| TRUTH IN SAVINGS DISCLOSURE FOR TIME ACCOUNTS | |||||||||
| GALION BUILDING AND LOAN BANK | |||||||||
| 135 SOUTH MARKET STREET & 920 BUCYRUS ROAD GALION, OHIO | |||||||||
| ALL RATES AND CORRESPONDING APY'S ARE AVAILABLE AS OF 08/26/2008 AND SUBJECT TO CHANGE WITHOUT NOTICE. | |||||||||
| PLEASE STOP IN OR CALL 419-468-3113 or 419-462-4114 TO OBTAIN THE CURRENT INTEREST RATE AND APY'S ON ANY OF OUR CD's | |||||||||
| REGULAR CERTIFICATES OF DEPOSIT (PERSONAL) | |||||||||
| TERM | MINIMUM BALANCE | INTEREST RATES | APY | FIXED/ VARIABLE | ADDITIONAL DEPOSITS | INTEREST CREDITED | INTEREST (COMPOUNDED) | ||
| 91 DAY | $ 1,000.00 | 2.00% | 2.02% | FIXED | NONE | AT MATURITY | AT MATURITY | ||
| 6 MONTH | $ 1,000.00 | 2.25% | 2.26% | FIXED | " | " | " | ||
| 1 YEAR | $ 1,000.00 | 2.50% | 2.52% | FIXED | " | QUARTERLY | QUARTERLY | ||
| 1 YEAR | $ 500.00 | 2.50% | 2.52% | VARIABLE | $100 MIN | " | " | ||
| 15 MONTH | $ 1,000.00 | 3.50% | 3.55% | FIXED | NONE | " | " | ||
| 18 MONTH | $ 1,000.00 | 2.75% | 2.78% | FIXED | " | " | " | ||
| 2 YEAR | $ 1,000.00 | 3.00% | 3.03% | FIXED | " | " | " | ||
| 2 YEAR | $ 500.00 | 3.00% | 3.03% | VARIABLE | $100 MIN | " | " | ||
| 30 MONTH | $ 1,000.00 | 3.25% | 3.29% | FIXED | NONE | " | " | ||
| 3 YEAR | $ 1,000.00 | 3.50% | 3.55% | FIXED | " | " | " | ||
| 4 YEAR | $ 1,000.00 | 3.75% | 3.80% | FIXED | " | " | " | ||
| 4 YEAR | $ 500.00 | 3.45% | 3.49% | VARIABLE | $100 MIN | " | " | ||
| 5 YEAR | $ 1,000.00 | 3.85% | 3.91% | FIXED | NONE | " | " | ||
| 8 YEAR | $ 1,000.00 | 3.85% | 3.91% | FIXED | " | " | " | ||
| APY = THE ANNUAL PERCENTAGE YIELD ASSUMES INTEREST WILL REMAIN ON DEPOSIT UNTIL MATURITY. A WITHDRAWAL OF INTEREST WILL REDUCE EARNINGS. | |||||||||
| *VARIABLE RATE: INTEREST RATES AND CORRESPONDING ANNUAL PERCENTAGE YIELDS ARE OFFERED ON THE 12 MO. AND 18 MO. VARIABLE RATE CERTIFICATES OPEN THROUGH THE END OF THE CURRENT MONTH AND ON THE 24 MO. AND 48 MO. VARIABLE THROUGH THE END OF THE CURRENT QUARTER. YOUR INTEREST RATE AND ANNUAL PERCENTAGE YIELD MAY CHANGE. AFTER DATE OF ISSUANCE THE INTEREST RATE ON THE 12 MO. AND 18 MO. VARIABLE WILL ADJUST ON THE FIRST OF EACH MONTH WHILE THE INTEREST RATE ON THE 24 MO. AND 48 MO. VARIABLE WILL ADJUST ON THE FIRST DAY OF EACH QUARTER. THE RATE CHANGES WILL BE AT THE DISCRETION OF THE BOARD OF DIRECTORS. | |||||||||
| COMMON FEATURES: | |||||||||
| DAILY BALANCE COMPUTATION METHOD: We use the daily balance computation method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. | |||||||||
| AUTOMATICALLY RENEWABLE: Our certificates are automatically renewed for another term at the close of business on the initial maturity date or on the maturity date of any renewal term unless (1) it is withdrawn within the 7-day grace period that is mentioned below, or (2) (A) at least 15 days (if the term of this account is more than six months) or (B) at least 10 days (if the term of this account is six months or less), before maturity date the association gives written notice to you that this account will not be renewed under the same terms as you originally received during your initial term or any renewal term. The interest rate will be the same as we offer on new time deposits on the maturity date which has the same term. You will have seven days after maturity to withdraw the funds without a penalty. | |||||||||
| EARLY WITHDRAWAL PENALTIES: Except as otherwise provided herein, in the event of any withdrawal of principal from this account prior to a maturity date, you will forfiet an amount equal to: 91 days of interest on certificates with a term of 12 months or less, and 6 months interest on certificates with a term of over 12 months, whether earned or not, on the amount withdrawn at the nominal (simple) interest rate being paid on the account, regardless of the length of time the funds withdrawn have remained in your account. | |||||||||
| The penalty prescribed herein will not be imposed for withdrawal of principal following the death or adjudication of incompetence of any account holder or if you are taking a regular taxable distribution from your IRA account after age 59 1/2. | |||||||||
| Any withdrawal which reduces the account balance below the minimum balance requirement shall be considered as a withdrawal of the entire account balance and shall be subject to the penalty prescribed herein. | |||||||||
| If the account or any portion thereof is withdrawn not more than 7 days after a maturity date, earnings shall be paid thereon at the current rate being paid on the account to the date of withdrawal without penalty. | |||||||||
| Earnings credited to this account may be withdrawn without penalty at any time during the term in which earned. | |||||||||
| To the extent necessary to comply with these requirements, deductions shall be made to accrued interest, the amount withdrawn or the remaining account balance. | |||||||||
| ACCRUAL OF INTEREST ON NONCASH DEPOSITS: Interest begins to accrue on the business day you deposit noncash items (example, checks.) | |||||||||
| EFFECT OF CLOSING AN ACCOUNT: If you close your account before interest is credited, you will receive the accrued interest subject to any applicable early withdrawal penalties. | |||||||||
| TRANSACTION LIMITATIONS: You may not make any deposits into your account before maturity except as otherwise noted in the "ADDITIONAL DEPOSITS" section above. | |||||||||
| You may make withdrawals of principal from your account before maturity subject to any applicable early withdrawal penalty. | |||||||||