Deposit Account Disclosure – For IRA Fixed and Variable
Certificate of Deposit Accounts

Interest Rates and Annual Percentage Yields are accurate as of July 22, 2008, and are subject to change without notice. Fees may reduce earnings. Substantial penalty for early withdrawal may apply.


Account Type Interest
Rate


(1), (4)		 Annual
Percentage
Yield
(APY)
(1), (4)		 Minimum
Balance to Open		 Minimum
Balance Required To Earn APY

(3)
3 Month IRA Certificate 1.09 1.10 $500.00 $500.00
6 Month IRA Certificate 1.24 1.25 $500.00 $500.00
1 Year IRA Certificate 1.49 1.50 $5.00 $5.00
1.5 Year IRA Certificate 1.49 1.50 $500.00 $500.00
2 Year IRA Certificate 2.23 2.25 $500.00 $500.00
2.5 Year IRA Certificate 2.23 2.25 $500.00 $500.00
3 Year IRA Certificate 2.72 2.75 $500.00 $500.00
3.5 Year IRA Certificate 2.72 2.75 $500.00 $500.00
5 Year IRA Certificate 2.96 3.00 $500.00 $500.00
Variable Rate 18 Month IRA Certificate 1.49 1.50 $100.00 $100.00


The Following Information Applies to the IRA Certificate of Deposit accounts listed above:
   
1. Interest Rate on Certificates:
 
(a)
Interest Rate on 3 Month – 5 Year IRA CD’s:  The interest rate in effect on the day your CD is opened will remain in effect until the maturity date of the CD, unless a withdrawal is made that brings your balance below the minimum balance shown above for each product type listed.
(b)
Interest Rate on Variable 18 Month IRA CD:  Your interest rate and annual percentage yield may change.  At our discretion, we may change the interest rate on your account daily.  For our current rate information, call (860) 676 – 4600 or (877) 376 – 2265, Toll Free on any business day.
   
2. Effect of Interest Withdrawal:
 
The annual percentage yield assumes interest remains on deposit until maturity.  A withdrawal will reduce earnings.
   
3. Minimum Balance Requirements:
 
(a)
91 Day and 6 Month IRA CD’s:  You must deposit $ 500.00 to open this account. You must maintain the minimum balance shown above in your account each day to earn the annual percentage yield disclosed.
(b)
1 Year IRA CD: You must deposit $ 5.00 to open this account. You must maintain the minimum balance shown above in your account each day to earn the annual percentage yield disclosed.
(c)
1½ – 5 Year Fixed IRA CD:  You must deposit $ 500.00 to open this account. You must maintain the minimum balance shown above in your account each day to earn the annual percentage yield disclosed.
(d)
Variable Rate 18 Month IRA CD:  You must deposit $ 100.00 to open this account. You must maintain the minimum balance shown above in your account each day to earn the annual percentage yield disclosed.
   
4. Interest Crediting and Compounding:
 
Interest for your account will be compounded monthly and credited to your account on the last business day of the month.
   
5. Accrual of Interest on Non-cash Items:
 
Interest begins to accrue on the business day you deposit non-cash items, (for example, checks).
   
6. Balance Computation Method:
 
We use the daily balance method to calculate interest on your account.  This applies a daily periodic rate to the principal in your account each day.
   
7. Transaction Limitations and Early Withdrawal Penalties:
 

You may not make withdrawals of principal from your account before the maturity date without our consent. Except in the case of death or a court’s declaration of your incompetence, if you withdraw any principal before the maturity date, a penalty will be charged to your account equal to 1 month’s interest for 91 Day CD’s, 3 month’s interest for certificate(s) with a term of 1 year or less but greater than 91 Days, and 6 month’s interest for certificate(s) with a term of more than 1 year.

You may make additional deposits to a Variable Rate 18 Month IRA CD, and additional prior year and current year Contributions only to the 1 Year fixed rate IRA CD.  However, in addition to the penalties shown above, we may impose a penalty of 1 month’s interest on any funds withdrawn within the first six days of deposit.
   
8. Renewal Policy:
  Your account will be automatically renewed at maturity.  You have a grace period of 7 calendar days after the maturity date to withdrawal the funds without being charged a penalty or to make deposits to the account.  Upon maturity, any interest paid during the term of the CD will be included as principal of the renewed CD if not withdrawn during the grace period.