calendar month.

Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.

Transaction limitations:

No transaction limitations apply to this account unless otherwise stated in the Common Features section.

IMAGE CHECKING ACCOUNT

Rate Information:

The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors.

Compounding and crediting - Dividends will be compounded every month. Dividends will be credited to your account every month.

Minimum balance requirements:

You must maintain a minimum average daily balance of $600.00 in your account to obtain the disclosed annual percentage yield.

Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.

Transaction limitations:

No transaction limitations apply to this account unless otherwise stated in the Common Features section.

STATEMENT SAVINGS ACCOUNT

Rate Information:

The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors.

Compounding and crediting - Dividends will be compounded every month. Dividends will be credited to your account every month.

Minimum balance requirements:

You must maintain a minimum average daily balance of $5.00 in your account to obtain the disclosed annual percentage yield.

Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.

Transaction limitations:

During any month, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized, automatic, or computer transfer or telephonic order or instruction. No more than three of the six transfers may be made by draft or similar order to a third party. If you exceed the transfer limitations set forth above, your account will be subject to closure by the credit union.

PASSBOOK SAVINGS ACCOUNT

Rate Information:

The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors.

Compounding and crediting - Dividends will be compounded every month. Dividends will be credited to your account every month.

Minimum balance requirements:

You must maintain a minimum average daily balance of $5.00 in your account to obtain the disclosed annual percentage yield.

Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.

Transaction limitations:

MONEY MARKET ACCOUNT

Rate Information:

The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors.

Compounding and crediting - Dividends will be compounded every month. Dividends will be credited to your account every month.

Minimum balance requirements:

You must maintain a minimum average daily balance of $5.00 in your account to obtain the disclosed annual percentage yield.

Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.

Transaction limitations:

SMART SAVER ACCOUNT

Rate Information:

The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors.

Compounding and crediting - Dividends will be compounded every month. Dividends will be credited to your account every month.

Minimum balance requirements:

You must maintain a minimum average daily balance of $100.00 in your account to obtain the disclosed annual percentage yield. Balances in excess of $5,000.00 will earn the statement savings rate.

To qualify for the disclosed annual percentage yield, at least $100.00 must be deposited to the account monthly, either at one time or over a series of deposits. Otherwise, the account will earn the statement savings rate.

Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.

Transaction limitations:

At least $100.00 must be deposited to the account monthly, either at one time or over a series of deposits.

ADVANTAGE SAVINGS ACCOUNT

Rate Information:

The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors.

Compounding and crediting - Dividends will be compounded every month. Dividends will be credited to your account every month.

Minimum balance requirements:

You must maintain a minimum average daily balance of $5.00 in your account to obtain the disclosed annual percentage yield.

Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.

Transaction limitations:

HIGH YIELD REWARD SAVINGS ACCOUNT

Rate Information:

The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors.

Compounding and crediting - Dividends will be compounded every month. Dividends will be credited to your account every month.

Minimum balance requirements:

You must maintain a minimum average daily balance of $5.00 in your account to obtain the disclosed annual percentage yield.

Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.

Transaction limitations:

No more than one withdrawal is allowed each month. Additional withdrawals are charged $25.00 per withdrawal. An Active Checking Account is one that meets any one of the following conditions 45 days prior to the dividend period:

(1) Recurring monthly direct deposits of $100 or more;
(2) Three or more Debit Card purchases;
(3) Three or more Bill Payments.

During any month, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized or automatic transfer, computer transfer, or telephonic order or instruction. No more than three of the six transfers may be made by check, draft, debit card (if applicable), or similar order to a third party. If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the credit union.

CLUB SAVINGS ACCOUNT

Rate Information:

The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors.

Compounding and crediting - Dividends will be compounded every month. Dividends will be credited to your account every month.

Minimum balance requirements:

You must maintain a minimum average daily balance of $5.00 in your account to obtain the disclosed annual percentage yield.

Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.

Transaction limitations:

CHRISTMAS CLUB ACCOUNT

Rate Information:

The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors.

Compounding and crediting - Dividends will be compounded every month. Dividends will be credited to your account every month.

Dividend period - For this account type, the dividend period is monthly, for example, the beginning date of the first dividend period of the calendar year is October 1, and the ending date of such dividend period is October 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the last day of the dividend period, and for the example above is October 31.

Minimum balance requirements:

You must maintain a minimum average daily balance of $5.00 in your account to obtain the disclosed annual percentage yield.

Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.

Transaction limitations:

The minimum deposit we allow is $5.00 per deposit.

You may not make any withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized, automatic or computer transfer, telephonic order or instruction, or similar order to a third party.

If any withdrawal is made from this account before the end of the club year, then this account may be closed.

Fees and charges:

A closing fee of $10.00 will be charged if any withdrawal is made from this account after 30 days from the date the account is opened and before the end of the club year.

IRA MONEY MARKET ACCOUNT

Rate Information:

The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors.

Compounding and crediting - Dividends will be compounded every month. Dividends will be credited to your account every month.

Minimum balance requirements:

You must maintain a minimum average daily balance of $5.00 in your account to obtain the disclosed annual percentage yield.

Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.

Transaction limitations:

IRA SAVINGS ACCOUNT

Rate Information:

The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors.

Compounding and crediting - Dividends will be compounded every month. Dividends will be credited to your account every month.

Minimum balance requirements:

You must maintain a minimum average daily balance of $5.00 in your account to obtain the disclosed annual percentage yield.

Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.

Transaction limitations:

COMMON FEATURES

Bylaw requirements:

If you do not complete payment of one share in any share account within six months of admission to membership, you may be terminated from membership. If the balance falls below $5.00 for a period of six months the account will be closed.

Transaction limitation - We reserve the right to at any time require not less than seven days notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D.

Closing an account - Either you or we may close an account for any reason. You may close an account at any time and we may close an account without prior notice at any time. We will not be liable for dishonoring any item or other debit drawn on an account and presented for payment after the account has been closed. If we close your account, we may mail you a notice and a check for the final balance.

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

National Credit Union Insurance Fund and MSIC - Member accounts in this credit Union are federally insured by the National Credit Union Share Insurance Fund and insured by MSIC.

The following fees may be assessed against your account and the following transaction limitations, if any, apply to your account.

Check printing - (fee depends on style and quantity of check ordered)

Overdraft service may apply to checks you have drawn against insufficient funds in your Checking or Savings accounts with us, as well as any other transfer or withdrawal request you have authorized (such as, but not limited to, ATM transactions, Point-of-Sale transactions, and preauthorized transfers) for which funds are insufficient. We may, at our sole discretion, but are not obligated to, make payment on such overdrawn checks, transfers, and/or withdrawal requests unpaid. Regardless, we are not liable for any action we take regarding payment or nonpayment of an overdrawn check, transfer, or withdrawal request.

Please refer to our separate fee schedule for additional information about charges.

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YOUR ACCOUNT

These are the accounts you have opened or inquired about. Further details about these accounts are inside this brochure. If the figures are not filled in, please see the insert that is with this disclosure or your periodic statement.

FREE CHECKING (SHARE DRAFT) ACCOUNT

DIVIDEND CHECKING (SHARE DRAFT) ACCOUNT

Last declared dividend rate:

Tier 1 - As of the last dividend declaration date, if your average daily balance was $50,000.00 or more, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

Tier 2 - As of the last dividend declaration date, if your average daily balance was more than $19,999.99, but less than $50,000.00, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

Tier 3 - As of the last dividend declaration date, if your average daily balance was more than $2,499.99, but less than $20,000.00, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

Tier 4 - As of the last dividend declaration date, if your average daily balance was more than $499.99, but less than $2,500.00, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

EXTRA CHECKING (SHARE DRAFT) ACCOUNT

Last declared dividend rate:

Tier 2 - As of the last dividend declaration date, if your average daily balance was more than $4.99, but less than $50,000.00, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

IMAGE CHECKING ACCOUNT

Last declared dividend rate:

Tier 1 - As of the last dividend declaration date, if your average daily balance was $2,500.00 or more, the dividend rate paid on the entire balance in your account was
_----------%, with an annual percentage yield of _----------%.

Tier 2 - As of the last dividend declaration date, if your average daily balance was more than $599.99, but less than $2,500.00, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

STATEMENT SAVINGS ACCOUNT

Last declared dividend rate:

As of the last dividend declaration date, the dividend rate was _----------% with an annual percentage yield of _----------% on your account.

PASSBOOK SAVINGS ACCOUNT

Last declared dividend rate:

As of the last dividend declaration date, the dividend rate was _----------% with an annual percentage yield of _----------% on your account.

MONEY MARKET ACCOUNT

Last declared dividend rate:

Tier 1 - As of the last dividend declaration date, if your average daily balance was $75,000.00 or more, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

Tier 2 - As of the last dividend declaration date, if your average daily balance was more than $49,999.99, but less than $75,000.00, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

Tier 3 - As of the last dividend declaration date, if your average daily balance was more than $24,999.99, but less than $50,000.00, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

Tier 4 - As of the last dividend declaration date, if your average daily balance was more than $9,999.99, but less than $25,000.00, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

Tier 5 - As of the last dividend declaration date, if your average daily balance was more than $2,499.99, but less than $10,000.00, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

Tier 6 - As of the last dividend declaration date, if your average daily balance was more than $4.99, but less than $2,500.00, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

SMART SAVER ACCOUNT

Last declared dividend rate:

Tier 1 - As of the last dividend declaration date, if your average daily balance was $5,000.00 or more, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

Tier 2 - As of the last dividend declaration date, if your average daily balance was more than $99.99, but less than $5,000.00, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

ADVANTAGE SAVINGS ACCOUNT

Last declared dividend rate:

Tier 2 - As of the last dividend declaration date, if your average daily balance was more than $24,999.99, but less than $50,000.00, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

Tier 3 - As of the last dividend declaration date, if your average daily balance was more than $9,999.99, but less than $25,000.00, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

Tier 4 - As of the last dividend declaration date, if your average daily balance was more than $999.99, but less than $10,000.00, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

Tier 5 - As of the last dividend declaration date, if your average daily balance was more than $4.99, but less than $1,000.00, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

HIGH YIELD REWARD SAVINGS ACCOUNT

Last declared dividend rate:

Tier 1 - As of the last dividend declaration date, if your average daily balance was $100,000.00 or more, and you maintain an active Rockland Federal Credit Union Checking (Share Draft Account) and accept eStatement delivery, the dividend rate paid on the balance in your account over $100,000.00 was _----------%, with an annual percentage yield of _----------%.

Tier 2 - As of the last dividend declaration date, if your average daily balance was $15,000.00 but less than $100,000.00, and you maintain an active Rockland Federal Credit Union Checking (Share Draft Account) and accept eStatement delivery, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

Tier 3 - As of the last dividend declaration date, if your average daily balance was more than $4.99, but less than $15,000.00 and you maintain an active Rockland Federal Credit Union Checking (Share Draft Account) and accept eStatement delivery, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

CLUB SAVINGS ACCOUNT

Last declared dividend rate:

As of the last dividend declaration date, the dividend rate was _----------% with an annual percentage yield of _----------% on your account.

CHRISTMAS CLUB ACCOUNT

Last declared dividend rate:

As of the last dividend declaration date, the dividend rate was _----------% with an annual percentage yield of _----------% on your account.

IRA MONEY MARKET ACCOUNT

Last declared dividend rate:

Tier 1 - As of the last dividend declaration date, if your average daily balance was $75,000.00 or more, the dividend rate paid on the entire balance in your account was
_----------%, with an annual percentage yield of _----------%.

Tier 2 - As of the last dividend declaration date, if your average daily balance was more than $49,999.99, but less than $75,000.00, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

Tier 3 - As of the last dividend declaration date, if your average daily balance was more than $24,999.99, but less than $50,000.00, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

Tier 4 - As of the last dividend declaration date, if your average daily balance was more than $9,999.99, but less than $25,000.00, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

Tier 5 - As of the last dividend declaration date, if your average daily balance was more than $2,499.99, but less than $10,000.00, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

Tier 6 - As of the last dividend declaration date, if your average daily balance was more than $4.99, but less than $2,500.00, the dividend rate paid on the entire balance in your account was _----------%, with an annual percentage yield of _----------%.

IRA SAVINGS ACCOUNT

Last declared dividend rate:

As of the last dividend declaration date, the dividend rate was _----------% with an annual percentage yield of _----------% on your account.