PO Box 590

18 Government Center Lane

Verona, VA 24482

SHARE CERTIFICATE DISCLOSURE

Share Certificates:

  • Term - 1 year

  • Rate Type - Fixed

  • Minimum Opening Deposit - $500.00

  • Dividends Compounded - Daily

  • Dividends Credited - Quarterly

  • Additional Deposits/Withdrawals – Not Allowed

  • Renewable – Automatic unless notified by the member

Except as specifically described, the following disclosures apply to all Share Certificate/Share accounts.

1. Rate Information. The annual percentage yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of

compounding for an annual period. For Share Certificates, the dividend rate and annual percentage yield are fixed and will be in effect for the initial term of the account. For accounts subject to dividend compounding, the annual percentage yield is based on an assumption that dividends will remain on deposit until maturity. A withdrawal of dividends will reduce earnings.

2. Dividend Period. For each account, the dividend period is the account’s term. The dividend period begins on the first day of the term and ends on the maturity date.

3. Dividend Compounding and Crediting. The compounding and crediting frequency of dividends are stated in the Rate Schedule. For Share Certificates, at your option, you may choose to have dividends credited to your share certificate, paid to you by check, or transferred to another account of yours. If you elect to have dividends paid to you by check or transferred to another account, compounding will not apply.

4. Balance Information. To open any account, you must deposit or already have on deposit the minimum required share(s) in any account. Some accounts may have additional minimum opening deposit requirements. The minimum balance requirements applicable to each account are set forth in the Rate Schedule. For accounts using the daily balance method as stated in the Rate Schedule, dividends are calculated by applying a daily periodic rate to the principal in the account each day.

5. Accrual of Dividends. For Share Certificates, dividends will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account. For Share

Certificates, if you close your account before accrued dividends are credited, accrued dividends will not be paid.

6. Transaction Limitations. For all accounts, your ability to make deposits to your account and any limitations on such transactions are stated in the Rate Schedule. After your account is opened, you may make withdrawals subject to the early withdrawal penalties stated below, and your account will be closed. Partial withdrawals are not allowed.

7. Maturity. Your account will mature as stated on your Truth-in-Savings Disclosure or on your Account Receipt or Renewal Notice.

8. Early Withdrawal Penalty. We may impose a penalty if you withdraw funds from your account before the maturity date.

a. Amount of Penalty. For Share Certificates, the amount of early withdrawal penalty for your account is the loss of any paid and accrued unpaid dividend up to 90 days’ dividends. The penalty will never be deducted from the principal balance of the certificate.

b. Exceptions for Early Withdrawal Penalties. At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances:

(i) When an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction.

9. Renewal Policy. The renewal policy for your accounts is stated in the Rate Schedule. For accounts that do not automatically renew for another term, the account balance will be transferred to another account of yours upon maturity. Dividends will be paid until the account is closed or transferred to another account of yours.

10. Nontransferable/Nonnegotiable. Your account is nontransferable and nonnegotiable.

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

Par Value of One Share............ $5.00

Number of Shares Required........... 1