This disclosure contains the rules which govern our deposit account. Unless it would be inconsistent to do so, words and phrases used in this disclosure should be construed so that the singular includes the plural and the plural includes the singular.

• On Fixed Rate products, we will pay the current rate and APY for the selected product until maturity.
• On the “Step Up” Certificate of Deposit (CD) products, the account holder has the option of having their rate of interest adjusted to the new rate one time during the term of the CD. The request to step up the rate must be made in writing by the account owner, and the new rate will be the current rate offered on the same “Step Up” product at the time of the written request.
• On Variable Rate products, we may change the interest rate on your account at any time at our discretion.

Compounding and Crediting

Interest will be compounded monthly. You have the choice of having your interest credited to the account monthly or having the interest paid monthly to your Legacy checking account. The annual percentage yield assumes interest remains on deposit until maturity. A withdrawal will reduce earnings. If you choose to have interest paid at maturity, it will not be compounded and earnings will be reduced.

Effect of closing the account: If you close your account before interest is credited, you will receive the accrued interest.

Balance Computation Method

We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on non-cash deposits: Interest begins to accrue on the business day you deposit non-cash items (for example, checks).

Withdrawal Limitations

Principal: 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 Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty.

Interest: You can withdraw interest credited in the term before maturity of that term without penalty. Interest can be withdrawn anytime after it is credited to your account.

Interest will be paid by direct deposit to the account of your choice. If you choose to receive an interest check, a $5.00 fee per check will be assessed.

Early Withdrawal Penalty: A penalty may be imposed for withdrawals before maturity. The penalty will be an amount equal to:

• Six months interest on CDs with terms twelve months or less;
• Twelve months interest on CDs with terms of more than twelve months.

Renewal Policy

This account will automatically renew at maturity. You will have ten (10) days after the maturity date to withdraw funds without penalty.

The account will not renew if you withdraw the funds on the maturity date or if we receive written notice from you, on or before the maturity date, of your intention not to renew.

Renewal Terms: Each renewal term will be the same as the original product and term, beginning on the maturity date, with the following exceptions: The Legacy Bank 5-month CD will renew as a 6-month CD; the Legacy Bank 7-month CD will renew as a 6-month CD; the Legacy Bank 13-month CD will renew as a 12-month CD; the Legacy Bank 14-month CD will renew as a 12-month CD.