Truth in Savings

Money Market Accounts

Transaction limitations:

Three checks per month maximum. If more than three checks are written, a fee will be charged per additional check. (See Fee Schedule brochure for amount of fee). And up to three withdrawals or transfers per month (In addition to three checks written). Withdrawals or Transfers exceeding limit will result in a fee per withdrawal or transfer. (See Fee Schedule). Automated teller machine (ATM) privileges are not available for this type of account.

Club Accounts (Vacation and Christmas)

Transaction limitations:

One free withdrawal or transfer per year, thereafter a fee will be imposed (see Fee Schedule). Christmas Club accounts are automatically transferred to your Primary Share Savings account on November 1 in addition to the one free withdrawal per year.

Individual Retirement Accounts (IRA)

Transaction limitations applicable to all IRA accounts:

Contributions and withdrawals to IRA accounts are subject to Internal Revenue Service rules and limitations. Individuals under the age of 59½ may be subject to an IRS penalty when withdrawing amounts from an IRA account. In certain circumstances, such as the death or incompetence of an account owner, the law permits or sometimes requires the waiver of an early withdrawal penalty. See your Plan Disclosure for more information.

IRA Term Share Certificate (Including Mini-Jumbo, Jumbo, and Gold Club Members IRA Term Share Certificates)

Transaction limitations:

The minimum amount you can deposit is $250.00. There are no limitations on the frequency or timing of additions, except that no additions can be made in the last seven days before maturity.

You may make withdrawals of principal from your account before maturity only if we agree at the time you request the withdrawal. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty. You can only withdraw dividends credited in the term before maturity of that term without penalty. You can withdraw dividends anytime during the term of crediting after they are credited to your account.

Time requirements:

Your account will mature on .

Early withdrawal penalties: A penalty may be imposed for withdrawals before maturity. The penalty we may impose will equal one half of the original term’s dividends on the amount withdrawn subject to penalty, whether or not earned. To the extent dividends are not available to satisfy any penalty assessed, the penalty will be assessed against principal.

Term Share Certificates

Regular, Mini-Jumbo, Jumbo, and Gold Club Members Term Share Certificates

Transaction limitations:

After the account is opened, you may not make additions into the account until the maturity date stated on the account. You may make withdrawals of principal from your account before maturity only if we agree at the time you request the withdrawal. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty. You can only withdraw dividends credited in the term before maturity of that term without penalty. You can withdraw dividends anytime during the term of crediting after they are credited to your account.

Time requirements:

Your account will mature on .

In certain circumstances such as the death or incompetence of an owner, the law permits or in some cases requires the waiver of the early withdrawal penalty.

Dallas Telco reserves the right to amend the terms and conditions of any Share Certificate Account at anytime. Reasonable notice will be given to members before any change becomes effective, and changes will be effective at maturity.

For All Dividend-Bearing Accounts Except For Term Share Certificates and IRA Term Share Certificates

Rate information:

The dividend rate and annual percentage yield may change every dividend period. We may change the dividend rate for your account as determined by the credit union board of directors.

Compounding and crediting:

Dividends will be compounded monthly and will be credited monthly.

Dividend period:

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.

Effect of closing an account:

If you close your share account before dividends are paid, you will not receive the accrued dividends.

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.

Nature of dividends:

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

For All Term Share Certificates and IRA Term Share Certificates

Compounding and crediting:

Dividends will be compounded monthly and will be credited monthly.

Dividend period:

The dividend period for the Term Share Certificates and IRA Term Share Certificates is the calendar month. For example, the beginning date of the first dividend period of the 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 follows the ending date of a dividend periods, and for the example above is January 31.

Effect of closing an account:

If you close your account before dividends are paid, you will receive the accrued dividends prior to the withdrawal penalty being calculated.

Accrual of dividends on noncash deposits:

Dividends will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account. However, additions to your account are subject to the transaction limitations set forth in these disclosures.

Withdrawal of dividends prior to maturity:

The annual percentage yield is based on an assumption that dividends will remain in the account until maturity. A withdrawal will reduce earnings.

Automatic renewal:

Your account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any) or we receive written or telephone notice from you within the grace period mentioned below, if any. We can prevent renewal if we mail notice to you at least 30 calendar days before maturity. If either you or we prevent renewal, your funds will be placed in your Primary Share Savings account. Each renewal term will be the same as the original term, beginning on the maturity date. However, renewed Step Rate Certificates and renewed Step Rate IRA Certificates will not have the step rate option. The dividend rate will be the same we offer on new term share accounts on the maturity date, which have the same term, minimum balance (if any) and other features as the original term share certificate account. You will have a grace period of ten calendar days after maturity to withdraw the funds without being charged an early withdrawal penalty.

Other terms and conditions:

Term share certificates may not be pledged, assigned, or negotiated to any person other than the credit union. Any owner may redeem or pledge a non-IRA Certificate as collateral for a credit union loan or loans without the consent of the other owners.

Common Features

Bylaw requirements:

You must complete payment of one share in your Primary Share Savings account as a condition of admission to membership. The par value of one share in the Dallas Telco Federal Credit Union is $25.00. The $25.00 membership share is not available for withdrawal until the account is closed and membership is terminated. For all accounts except share draft accounts, the credit union reserves the right to require a member intending to make a withdrawal to give written notice of such intent up to 60 days before such withdrawal.

Balance computation method:

For all dividend-bearing accounts, 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.

Transactions for which an overdraft fee may be imposed:

An overdraft fee may be imposed for overdrafts created by Checks, In-person Withdrawals, ATM Withdrawals, or by other electronic means, as applicable.

Fees:

For a complete disclosure of account fees, please refer to our Truth in Savings Fee Schedule which accompanies these account disclosures.

National Credit Union Share Insurance Fund:

Member accounts in the Dallas Telco Federal Credit Union are federally insured by the National Credit Union Share Insurance Fund and backed by the full faith and credit of the United States Government.

By opening an account, you agree to conform to the credit union’s rules, regulations, bylaws and policies now in effect and as amended and adopted hereafter.

Truth-In-Savings Rate Schedule
Account Type	Dividend Rate	APY*	Minimum Balance Requirements
□ Primary Share Savings			$25 to open; $500 average daily balance to earn dividends.**
□ Tier 1: $500.00 to $4,999.99	_____%	_____%
□ Tier 2: $5,000.00 to $9,999.99	_____%	_____%
□ Tier 3: $10,000.00 to $24,999.99	_____%	_____%
□ Tier 4: $25,000.00 to $49,999.99	_____%	_____%
□ Tier 5: $50,000.00 and up	_____%	_____%
□ Kid's Club Savings	_____%	_____%	$25 to open; $25 average daily balance to earn dividends.**
□ Smart Start Club Savings	_____%	_____%	$25 to open; $25 average daily balance to earn dividends.**
□ Prestige Checking			$2,500 to open; $2,500 average daily balance to earn dividends
□ Tier 1: $2,500.00 to $9,999.99	_____%	_____%	and avoid a service fee.**
□ Tier 2: $10,000.00 to $24,999.99	_____%	_____%
□ Tier 3: $25,000.00 to $49,999.99	_____%	_____%
□ Traditional or Student Checking			$25 to open; $500 average daily balance to earn dividends.**
□ Tier 1: $500.00 to $2,499.99	_____%	_____%	$500 minimum daily balance to avoid a service fee,** members aged
□ Tier 2: $2,500.00 to $4,999.99	_____%	_____%	50 and over or Student Checking accounts will not incur a service fee.
□ Tier 3: $5,000.00 and up	_____%	_____%
□ Flexible, Free or Reward Checking	N/A	N/A	$25 to open; no dividends earned on this account type;
			Monthly service fee applies.
□ Health Savings Account	_____%	_____%	$25 to open; $100 average daily balance to earn dividends.**
(HSA Checking)
□ Money Market Account			$1,000 to open; $1,000 average daily balance to earn
□ Tier 1: $1,000.00 to $9,999.99	_____%	_____%	dividends;** $1,000 minimum daily balance to avoid
□ Tier 2: $10,000.00 to $24,999.99	_____%	_____%	monthly service fee.**
□ Tier 3: $25,000.00 to $49,999.99	_____%	_____%
□ Tier 4: $50,000.00 to $299,999.99	_____%	_____%
□ Tier 5: $300,000.00 to $499,999.99	_____%	_____%
□ Tier 6: $500,000.00 to $999,999.99	_____%	_____%
□ Tier 7: $1,000,000.00 and up	_____%	_____%
□ Club Accounts			$5 to open; $100 average daily balance to earn dividends.**
□ Christmas Club	_____%	_____%
□ Vacation Club	_____%	_____%
□ IRA Share Savings			$25 to open; $25 average daily balance to earn dividends.**
□ Tier 1: $25.00 to $4,999.99	_____%	_____%
□ Tier 2: $5,000.00 to $9,999.99	_____%	_____%
□ Tier 3: $10,000.00 to $24,999.99	_____%	_____%
□ Tier 4: $25,000.00 to $49,999.99	_____%	_____%
□ Tier 5: $50,000.00 and up	_____%	_____%
□ IRA Term Share Certificate	_____%	_____%	□ $250 to open; $500 average daily balance to earn dividends.**
□ 6 Month	_____%	_____%	□ Mini Jumbo: $50,000 minimum to open.
□ 1 Year	_____%	_____%	□ Jumbo: $99,000 minimum to open.
□ 18 Month	_____%	_____%	□ Gold Club Members***: $50,000 minimum to open; $50,000.00
□ 2 Year	_____%	_____%	average daily balance to earn dividends.**
□ 3 Year	_____%	_____%
□ 4 Year	_____%	_____%
□ 5 Year	_____%	_____%	*(Check the requirement that applies)*
□ Term Share Certificate			□ $1,000 to open: $1,000 average daily balance to earn dividends.**
□ 6 Month	_____%	_____%	□ Mini Jumbo: $50,000 minimum to open.
□ 1 Year	_____%	_____%	□ Jumbo: $99,000 minimum to open.
□ 18 Month	_____%	_____%	□ Gold Club Members***: $50,000 minimum to open; $50,000.00
□ 2 Year	_____%	_____%	average daily balance to earn dividends.**
□ 3 Year	_____%	_____%
□ 4 Year	_____%	_____%
□ 5 Year	_____%	_____%	*(Check the requirement that applies)*
*APY denotes Annual Percentage Yield. For all accounts except Term Share Certificate and IRA Term Share
Certificate accounts, the dividend rate and annual percentage yield are accurate as of the last dividend declaration
date. For all Term Share Certificate accounts, rates and yields are accurate as of _________________. All rates are
subject to change. For current rates, call 214-742-6551 or visit www.dallastelco.com.
**You must maintain the required minimum average daily balance in your account to obtain the disclosed annual
percentage yield. If an account denotes a minimum balance to avoid a service fee, you must maintain the
disclosed minimum balance in your account to avoid a service fee. If, during any month, your account balance
falls below the required daily balance, your account will be subject to a service fee as set forth in the Truth in
Savings Fee Schedule.
***Gold Club Membership is available to members aged 50 and over who have a Traditional checking account with us.
Gold Club members receive a .1% rate increase over our regular rates on Term Share Certificates and IRA Term
Share Certificates with a balance of $50,000 or more. Gold Club rates do not apply to Mini-Jumbo and Jumbo certificates.

Primary Share Savings Accounts­­­­­­­­­­­­­­­­­­­­

Common Features

Primary Share Savings Accounts