SHARE ACCOUNTS

The two primary requirements of membership in Heart of Louisiana Credit Union are: (1) qualify under our common bond as an occupation group employee, an association group member, or a community group resident within our field of membership, or as a relative of a current credit union member; and (2) deposit at least $25.00 in a Regular Share account. After satisfying these admission requirements, members must maintain the minimum balance, or par value, of $25.00 in the Regular Share account in order to retain membership rights and to access other products, services, and benefits.

Some of the most valued of these products and services are the many share-type accounts available offering the benefit of insurance up to $100,000 per depositor. This coverage is guaranteed by the United States government through the National Credit Union Share Insurance Fund.

All dividend earning share-type and certificate-type accounts (all accounts listed below except Share Draft/Checking) utilize the daily balance dividend computation method, which applies a daily periodic rate to the ending balance in the account each day. This formula is approved by the Truth-In-Savings Act which became effective January 1, 1995 for federally insured credit unions. The regulation is only one of many with which financial institutions must comply. Detailed and important information on others, such as Regulation CC (funds availability, check holds), Regulation D (limitations to certain transactions), and Regulation E (electronic funds transfers), in addition to Truth-In-Savings, is available in our comprehensive account disclosures. Please review and familiarize yourself with them as they are the best, most accurate source for comparing account characteristics.

Regular Share Accounts - Dividends are compounded and posted monthly. Minimum balance requirement is $25.00.

Sub Share Accounts - Dividends are compounded and posted monthly. No minimum balance requirement.

Christmas Club Share Accounts - Dividends are compounded and posted monthly, with one additional post in mid-October after which entire account balance will be disbursed. No minimum balance requirement.

Share Draft (Checking) Accounts - Dividends are not paid on this account, however, there are no minimum balance requirements, no monthly service charges, and no per-item or per-transaction fees. Automatic overdraft protection option available from Regular Share Account and/or Overdraft Line of Credit Loan (if qualified).

Money Market Share Accounts - Dividends are compounded daily and posted monthly. Minimum balance requirement is $2,500.00.

Payable On Death Share Accounts - Dividends are compounded daily and posted monthly. Minimum balance requirement is $2,500.00.

Share Certificate Accounts - Term options are available. Dividends are paid monthly and can be compounded to the account, posted to another account, or disbursed by check. Minimum balance requirement is $1,000.00.

IRA Share Certificate Accounts (Traditional & Roth) - Term options are available. Dividends are paid monthly and can be compounded to the account, posted to another account, or disbursed by check (disbursement of dividends would be considered an IRA distribution.) Minimum balance requirement is $1,000.00.

IRA Shares (Traditional & Roth) - Dividends are compounded and posted monthly. No minimum balance requirement.

Certain transaction restrictions, fees and/or service charges may apply to accounts described above. Please refer to the previously mentioned account disclosures, Schedule of Service Charges, and Dividend Rates/Yields for further details.