1. Definition of Active Member. A member of Alaska USA Federal Credit Union (hereafter referred to as Alaska USA or credit union) must maintain a balance of at least $5 (par value of one share) in any share account to qualify as an active member with all the privileges thereof, including opening or maintaining accounts. If a member draws an account balance below $5 or the account balance is reduced below $5 as a result of any share account service fee and the member does not increase the balance to $5 within a six-month period, membership will terminate.

2. Account Agreement. Account terms and conditions are also separately set forth in the Master Account Agreement and Master Joint Account Agreement. All accounts are governed and controlled by the laws of the State of Alaska. The member (who is also the joint owner) and the other joint owners agree to conform to the bylaws of Alaska USA and agree to the terms, conditions, and fee schedules established by Alaska USA from time to time. Only the member may add, remove, or change the status of other joint owners after compliance with applicable Alaska USA procedures. Such action must be executed in writing by the member and shall not affect transactions made within one business day of receipt of notice by Alaska USA. However, any joint owner except the member may voluntarily delete his/her own name from the account by written request. If a joint owner is deleted from the account, any blank checks in such owner’s possession that are presented for payment may be honored by Alaska USA. Accordingly, the member shall be solely responsible for recovering any checks in the possession of the joint owner whose name is deleted from the account. The member and other joint owners agree with each other and with Alaska USA that any joint owner may establish verbally or in writing additional accounts associated with a master account number. In addition, the member and other joint owners agree that all sums now paid in on any account, or which may be paid in on such accounts in the future, by any or all of the joint owners to their credit as such joint owners, together with all earnings and other additions, are and shall be owned by them jointly and equally with right of survivorship regardless of their net contributions. All accounts shall be subject to withdrawal or receipt by any of the joint owners regardless of their net contributions, and payment to any of them or the survivor or survivors shall be valid and shall discharge Alaska USA from any further liability for such payment. Each of the joint owners appoints the other his or her attorney in fact to sign or endorse all withdrawal slips, checks, or drafts to be cashed or deposited and to access the accounts associated with a master account number by debit card(s) or by any other means approved by Alaska USA. Any and all of the joint owners agree and acknowledge that they are pledging all or any part of funds in the accounts associated with this master account number as collateral security for any loan or loans with Alaska USA. A pledge of shares by any one joint owner is binding on all joint owners.

3. Account Statements. Members shall examine each statement of account from the credit union and discover and then notify the credit union in writing of any errors, unauthorized transactions, alterations, unauthorized signatures, or other problems promptly. If you do not notify the credit union of the errors, unauthorized transactions, alterations, unauthorized signatures, or other problems on or before the fortieth (40th) day after the first account statement containing the error or problem was mailed, you will have waived and are precluded from asserting against the credit union the errors, unauthorized transactions, alterations, unauthorized signatures, or problems, and the credit union shall not be liable for the errors, unauthorized transactions, alterations, unauthorized signatures, or problems, or for any related payments made and charges to your account. If the problem involves an unauthorized signature or alteration, you are precluded from asserting against the credit union any subsequent unauthorized signatures or alterations by the same individual, unless you notify the credit union of the unauthorized signature or alteration within thirty (30) days of the date the credit union mailed the first statement containing the first unauthorized signature or forgery.

4. Definition of Share Accounts and Share Drafts. The term Share Accounts generically and collectively refers to the following types of accounts: savings, money market, share draft (checking), Health Savings Accounts (HSAs), certificates, and Individual Retirement Accounts (IRAs). Share draft accounts will hereafter be referred to as checking accounts and share drafts as checks. For regulatory classification and reporting purposes only, credit union checking accounts are structured into checking and savings sub-accounts. The amount of the savings subaccounts is equivalent to the funds not routinely needed to pay checks and other withdrawals from checking accounts. Since this amount varies from time to time, the credit union may transfer funds between the checking and savings sub-accounts prior to reporting aggregate balances to the Federal Reserve Bank, as required by federal regulation. This classification and reporting does not affect available balances, dividends earned on dividend bearing accounts, National Credit Union Administration (NCUA) insurance, the appearance of statements of account, or any other features or functions of checking accounts.

5. Assignability of Accounts. All share accounts are nonassignable and nontransferable to third parties. A Certificate Receipt is nonnegotiable.

6. Zero Balance Accounts. Zero balance accounts will not be assessed a maintenance fee unless it is determined by Alaska USA that the account is still being used by the member. Accounts left with a zero balance will be automatically closed after a reasonable period of time, generally within 32 to 92 days from the date of last account activity. Members may reactivate zero balance accounts within six months from the date of last activity.

7. Changes to Account Terms and Conditions. Changes to the terms and conditions of accounts may occur from time to time and do not require member approval. However, members will be notified of any change, amendment, or modification that would adversely affect them at least thirty (30) days in advance of such change.

8. Credit Union Bylaws Limitations. No member may withdraw shareholdings that are pledged as required security on loans without the written approval of a loan officer, except to the extent that such shares exceed the member’s total primary and contingent liability to Alaska USA. No member may withdraw any shareholdings below the amount of his/her primary or contingent liability to Alaska USA if she/he is delinquent as a borrower, or if borrowers for whom she/he is comaker, endorser, or guarantor are delinquent, without the written approval of a loan officer; except that shares issued in an irrevocable trust are not subject to restrictions upon withdrawal except as stated in the trust agreement. The maximum amount of shares which may be held by any one member shall be established from time to time by resolution of the Board of Directors.

9. National Credit Union Share Insurance Fund Member accounts are federally insured up to $100,000 by the National Credit Union Administration (NCUA). The NCUA is the federal agency that charters and supervises federal credit unions and insures savings in federal credit unions across the country through the National Credit Union Share Insurance Fund (NCUSIF), a federal fund backed by the full faith and credit of the United States government. Individual Retirement Accounts (IRAs) are separately insured up to an additional $250,000 by the NCUSIF.

10. Nature of Dividends. Dividends are paid to accounts earning dividends from current income and available earnings after required regulatory transfers to reserves at the end of a dividend period. The disclosed Dividend Rate and Annual Percentage Yield (APY) are the prospective rates and yields that Alaska USA anticipates paying for the applicable dividend period.

11. Rate Information. The Dividend Rate and APY on member account(s) are provided on a separate document entitled "Current Share Rates." That document, along with this Share Account Disclosure Statement, are collectively referred to as "Account Disclosures." The dividend rates and APY set forth in the Current Share Rates sheet were offered within the most recent seven calendar days and were accurate as of the date on the rate sheet. Please visit www.alaskausa.org or call the Member Service Center to obtain current dividend rates and APYs.

In Anchorage: 563-4567
Outside Anchorage: (800) 525-9094
TTY/Hearing Impaired: (800) 742-7084
6 a.m.–10 p.m. Alaska Time
7 a.m.–11 p.m. Pacific Time
7 days a week

The APY measures the total amount of dividends paid on an account based upon the dividend rate and the frequency of compounding. The APY is expressed as an annualized rate, based upon a 365- day year. APY calculation assumes that principal and paid dividends remain in the account a full 365 days (variable rate accounts) or through the maturity date (fixed rate accounts). A withdrawal of paid dividends before maturity of term share accounts (Certificate, Tax-Deferred IRA Certificate, or Term IRA) will reduce earnings. The Dividend Rate and APY may change as determined by the Board of Directors as stated within the Account Disclosures. Rate changes are solely within Alaska USA’s discretion. However, once a term share account is issued or renewed, the rates are fixed over the term of that account (fixed rate account). Other share accounts that may earn dividends are variable rate accounts. The frequency with which the Board of Directors may change variable rate account rates is set forth in the Comparative Summary of Share Accounts (page 6).

12. Compounding and Crediting Dividends. Accounts opened after December 31, 1983, on which the taxpayer identification number (TIN) has not been certified will not receive a dividend. The frequency with which dividends are compounded and credited (Dividend Period) is set forth in the Comparative Summary of Share Accounts. Dividend Period means the span of time established by the Board of Directors at the end of which time shares in a member account earn dividend credit. The Dividend Period may be different for each account type. The Dividend Period for each account type is also set forth in the Comparative Summary of Share Accounts. The Dividend Period begins on the first calendar day of the period and ends on the last calendar day of the period. For example, if the dividend period is monthly, then the first dividend period within a calendar year would begin January 1 and end January 31. All other monthly dividend periods follow this same pattern. If the dividend period is quarterly, then the first dividend period within a calendar year would begin January 1 and end March 31. All other quarterly dividend periods follow this same pattern. The dividend declaration date precedes the ending date of a dividend period and is usually the date of the meeting of the Board of Directors immediately before that ending date. The Board of Directors generally meets on the last Wednesday of a calendar month. The effective beginning date for a new Tax-Deferred IRA Certificate account is the date that the Tax-Deferred IRA Certificate was issued or renewed. The effective beginning date for Certificates is the date that the Certificate was issued or renewed. The effective beginning date for all other new share accounts is the first calendar day that funds were deposited. Certificates and Tax-Deferred IRA Certificates with an original maturity of less than one year will receive accrued dividends at maturity. Certificates and Tax- Deferred IRA Certificates with an original maturity of one year or more will receive accrued dividends at the end of each month and at maturity. Dividends will not be paid if an account is closed before accrued dividends are credited.

13. Balance Requirements and Dividend Accruals. The minimum balance to open each account type is set forth in the Comparative Summary of Share Accounts. This summary also sets forth the minimum daily balance that must be maintained in an account each day to obtain the disclosed APY. The minimum daily balance required to avoid the imposition of an account maintenance fee is also set forth in the summary. The account type designations in effect during the dividend period will determine the corresponding balance requirements used in dividend calculation and maintenance fee assessment. Changing an account type designation is limited to one change per dividend period for Share Savings or Premium Savings as well as for Money Market, Super Money Market, or Jumbo Money Market Accounts. Account type changes must be requested and are not established automatically based upon account balance. The account type designation for checking accounts in effect at the end of the calendar month will determine the corresponding balance requirements used in dividend calculation, if applicable, as well as maintenance fee assessment. Changing the Investor Checking account type designation may result in loss of accrued dividends. Dividends are calculated by the Daily Balance method that applies a daily periodic rate to the principal balance every day, providing that the balance is at or above the minimum daily balance required to earn dividends for that account type on that day. Dividends will begin to accrue on the business day that the cash or non-cash (e.g., check) deposit is made to the account. Dividends will begin to accrue on direct deposits on the effective date of the deposit, which is the business day the credit union receives credit for the deposit. The effective date of receipt is shown on the periodic statement of account.

14. Transaction Limitations on Accounts. The transaction limitations (if any) for each account type are set forth in the Comparative Summary of Share Accounts. Alaska USA reserves the right, under federal regulations, to close accounts that exceed those limitations. Individual Retirement Account (IRA and Term IRA) deposits are limited to the maximum annual legal limit, in accordance with applicable law and Internal Revenue Service rules, unless the funds represent a transfer or rollover from another qualified retirement account. Term share accounts have additional limitations, as set forth in the Comparative Summary of Share Accounts. A penalty for early withdrawal will be assessed if the deposited funds or any portion of them are withdrawn prior to maturity date, including mandatory age distributions from a Term IRA or Tax-Deferred IRA Certificate. Once the funds are deposited into a Certificate or Tax- Deferred IRA Certificate, additional deposits are not allowed. Additional deposits are not allowed into a Term IRA established or renewed after January 21, 2002. Partial withdrawals from a Certificate, Tax- Deferred IRA Certificate, or Term IRA are not allowed if the withdrawal would lower the balance below the required minimum. Paid dividends on a Certificate may be withdrawn without penalty only if this dividend disposition election was made

15. Holds on Deposited Funds (Regulation CC Expedited Funds Availability Disclosure). Generally, Alaska USA’s policy is to make funds from member deposits available on the day of deposit. Funds from an electronic direct deposit will be available on the date Alaska USA receives payment for that deposit. A cash deposit will be available on the date of deposit, if made in person during business hours. In most cases, funds deposited by check are available to the member prior to final collection of those checks. Deposited funds are used to pay checks that have been written if funds are deposited into a checking account, or funds may be withdrawn by the member in cash. Although members may withdraw these funds, they remain responsible for any deposited check that may be returned unpaid.

16. Substitute Checks and Your Rights.

17. Overdraft Protection for Checking Accounts. Overdraft protection is available only when an Agreement to Provide Overdraft Protection has been executed. If for any reason Alaska USA cancels a Credit Line loan, overdraft protection from this source will cease without prior notice.

18. Term Share Account Maturity or Renewal. Term share accounts will mature within the term or at the maturity date set forth in the Comparative Summary of Share Accounts or the maturity date set forth in the Certificate Receipt or Maturity Notice. At maturity, a Term IRA or Tax-Deferred IRA Certificate not specified to automatically renew, will automatically convert to a variable-rate IRA and is subject to the terms and conditions of a variable-rate IRA. Certificates and Tax-Deferred IRA Certificates are eligible for automatic renewal. A Certificate or Tax-Deferred IRA Certificate designated for automatic renewal will be considered a new deposit upon renewal and will be extended for successive periods equal to the original term and at the prevailing dividend payment frequency, dividend rate, and APY being paid by Alaska USA as of the renewal date on Certificates or Tax-Deferred IRA Certificates with the same term and minimum balance, unless otherwise specified by the Certificate owner prior to maturity. Certificates not specified to automatically renew at maturity as recorded on the Certificate Receipt, or as later specified to automatically renew by the Certificate owner prior to the maturity date, shall be disbursed as instructed. The Early Withdrawal Penalty applies to all renewals as if they were new deposits. If not automatically renewed, dividends will not be accrued or paid on Certificates after maturity date. Funds disbursed from a matured Certificate, if deposited into another account of the Certificate owner, are subject to the terms and conditions of that account. There is no grace period following the maturity of a term share account.

19. Early Withdrawal Penalty: Certificates and Tax-Deferred IRA Certificates.

20. Early Withdrawal Penalties: Term IRA.

a. If funds are withdrawn prior to the maturity date, a penalty will be deducted from the amount withdrawn equal to the lesser of:

1. an amount equivalent to 180 days’ dividends on the amount withdrawn, or
2. an amount equal to the dividends paid and/or accrued on the amount withdrawn from the date of issuance or renewal to the withdrawal date.

b. Application of this penalty may result in the forfeiture of some principal, as well as dividends. Exceptions to the penalties shall apply only in case of death of the Term IRA owner.

Schedule of Share Account Services Fees and Charges

Please see Alaska USA's Schedule of Service Fees for loan and other fees and charges, as well as the share account fees listed above.

* Fee not assessed for transactions through UltraBranch (Account access by Internet, telephone, and Self-Service Terminal).

The Alaska USA Privacy Pledge

Alaska USA will never sell its member list or nonpublic personal information to any third party.

What nonpublic personal information does Alaska USA collect about its members?

• Information received from members on applications or other forms.
• Information about member transactions with Alaska USA, its affiliates, or others.
• Information received from credit reporting agencies.
• Information obtained when verifying information provided by members on applications or other forms, such as from current or past employers, other financial institutions where members conduct financial transactions, and other sources listed on applications.

Employee Access to Information
The only Alaska USA employees who have access to nonpublic personal member information are those employees who need that information in order to administer member accounts and transactions. Alaska USA maintains physical, electronic, and procedural safeguards that comply with federal regulations to guard nonpublic personal information about members.

Disclosure of Information
Alaska USA may disclose all of the information it collects, as previously described:

• to subsidiaries, affiliates, and other companies that perform marketing or member services on its behalf;
• to other financial institutions with whom it has marketing or member service agreements;
• as otherwise permitted or required by law.

These subsidiaries, affiliates, and companies that assist Alaska USA in providing services to members will be given only the information they need in order to provide the service, and must agree to protect confidential member information.

Alaska USA will never sell its member list or nonpublic personal information to any third party. If membership is terminated, Alaska USA will not share member information, except as permitted or required by law.

About Alaska USA
Alaska USA is a member-owned, not-for-profit financial cooperative. Its volunteer board is elected from and by the membership. Alaska USA is committed to protecting your financial privacy. If you have any questions, please contact the Member Service Center.

Alaska USA Federal Credit Union
P.O. Box 196613
Anchorage, AK 99519-6613

In Anchorage: 563-4567
Outside Anchorage: (800) 525-9094
TTY/Hearing Impaired: (800) 742-7084
6 a.m.–10 p.m. Alaska Time
7 a.m.–11 p.m. Pacific Time
7 days a week

This privacy notice is required by law to explain how Alaska USA collects, uses, and safeguards your personal financial information.