1 Account Agreement and Rules and Regulations For

ACCOUNT AGREEMENT AND RULES AND REGULATIONS FOR:

REGULAR (PRIMARY) SHARE ACCOUNTS MONEY MARKET ACCOUNTS FASTRACK CHECKING ACCOUNTS HOLIDAY CLUB ACCOUNTS VACATION CLUB ACCOUNTS YOUTH CLUB ACCOUNTS

Dear Member,

This agreement contains the rules and regulations which will govern your account(s) (“Account”) with Municipal Credit Union (“MCU” or “we” or “us”) and certain mandated disclosures (the “Agreement”).

PLEASE READ THIS AGREEMENT CAREFULLY. BY OPENING, MAINTAINING, OR USING YOUR ACCOUNT OR ANY RELATED SERVICES, YOU AGREE TO THE TERMS AND CONDITIONS OF THIS AGREEMENT, INCLUDING THOSE WHICH MAY REQUIRE YOUR EXPRESS CONSENT.

THE SECTION REGULATING “DISPUTE RESOLUTION; BINDING ARBITRATION CLAUSE; JURY TRIAL WAIVER; CLASS ACTION WAIVER” ON PAGES 5-8 OF THIS AGREEMENT REQUIRES CLAIMS TO BE ARBITRATED. ARBITRATION REPLACES THE RIGHT TO RESOLVE DISPUTES IN COURT, INCLUDING THE RIGHT TO PARTICIPATE IN A CLASS ACTION OR SIMILAR PROCEEDING. In addition to these rules and regulations, your Account(s) will be subject to MCU’s by-laws and Member Code of Conduct Policy, and all applicable federal, state and local laws, rules and regulations, as now in effect and as from time to time amended.

The Schedule of Dividends, Service Charges and Fees for all MCU accounts is also incorporated as part of this Agreement.

RULES AND REGULATIONS APPLICABLE TO ALL ACCOUNTS

MEMBERSHIP ELIGIBILITY: To be eligible for membership with MCU, you must satisfy the eligibility requirements set forth in MCU’s bylaws. You authorize us to review your Account, credit and employment history, and to obtain reports from third parties, including consumer reporting agencies, to verify your eligibility for membership and any Accounts or services that you may request.

DEPOSITS: Deposits may be made at any time in person, by mail, via payroll deductions or electronic funds transfer. Deposits shall be deemed to be made when recorded on MCU’s books and not necessarily on the date you initiated the transaction.

WITHDRAWALS – GENERALLY: MCU may refuse to permit withdrawals under certain circumstances, for example: (a) the withdrawal consists of funds deposited in the form of a check,

draft or other payment instrument which has not been on deposit for the appropriate periods set forth in MCU’s Funds Availability Schedule; (b) there exists a dispute about the Account; (c) the funds sought to be withdrawn are pledged as collateral for a debt; (d) the withdrawal consists of money MCU has credited towards an overdue debt that you owe to MCU; (e) the funds sought to be withdrawn have been ordered restrained or transferred to a creditor other than MCU; (f) proper documents or identification have not been presented. In accordance with the law, MCU reserves the right to require thirty (30) days advance written notice of any intended withdrawal, except withdrawals from a checking (share draft) account. Withdrawals shall be deemed to be made when recorded on MCU’s books and not necessarily on the date you initiated the transaction.

PERIODIC STATEMENTS: You will receive a monthly statement if you have a FasTrack Checking Account or Basic Share Draft Account, or anytime an electronic fund transfer has been made to or from your Account(s) during the month. If you do not have a FasTrack Checking Account or Basic Share Draft Account, or if no electronic fund transfers have occurred during the month, you will receive periodic statements on your Regular Share Account, Money Market Account and Club Accounts, at least quarterly.

TRANSFERABILITY & ASSIGNMENT: Shares are transferable only to qualified members and in accordance with procedures approved by MCU. No Account may be assigned without MCU’s prior written consent. Any transfer or assignment of an Account remains subject to our security interest and right to set-off, as applicable.

RIGHT OF SETOFF: Except with regard to Individual Retirement Accounts (IRAs), Coverdell Education Savings Accounts (ESAs) and as otherwise prohibited by law, MCU has a right of setoff. This means MCU may set-off against your non-IRA and non-Coverdell ESA accounts any liabilities or obligations owed to MCU, except when prohibited by law or specifically disclaimed by loan agreement.

JOINT ACCOUNTS: If an Account is a joint account, you authorize MCU to recognize any of the signatures subscribed on the signature card in the payment of funds or the transaction of any business for this Account. The joint owners of the Account hereby agree with each other and with MCU that all sums now paid in on shares, or heretofore or hereafter paid in on shares, by any and all of said joint owners with all accumulations thereon, are and shall be owned by them jointly, with right to survivorship and be subject to the withdrawal or receipt of any of them, and payment to any of them or the survivor or survivors shall be valid and discharge MCU from any liability for such payment.

(a) transfer funds, including funds payable solely or jointly to another joint owner; (b) bind the joint tenant to the terms and conditions of any agreement for services provided to or in connection 2

with the joint account; (c) pledge all or any part of the funds in the joint account as security for debts owed to MCU whether individual, joint, or of a non-owner; (d) receive notices, confirmations, statements, demands and other communications concerning this Agreement or the joint account.

IN TRUST FOR ACCOUNTS: This Account establishes another person or persons as beneficiary (ies) for an individual or joint account. The beneficiary receives the funds in the Account only upon the death of all account owners and cannot make any withdrawals or account changes before this time. During the lifetime of one or more account owners, the Account will be treated as an individual account or joint account, as applicable. At our discretion, MCU will accommodate a beneficiary name change. In that event, the individual account owner or any of the joint owners must sign all applicable account documents.

CONVENIENCE ACCOUNTS: If the Account is a convenience account within the meaning established under Section 678 of the New York Banking Law, it is understood and agreed that the initial deposit, and any additions or accruals thereto, are the property of the owner individually and, as such, only the owner may request that the Account be closed during his or her lifetime. Upon the death of the owner, the other named person on the Account shall have no right of survivorship in the Account. However, MCU may honor withdrawal requests from either the owner or the other named person. Prior to receiving written notice of either the owner’s death or the owner’s instructions not to pay any monies in this Account to the other named person on the Account, MCU may honor, and will not be responsible for, withdrawals by the other named person.

CUSTODIAL (UNIFORM TRANSFERS TO MINORS ACT) ACCOUNTS: The funds in this Account are owned by a minor, who receives the funds as a permanent (irrevocable) gift. The Account is controlled by a custodian, who manages the Account for the minor’s benefit. MCU will act upon the custodian’s instructions. One custodian and one minor are allowed per Account. You may wish to consult your tax advisor or attorney before opening up this type of Account.

ABANDONED ACCOUNTS: If your Account becomes abandoned, the shares will be turned over to the applicable state agency responsible for unclaimed funds and your Account may be debited by MCU as permitted by law. Pursuant to New York State law, an account is considered abandoned if it is inactive for a period of three (3) consecutive years. Your Account will be considered inactive unless you do one of the following: (1) deposit or withdraw funds; or (2) submit something in writing showing us you are aware of the Account.

YOUR CONSENT TO RECEIVE CALLS AND TEXT MESSAGES: You agree that if you provide, or have provided, any telephone number(s), including a cell phone number, on your membership application, other MCU’s form or verbally, you are giving MCU your consent to contact you at such telephone number(s) to service your loan and/or deposit accounts, communicate the status of your Accounts or applications and/or collect any amounts owed to us; whether these numbers are dialed manually or by means of an automatic telephone dialing system. You further agree methods of contact may include use of pre-recorded or artificial voice messages. These phone calls/text messages could result in charges and fees imposed by your mobile service provider.

You may revoke this consent at any time by notifying MCU by letter addressed to: Municipal Credit Union, P.O. Box 3205 CSS, New York NY 10008-3205, Attn: Collections (Opt-Out); or by 3

any other reasonable means. You represent and agree that you are the subscriber or customary user with respect to the cell phone number(s) provided and that you have the authority to give this consent. You agree to promptly notify us of any change to the telephone number(s) which you have provided to us. FRAUD AND IDENTITY THEFT RELATED CALLS AND TEXT MESSAGES: To help mitigate harm to you and your Accounts, we may contact you on any telephone number associated with your Accounts, including a wireless telephone number (i.e. cell phone number), to deliver to you any messages related to suspected or actual fraudulent activity on your Accounts, data security breaches or identity theft following a data breach, money transfers or any other exigent messages permitted by applicable law. These contacts will not contain any telemarketing, cross-marketing, solicitation, advertising, or debt collection message of any kind. The contacts will be concise and limited in frequency as required by law. You will have an opportunity to opt-out of such communications at the time of delivery. You further agree methods of contact may include use of pre-recorded or artificial voice messages, and/or use of an automatic dialing device.

FUNDS TRANSFER: If you ask MCU to transfer funds between accounts at MCU or to certain third parties outside MCU, and such transfers are not covered by a separate agreement you have with MCU pursuant to the Federal Electronic Funds Transfer Act (for instance, the ATM Card, Home Banking or Touch Tone Teller Agreements), the following conditions will govern such transfers:

All funds transfer orders, or communications cancelling or amending such orders, shall be in writing. The cutoff time for receipt of processing of a funds transfer order shall be 12:00 P.M. ET on each business day. The same cutoff time will apply to communications cancelling or amending such orders. Requests received by the cutoff time on a business day will be processed by close of business on the day of receipt. Requests received on a non-business day, or after the cutoff time on a business day, will be processed within one business day of receipt.

You will receive notice of MCU’s crediting of a funds transfer to any of your MCU Account(s) through the regular periodic statement MCU provides for such Account(s).

MCU is under no obligation to accept or act upon a fund transfer order.

Unless specified otherwise, all pre-authorized funds transfers to third parties shall be executed as of the last day of each calendar month.

You agree that thirty (30) days following your receipt of the first periodic statement on which the transfer appeared is a reasonable time within which to notify MCU of an unauthorized or erroneously executed funds transfer order.

In no event shall MCU be liable to you for any incidental, consequential or special damages, including attorney fees, resulting from late or improper execution or failure to execute a funds transfer order.

ORDER CHECKS AND DEBITS ARE PAID: The order in which transactions are posted to and paid from your Account depends on the type, timing and source of a particular transaction; however, MCU’s general policy is that transactions are to be posted to your Account in the order 4

in which they are received. Posting orders also vary based on the method used by MCU to process a transaction. Certain transactions are posted to your Account in real time on the business day during which they are received. These include debit card and ATM withdrawal transactions. Other transactions are processed in “batches” at scheduled times during each business day. The posting order for transactions that are batch-processed varies by the type and source of the transaction. The types of transactions that are batch-processed and MCU’s methods for posting these transactions to your Account are summarized in the chart below. MCU may modify its posting processes at any time and in its sole discretion, including by establishing different processing orders for different types of transactions.

Transactions Posted in Batches How Batch Approximate Payments are Posting Time Posted (Each Business Day; New York Local Time)

Checks presented for payment (withdrawal from In ascending 7:00 AM your Account) by other financial institutions order by check through the Federal Reserve System serial number 3:00 PM 5:00 PM

Checks deposited at MCU branches and ATMs In ascending 6:00 PM order by check serial number

Pre-authorized electronic withdrawals (including In the order they 3:00 PM automated clearinghouse (“ACH”) are received transactions, checks converted to electronic from the network 5:00 PM payments), and scheduled bill payment provider transactions

AMENDMENTS: MCU may amend any term of this Agreement and your Account at any time. In accordance with the requirements of the applicable law, we will notify you of any increased charge or change through MCU’s newsletter, account statement or other separate notice mailed to you at the most recent address shown for you on our records. Notice to one joint account owner is notice to all joint account owners.

APPLICABLE LAW: This Agreement shall be governed and controlled by and enforced in accordance with New York State laws.

DISPUTE RESOLUTION; BINDING ARBITRATION CLAUSE; JURY TRIAL WAIVER; CLASS ACTION WAIVER:

Many concerns can be resolved by calling MCU at (212) 693-4900 or writing to us at the following mailing address:

Municipal Credit Union Attn: Legal Department 22 Cortlandt Street, 27th Floor New York, NY 10007

If a dispute cannot be resolved informally, the terms below explain how claims (whether by you against MCU, or by MCU against you) will be resolved.

A. Definitions.

“Claim” means any current or future claim, dispute or controversy relating in any way to this Agreement or your Account, except for:

(i) claims relating to the validity, enforceability or scope of the arbitration provision set forth in section D below;

(ii) claims relating to consumer credit transactions secured by a dwelling;

(iii) claims covered under the Military Lending Act; and

(iv) individual claims before courts having jurisdiction up to $ 25,000. The sole forum for these actions brought by the member or MCU, arising out of or related to this Agreement, whether such actions are in law or equity, shall be a court of competent jurisdiction in New York County, New York, unless otherwise required by law.

These claims are excluded from this binding pre-dispute arbitration clause.

“Claim” includes: (a) initial claims, counterclaims, cross claims and third-party claims; (b) claims based upon contract, tort, fraud, statute, regulation, common law and equity; (c) claims by or against any third party using or providing any product, service or benefit in connection with this Agreement or your Account; and (d) claims that arise from or relate to (i) this Agreement, (ii) your Account, (iii) advertisements, promotions, or statements related to this Agreement or your Account, (iv) your application to open an Account, or (v) consumer reporting or inquiries related to your Account.

“MCU,” “we” or “us” includes Municipal Credit Union’s present and future affiliates, their partners, officers, directors, employees and agents.

B. Binding Arbitration; Jury Trial Waiver; Class Action Waiver.

This Agreement contains a binding pre-dispute arbitration clause. The parties hereby agree as follows:

(b) Arbitration awards are generally final and binding; a party’s ability to have a court reverse or modify an arbitration award is very limited.

(c) The ability of the parties to obtain documents, witness statements and other discovery is generally more limited in arbitration than in court proceedings.

(d) The arbitrators do not have to explain the reason(s) for their award unless, in an eligible case, a joint request for an explained decision has been submitted by all parties to the panel at least twenty (20) days prior to the first scheduled hearing date.

(e) The rules of some arbitration forums may impose time limits for bringing a claim in arbitration. In some cases, a claim that is ineligible for arbitration may be brought in court.

(f) The rules of the arbitration forum in which the claim is filed, and any amendments thereto, shall be incorporated into this binding arbitration clause.

You agree to settle by arbitration any controversy between you and MCU arising out of or relating to this Agreement or your use of your Account, except as provided in Section A above. The arbitration will be conducted in accordance with the rules then in effect for the chosen arbitration forum, as described more fully in section C below. The award of the arbitrator or a majority of the arbitrators, as the case may be, will be final, and judgment upon the award rendered may be entered in any court having jurisdiction.

NO PERSON SHALL BRING A PUTATIVE OR CERTIFIED CLASS ACTION TO ARBITRATION. MCU shall not seek to enforce this pre-dispute arbitration clause against any person who, prior to the date of this Agreement: (i) has initiated in court a putative class action, or (ii) is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putative class action; until:

the class certification is denied;

the class is decertified; or

the other party is excluded from the class by the court.

Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under this Agreement except to the extent stated herein.

If you are a resident of Canada, you acknowledge and agree that to the extent your Agreement provides for arbitration, this provision is hereby amended to include the following at the end of the section: “The award rendered by the arbitrator or any judgment upon the award rendered by the arbitrator that has been entered by a federal or state court in the United States may be recognized and enforced by any court of a province or territory of Canada having jurisdiction.”

C. Arbitration Procedures.

The parties must choose to arbitrate before either JAMS (1-800-352-5267; www.jamsadr.com) or the American Arbitration Association (“AAA”) (1-800-778-7879; https://adr.org). However, if we choose one of those two organizations, you may choose the other organization instead if you inform us of that choice within thirty (30) days after we elect arbitration.

Claims will be resolved pursuant to the dispute resolution provisions hereunder and the selected organization’s rules in effect when the Claim is filed, except where those rules conflict with the terms hereunder. If the rules conflict, the terms of this Agreement will apply. Contact JAMS or AAA to begin an arbitration or for other information. Claims also may be referred to another arbitration organization, if you and we agree in writing, or to an arbitrator appointed pursuant to Section 5 of the Federal Arbitration Act, 9 U.S.C. §§ 1-16 (the “FAA”).

This arbitration provision is governed by the FAA. The arbitrator will apply applicable substantive law, statutes of limitations and privileges. The arbitrator will not apply any federal or state rules of civil procedure or evidence in matters relating to evidence or discovery. Subject to the limitations hereunder, the arbitrator may award any relief available in court. Any award of punitive damages will be subject to the same limitations as an award of punitive damages in court. The arbitration will be confidential, but you may notify any government authority of your Claim. Judgment upon any arbitration award may be entered in any court having jurisdiction. Arbitration hearings will take place in New York, NY or, upon your request, in the federal judicial district where you reside.

D. Survival and Severability of Dispute Resolution Provision.

The dispute resolution provisions described in the sections above, will survive the closing of your Account and the termination of any relationship between us, termination of this Agreement, any legal proceeding relating to your Account, any bankruptcy (as applicable) or receivership and any sale or assumption of this Agreement, your Account or any and all rights thereunder. In the case of a sale or assumption of this Agreement, your Account or any and all rights thereunder, the buyer will be bound by and may enforce the dispute resolution provisions hereunder. If any portion of the dispute resolution provisions is deemed invalid or unenforceable, it will not invalidate the remaining provisions or any other terms of this Agreement.

ADDITIONAL RULES FOR FASTRACK CHECKING AND MONEY MARKET ACCOUNTS

The following rules apply to FasTrack Checking and Money Market Accounts maintained with MCU. Please see the Truth in Savings Disclosure below for information regarding the dividend rate, annual percentage yield (APY), minimum balance requirement and other terms and conditions for these Accounts.

BLANK CHECKS: Only blank checks (share drafts) and other methods approved by MCU may be used to withdraw funds from FasTrack Checking and Money Market Accounts.

TRUNCATION AND IMAGING: MCU uses a truncated check (share draft) processing system which utilizes the efficiencies of the Federal Check 21 law. In this system, the checks you write will be converted into images during the check collections and return process and then forwarded electronically to MCU for payment. The bank or other entity which converted the original paper check into an image will usually retain the paper check for a short period and then destroy it. MCU will retain a copy of the check image for a period of at least seven (7) years. You may opt to have copies of your checks sent along with your periodic statements for a fee (see the Schedule of Dividends, Service Charges and Fees for details). Photocopies of individual checks will be provided upon request and applicable fees for providing you with the same will be automatically debited against your Account.

In processing your checks electronically, MCU will be relying on the information encoded at the bottom of the checks by the bank or other entity which converted the paper check into an image. That means we may not examine individual items to verify whether the item was encoded, signed or indorsed correctly. You agree that MCU does not fail to exercise reasonable care solely by utilizing this automated process and you agree not to hold MCU liable for errors that result from processing a check based on the information received from the converting institution.

WITHDRAWALS: There is no limit on the number of checks (drafts) you may draw against your FasTrack Checking Account. However, you may draw no more than six (6) checks during any monthly cycle against your Money Market Account (subject to the overall limitations described in the Transaction Limitations section of the Truth in Savings Disclosure for Money Market Accounts set forth below). If you present a check (share draft) made payable to yourself or to “cash” at any of our branches, the check will be processed as an over-the-counter withdrawal and will be debited from your Account on the date of such payment.

TERMINATION OF ACCOUNT: MCU reserves the right to close a FasTrack Checking Account or Money Market Account at any time by mailing you notice of the same. MCU is not liable for refusing to pay any share draft or check presented after an Account is closed.

ADDITIONAL RULES FOR CLUB ACCOUNTS

The following rules apply to Club Accounts maintained with MCU. Please see the Truth in Savings Disclosure below for information regarding the dividend rate, APY, minimum balance requirement and other terms and conditions for these Accounts.

HOLIDAY CLUB ACCOUNT: This Account runs on a one-year cycle from the first day of November of each year to the last day of October of the following year. On the first day of November of each following year, unless you have previously instructed us otherwise, we will transfer the entire balance on deposit in the Account as of the close of business of the last day of October, to your FasTrack Checking Account or Basic Share Draft Account, or if you have no FasTrack Checking Account or Basic Share Draft Account, to your Regular Share Account. If deposits continue to be received after the last day of October in any year, or if you have elected to rollover your entire Account balance at cycle-end, this Account will automatically renew for another one-year cycle.

VACATION CLUB ACCOUNT: This Account runs on a one-year cycle from the first day of May of each year to the last day of April the following year. On the first day of May of each 9

following year, unless you have previously instructed us otherwise, we will transfer the entire balance on deposit in the Account as of the close of business on the last day of April to your FasTrack Checking Account or Basic Share Draft Account, or if you have no FasTrack Checking Account or Basic Share Draft Account, to your Regular Share Account. If deposits continue to be received after the last day of April in any year, or if you have elected to rollover your entire Account balance at cycle-end, this Account will automatically renew for another one-year cycle.

YOUTH CLUB ACCOUNTS: These Accounts may only be opened and maintained as either: (a) a Convenience Account in the name of a minor between the ages of 13 and 21 (who will be designated the Owner of the Account) together with a person eligible for membership as a primary owner (who will be designated the For Convenience Only Adult); or (b) a Custodial Account established pursuant to the N.Y. Uniform Transfers to Minors Act for the benefit of a minor under the age of 21, with a person eligible for membership as a primary owner, who will be designated as the Custodian thereof. Youth Club Accounts use the social security number of the minor for income tax reporting purposes. When the minor turns 21 years of age, the Youth Club Account must be closed and the remaining monies in the Account transferred: (a) to one of MCU’s other deposit accounts (at such time, new account signature cards will need to be completed); or (b) as otherwise instructed in writing by the Owner. A notice reminding the minor of this requirement will be mailed at least thirty (30) days prior to the minor’s 21st birthday. Whether or not the minor receives such notice, the remaining monies in the Youth Club Account will be automatically transferred to a Regular Share Account in the sole name of the minor (bearing the then current terms and conditions applicable to such Accounts), unless the minor gives MCU other written instruction prior to or within ten (10) days after the minor’s 21st birthday. The Convenience Account and the Custodial Account described in this section are subject to the rules described in the preceding sections titled Convenience Accounts and Custodial (Uniform Transfers to Minors Act) Accounts, respectively.

WITHDRAWALS: Only two withdrawals prior to the end of the yearly cycle will be permitted against Holiday Club Accounts and Vacation Club Accounts and the second of these withdrawals must consist of all monies in the Account. If you withdraw all monies from your Holiday Club Account or Vacation Club Account prior to the end of its yearly cycle, the Account will be closed and another such account may not be opened until the next yearly cycle begins. If the Account is closed, any payroll deduction or other electronic funds transfer deposits designated for the Account will be credited to your Regular Share Account, unless MCU is instructed otherwise.

STATEMENTS: The statement for Club Accounts will be included in the quarterly statement for your Regular Share Account.

TRUTH IN SAVINGS DISCLOSURE

REGULAR SHARE ACCOUNT

RATE INFORMATION: The dividend rate and APY for this Account are set forth in the Schedule of Dividends, Service Charges and Fees. The dividend rate and APY for this Account may change every dividend period as determined by MCU Board of Directors.

COMPOUNDING AND CREDITING: Dividends will be compounded quarterly and will be credited on the last business day of each calendar quarter. For this type of Account, the dividend period is quarterly, 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 March 31. All other dividend periods follow the same pattern of dates. The dividend declaration date follows the ending date of the dividend period, and for the example is April 1. If you close your Account before dividends are credited, you will not receive accrued dividends.

MEMBER IN GOOD STANDING - MINIMUM BALANCE REQUIREMENTS: The minimum balance to open this Account is the purchase of a $5.00 share in MCU. You must maintain a minimum $5.00 balance to be a member in good standing. You may be allowed to withdraw the last $5.00 share in your Account, provided that: (i) you give MCU 30 day written notice to Municipal Credit Union, P.O. Box 3205, Church Street Station, New York, NY 10008- 3205, Attention: Research Dept. or send a fax to 212-416-7051, Attention: Research Dept., and (ii) you replenish the Account with $5.00 within six (6) months from the date of the withdrawal.

You must maintain a minimum average daily balance of $500.00 in your Account to obtain the disclosed APY. You must maintain an average daily balance of at least $500.00 during any calendar month in one or a combination of all of your MCU deposit accounts (under the same root account number) to avoid a Minimum Balance Charge (please see Schedule of Dividends, Service Charges and Fees for reasons under which the Minimum Balance Charge will be waived).

BALANCE COMPUTATION METHOD: 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.

ACCRUAL OF DIVIDENDS ON NON-CASH ITEMS: Dividends will begin to accrue on the business day you deposit non-cash items to your Account (e.g., checks).

FEES AND CHARGES: See Schedule of Dividends, Service Charges and Fees on pages 1-2; 6- 8.

TRANSACTION LIMITATIONS: During any calendar month, you may not make more than six withdrawals or transfers to another MCU account of yours or to a third-party by means of a pre-authorized or automatic transfer or telephonic order or instruction (including Touch Tone Teller and home banking transfers and checks).

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

PAR VALUE OF SHARES; DIVIDEND PERIOD: The par value of a regular share in MCU is $5.00. The dividend period is quarterly.

MONEY MARKET ACCOUNT

RATE INFORMATION: The dividend rate and APY for this Account are set forth in the Schedule of Dividends, Service Charges and Fees. The disclosed dividend rates and APYs are applicable to the specified average daily balance tier. The dividend rates and APYs may change weekly as determined by MCU. The dividend rate paid on each average daily balance tier will be calculated by averaging the published anticipated dividend rates applicable to such tier for the weeks of the monthly dividend period.

COMPOUNDING AND CREDITING: Dividends are compounded monthly and will be credited to your Account on the last business day of each calendar month.

MINIMUM BALANCE REQUIREMENTS: The minimum balance required to open this Account is $2,500.00. You must maintain a minimum average daily balance of $2,500.00 in your Account to avoid a Low Balance Fee. If, during any calendar month your average daily balance is below the required minimum daily balance, your Account will be subject to a Low Balance Fee of $5.00 for that month (please see Schedule of Dividends, Service Charges and Fees).

In addition to the above, you must maintain an average daily balance of at least $500.00 during any calendar month in one or a combination of all of your MCU deposit accounts (under the same root account number) to avoid a Minimum Balance Charge (please see Schedule of Dividends, Service Charges and Fees for reasons under which the Minimum Balance Charge will be waived).

BALANCE COMPUTATION METHOD: Dividends are calculated by the average daily balance method which applies a daily rate to the average daily balance in the Account for the period. The average daily balance is calculated by adding the balances in the Account for each day of the period and dividing that figure by the number of days in the period.

ACCRUAL OF DIVIDENDS ON NON-CASH ITEMS: Dividends will begin to accrue on the business day you deposit non-cash items to your Account (e.g., checks).

FEES AND CHARGES: See Schedule of Dividends, Service Charges and Fees on pages 4-8.

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

FASTRACK CHECKING ACCOUNT

RATE INFORMATION: No dividends are earned or paid for this Account. Accordingly, information regarding the compounding and crediting and dividends and the balance computation method used to calculate dividends are not applicable to this Account and such information is intentionally omitted from this disclosure statement.

MINIMUM BALANCE REQUIREMENTS: You must maintain an average daily balance of at least $500.00 during any calendar month in one or a combination of all of your MCU deposit accounts (under the same root account number) to avoid a Minimum Balance Charge (please see Schedule of Dividends, Service Charges and Fees for reasons under which the Minimum Balance Charge will be waived).

FEES AND CHARGES: See Schedule of Dividends, Service Charges and Fees on pages 2-3; 6- 8.

TRANSACTION LIMITATIONS: No transaction limitations apply to this Account.

CLUB ACCOUNTS

RATE INFORMATION: The dividend rates and APYs for these Accounts are set forth in the Schedule of Dividends, Service Charges and Fees. The dividend rate and APY may change every dividend period as determined by MCU Board of Directors.

COMPOUNDING AND CREDITING:

Holiday and Vacation Club Accounts: Dividends will be compounded monthly and will be credited on the last business day of each calendar month. For these types of Accounts, 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 follows the ending date of a dividend period, and for the example is February 1. If you close your Account before the dividends are credited, you will not receive accrued dividends.

Youth Club Accounts: Dividends will be compounded quarterly and will be credited on the last business day of each calendar quarter. For these types of Accounts, the dividend period is quarterly, for example, the beginning date of the first dividend paid on the calendar year is January 1 and the ending date of such dividend period is March 31. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period, and for the example is April 1. If you close your Account before dividends are credited, you will not receive accrued dividends.

MINIMUM BALANCE REQUIREMENTS - HOLIDAY OR VACATION CLUB ACCOUNT: The minimum balance required to open a Holiday or Vacation Club Account is $5.00. You must maintain an average daily balance of at least $500.00 during any calendar month in one or a combination of all of your MCU deposit accounts (under the same root account number) to avoid a Minimum Balance Charge (please see Schedule of Dividends, Service Charges and Fees for reasons under which the Minimum Balance Charge will be waived).

MINIMUM BALANCE REQUIREMENTS - YOUTH CLUB ACCOUNTS: The minimum balance required to open a Youth Club Account is $10.00. The Minimum Balance Charge does not apply to these Accounts.

BALANCE COMPUTATION METHOD: 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.

FEES AND CHARGES: See Schedule of Dividends, Service Charges and Fees on pages 3-4; 6- 8.

ACCRUAL OF DIVIDENDS ON NON-CASH ITEMS: Dividends will begin to accrue on the business day you deposit non-cash items to your Account (e.g., checks).

TRANSACTION LIMITATIONS: On Holiday and Vacation Club Accounts, only two withdrawals prior to the end of the applicable yearly cycle will be permitted and the second of these withdrawals must consist of all monies in the Account. For Youth Club Accounts, you may not make more than six withdrawals or transfers to another MCU account of yours or to a third party by means of a pre-authorized or automatic transfer or telephonic order or instruction (including Touch Tone Teller and home banking transfers and transfers made by check, draft, debit card, or similar order to a third party) during any calendar month.

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

REV. 06/13/19

ACCOUNT AGREEMENT AND RULES AND REGULATIONS FOR BASIC SHARE DRAFT ACCOUNT (the “Agreement”)

Dear Member,

This agreement contains the rules and regulations which will govern your Basic Share Draft Account (the “Account”) with Municipal Credit Union (“MCU”) and certain mandated disclosures (the “Agreement”). The Account is specifically structured to comply with Section 14-f of the New York State Banking Law and Part 9 of the General Regulations of the Superintendent of the New York State Department of Financial Services.

THE SECTION REGULATING “DISPUTE RESOLUTION; BINDING ARBITRATION CLAUSE; JURY TRIAL WAIVER; CLASS ACTION WAIVER” ON PAGES 5-7 OF THIS AGREEMENT REQUIRES CLAIMS TO BE ARBITRATED. ARBITRATION REPLACES THE RIGHT TO RESOLVE DISPUTES IN COURT, INCLUDING THE RIGHT TO PARTICIPATE IN A CLASS ACTION OR SIMILAR PROCEEDING.

In addition to these rules and regulations, your Account will be subject to MCU’s by-laws and Member Code of Conduct Policy, and all applicable federal, state and local laws, rules and regulations, as now in effect and as from time to time amended.

The Schedule of Dividends, Service Charges and Fees for all MCU accounts is also incorporated as part of this Agreement and will apply to your Account except as limited, amended or revised below.

RULES AND REGULATIONS

MEMBERSHIP ELIGIBILITY: To be eligible for membership with MCU, you must satisfy the eligibility requirements set forth in MCU’s bylaws. You must have and maintain an active MCU Regular Share Account with a minimum $5.00 share to be a member in good standing. You may be allowed to withdraw the last $5.00 share in your Account, provided that: (i) you give MCU 30 day written notice to Municipal Credit Union, P.O. Box 3205, Church Street Station, New York, NY 10008-3205, Attention: Research Dept. or send a fax to 212-416-7051, Attention: Research Dept., and (ii) you replenish the Account with $5.00 within six (6) months from the date of the withdrawal. MCU will deduct and transfer the $5.00 share into your Regular Share Account, from the $25.00 minimum deposit required to open your Basic Share Draft Account, as indicated in the disclosures below. You authorize us to review your Account, credit and employment history, and to obtain reports from third parties, including consumer reporting agencies, to verify your eligibility for membership and any Accounts or services that you may request.

GENERAL ACCOUNT REQUIREMENTS: To open and maintain the Account, in addition to the requirement set forth below concerning recurring payments, you must be a resident of New York State and not otherwise maintain another transaction account either at the MCU or at another financial institution. If you have other transaction accounts, you may continue to maintain these accounts for a reasonable period of time which shall not exceed sixty (60) days from the date that this Account is opened. The term transaction account means a demand deposit account, negotiable order of withdrawal account, checking account, share draft account or similar account used primarily for personal, family or household purposes.

DEPOSITS: Deposits may be made at any time in person, by mail, via payroll deductions or electronic funds transfer. However, as a condition for opening and maintaining the Account, you will be required to have any recurring payments you are now receiving or eligible to receive (such as, but not limited to, social security, wage or pension payments) directly deposited into the Account. This condition will be waived if direct deposit services are not available to you.

15 WITHDRAWALS – GENERALLY: MCU may refuse to permit withdrawals under certain circumstances, for example: (a) the withdrawal consists of funds deposited in the form of a check, draft or other payment instrument which has not been on deposit for the a ppropriate periods set forth in MCU’s Funds Availability Schedule; (b) there exists a dispute about the Account; (c) the funds sought to be withdrawn are pledged as collateral for a debt; (d) the withdrawal consists of money MCU has credited towards an overdue debt you to owe it; (e) the funds sought to be withdrawn have been ordered, restrained or transferred to a creditor other than MCU; or (f) proper documents or identification have not been presented.

PERIODIC STATEMENTS: You will receive monthly statements for this Account.

TRANSFERABILITY & ASSIGNMENT: Shares are transferable only to qualified members and in accordance with procedures approved by Municipal MCU. No Account may be assigned without MCU’s prior written consent. Any transfer or assignment of an Account remains subject to our security interest and right to set-off, as applicable.

RIGHT OF SETOFF: Except with regard to Individual Retirement Accounts (IRAs), Coverdell Education Savings Accounts (ESAs) and as otherwise prohibited by law, MCU has a right of set-off. This means MCU may set-off against your non-IRA and non-Coverdell ESA accounts any liabilities or obligations owed to MCU, except when prohibited by law or specifically disclaimed by loan agreement.

JOINT ACCOUNTS: If the Account is a joint account, you authorize MCU to recognize any of the signatures subscribed on the signature card in the payment of funds or the transaction of any business for this Account. The joint owners of the Account hereby agree with each other and with MCU that all sums now paid in on shares, or heretofore or hereafter paid in on shares, by any and all of said joint owners with all accumulations thereon, are and shall be owned by them jointly, with right to survivorship and be subject to the withdrawal or receipt of any of them, and payment to any of them or the survivor or survivors shall be valid and discharge MCU from any liability for such payment.

Each joint account owner agrees that he/she is jointly and separately liable for all liabilities, charges and other responsibilities which may arise in connection with the joint account or under this Agreement (including, but not limited to, any overdraft of the joint account), whether or not such liability or charge was caused by the actions of only one joint owner. Unless MCU is otherwise notified, in writing, by all owners of the Account, each joint owner has full and independent authority to exercise control over and to conduct transactio ns related to the joint account, as fully as if he/she were a sole owner, and without the consent of or notice to any other joint owner. Such powers include, without limitation, the authority to: (a) transfer funds, including funds payable solely or jointly to another joint owner; ( b) bind the joint owner to the terms and conditions of any agreement for services provided to or in connection with the joint account; (c) pledge all or any part of the funds in the joint account as security for debts owed to MCU whether individual, joint, or of a non-owner; and (d) receive notices, confirmations, statements, demands and other communications concerning this Agreement or the joint account.

IN TRUST FOR ACCOUNTS: This Account establishes another person or persons as beneficiary(ies) for an individual or joint account. The beneficiary receives the funds in the Account only upon the death of all account owners and cannot make any withdrawals or account changes before this time. During the lifetime of one or more account owners, the Account will be treated as an individual account or joint account, as applicable. At our discretion, MCU will accommodate a beneficiary name change. In that event, all account owners must sign all applicable account documents.

CONVENIENCE ACCOUNTS: If the Account is a convenience account within the meaning established under Section 678 of the New York Banking Law, it is understood and agreed that the initial deposit, and any additions or accruals thereto, are the property of the owner individually and, as such, only the owner may request that the Account be closed during his or her lifetime. Upon the death of the owner, the other named person on the Account shall have no right of survivorship in the Account. However, MCU may honor withdrawal requests from either the owner or the other named person. Prior to receiving written notice of either the owner’s death or the owner’s instructions not to pay any monies in the Account to the other named person on the Account, MCU may honor, and will not be responsible for, withdrawals by the other named person.

16 ABANDONED ACCOUNTS: If your Account becomes abandoned, the shares will be turned over to the applicable state agency responsible for unclaimed funds and your Account may be debited by MCU as permitted by law. Pursuant to New York State law, an account is considered abandoned if it is inactive for a period of three (3) consecutive years. Your Account will be considered inactive unless you do one of the following: (1) deposit or withdraw funds; or (2) submit something in writing showing us you are aware of the Account.

YOUR CONSENT TO RECEIVE CALLS AND TEXT MESSAGES: You agree that if you provide, or have provided, any telephone number, including a cell phone number(s), on your membership application, other MCU form or verbally, you are giving MCU your consent to contact you at such telephone number(s) to service your loan and/or deposit accounts, communicate the status of your Accounts or applications and/or collect any amounts owed to us; whether these numbers are dialed manually or by means of an automatic telephone dialing system. You further agree methods of contact may include use of pre-recorded or artificial voice messages. These phone calls/text messages could result in charges and fees imposed by your mobile service provider.

FRAUD AND IDENTITY THEFT RELATED CALLS AND TEXT MESSAGES: To help mitigate harm to you and your Accounts, we may contact you on any telephone number associated with your Accounts, including a wireless telephone number (i.e. cell phone number), to deliver to you any messages related to suspected or actual fraudulent activity on your Accounts, data security breaches or identity theft following a data breach, money transfers or any other exigent messages permitted by applicable law. These contacts will not contain any telemarketing, cross-marketing, solicitation, advertising, or debt collection message of any kind. The contacts will be concise and limited in frequency as required by law. You will have an opportunity to opt-out of such communications at the time of delivery. You further agree methods of contact may include use of pre-recorded or artificial voice messages, and/or use of an automatic dialing device.

You will receive notice of MCU’s crediting of a funds transfer to any of your MCU account(s) through the regular periodic statement MCU provides for such Account(s).

MCU is under no obligation to accept or act upon a fund transfer order.

Unless specified otherwise, all pre-authorized funds transfers to third parties shall be executed as of the last day of each calendar month.

17 ORDER CHECKS AND DEBITS ARE PAID: The order in which transactions are posted to and paid from your Account depends on the type, timing and source of a particular transaction; however, MCU’s general policy is that transactions are to be posted to your Account in the order in which they are received. Posting orders also vary based on the method used by MCU to process a transaction. Certain transactions are posted to your Account in real time on the business day during which they are received. These include debit card and ATM withdrawal transactions. Other transactions are processed in “batches” at scheduled times during each business day. The posting order for transactions that are batch-processed varies by the type and source of the transaction. The types of transactions that are batch- processed and MCU’s methods for posting these transactions to your Account are summarized in the chart below. MCU may modify its posting processes at any time and in its sole discretion, including by establishing different processing orders for different types of transactions.

Transactions Posted in Batches How Batch Payments Approximate Posting Time are Posted (Each Business Day; New York Local Time)

Checks presented for payment (withdrawal from your account) by In ascending order by 7:00 AM other financial institutions through the Federal Reserve System check serial number 3:00 PM 5:00 PM Checks deposited at MCU branches and ATMs In ascending order by 6:00 PM check serial number Pre-authorized electronic withdrawals (including automated In the order they are 3:00 PM clearinghouse (“ACH”) transactions, checks converted to electronic received from the 5:00 PM payments), and scheduled bill payment transactions network provider

BLANK CHECKS: Only blank checks (share drafts) and other methods approved by MCU may be used to withdraw funds from the Account.

TRUNCATION AND IMAGING: MCU uses a truncated check (share draft) processing system which utilizes the efficiencies of the Federal Check 21 law. In this system, the checks you write will be converted into images during the check collections and ret urn process and then forwarded electronically to MCU for payment. The bank or other entity which converted the original paper check into an image will usually retain the paper check for a short period and then destroy it. MCU will retain a copy of the check image for a period of at least seven (7) years. You may opt to have copies of your checks sent along with your periodic statements for a fee (see the Schedule of Dividends, Service Charges and Fees for details). Photocopies of individual checks will be provided upon request and applicable fees for providing you with the same will be automatically debited against your Account.

In processing your checks electronically, MCU will be relying on the information encoded at the bottom of the checks by the bank or other entity which converted the paper check into an image. That means we may not examine individual items to verify whether the item was encoded, signed or endorsed correctly. You agree that MCU does not fail to exercise reasonable care solely by utilizing this automated process and you agree not to hold MCU liable for errors that result from processing a check based on the information received from the converting institution.

TERMINATION OF ACCOUNT: MCU reserves the right to close your Account any time by mailing you notice of the same. MCU is not liable for refusing to pay any share draft or check presented after the Account is closed.

18 notice mailed to you at the most recent address shown for you on our records. Notice to one joint account owner is notice to all joint account owners.

APPLICABLE LAW: This Agreement shall be governed and controlled by and enforced in accordance with New York State laws.

DISPUTE RESOLUTION; BINDING ARBITRATION CLAUSE; JURY TRIAL WAIVER; CLASS ACTION WAIVER:

Many concerns can be resolved by calling MCU at (212) 693-4900 or writing to us at the following mailing address:

Municipal Credit Union Attn: Legal Department 22 Cortlandt Street, 27th Floor New York, NY 10007

If a dispute cannot be resolved informally, the terms below explain how claims (whether by you against MCU, or by MCU against you) will be resolved.

A. Definitions. “Claim” means any current or future claim, dispute or controversy relating in any way to this Agreement or your Account, except for: (i) claims relating to the validity, enforceability or scope of the arbitration provision set forth in section D below; (ii) claims relating to consumer credit transactions secured by a dwelling; (iii) claims covered under the Military Lending Act; and (iv) individual claims before courts having jurisdiction up to $ 25,000. The sole forum for these actions brought by the member or MCU, arising out of or related to this Agreement, whether such actions are in law or equity, shall be a court of competent ju risdiction in New York County, New York, unless otherwise required by law. These claims are excluded from this binding pre-dispute arbitration clause. “Claim” includes: (a) initial claims, counterclaims, cross claims and third-party claims; (b) claims based upon contract, tort, fraud, statute, regulation, common law and equity; (c) claims by or against any third party using or providing any product, service or benefit in connection with this Agreement or your Account; and (d) claims that arise from or relate to (i) this Agreement, (ii) your Account, (iii) advertisements, promotions, or statements related to this Agreement or your Account, (iv) your application to open an Account, or (v) consumer reporting or inquiries related to your Account.

“MCU,” “we” or “us” includes Municipal Credit Union’s present and future affiliates, their partners, officers, directors, employees and agents.

B. Binding Arbitration; Jury Trial Waiver; Class Action Waiver.

This Agreement contains a binding pre-dispute arbitration clause. The parties hereby agree as follows:

(a) ALL PARTIES TO THIS AGREEMENT ARE GIVING UP THE RIGHT TO SUE EACH OTHER IN COURT, INCLUDING THE RIGHT TO A TRIAL BY JURY, except as provided in Section A above and by the rules of the arbitration forum in which a claim is filed. (b) Arbitration awards are generally final and binding; a party’s ability to have a court reverse or modify an arbitration award is very limited. (c) The ability of the parties to obtain documents, witness statements and other discovery is generally more limited in arbit ration than in court proceedings. 19 (d) The arbitrators do not have to explain the reason(s) for their award unless, in an eligible case, a joint request for an explained decision has been submitted by all parties to the panel at least twenty (20) days prior to the first scheduled hearing date. (e) The rules of some arbitration forums may impose time limits for bringing a claim in arbitration. In some cases, a claim that is ineligible for arbitration may be brought in court. (f) The rules of the arbitration forum in which the claim is filed, and any amendments thereto, shall be incorporated into this binding arbitration clause. You agree to settle by arbitration any controversy between you and MCU arising out of or relating to this Agreement or your use of your Account, except as provided in Section A above. The arbitration will be conducted in accordance with the rules then in effect for the chosen arbitration forum, as described more fully in section C below. The award of the arbitrator or a majority of the arbitr ators, as the case may be, will be final, and judgment upon the award rendered may be entered in any court having jurisdiction. NO PERSON SHALL BRING A PUTATIVE OR CERTIFIED CLASS ACTION TO ARBITRATION. MCU shall not seek to enforce this pre- dispute arbitration clause against any person who, prior to the date of this Agreement: (i) has initiated in court a putative class action, or (ii) is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putativ e class action; until:

the class certification is denied;

the class is decertified; or

the other party is excluded from the class by the court.

Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under this Agreement except to the extent stated herein.

If you are a resident of Canada, you acknowledge and agree that to the extent your Agreement provides for arbitration, this provision is hereby amended to include the following at the end of the section: “The award rendered by the arbitrator or any judgment upon the award rendered by the arbitrator that has been entered by a federal or state court in the United States may be recognized and enforced b y any court of a province or territory of Canada having jurisdiction.”

C. Arbitration Procedures.

Claims will be resolved pursuant to the dispute resolution provisions hereunder and the selected organization’s rules in effe ct when the Claim is filed, except where those rules conflict with the terms hereunder. If the rules conflict, the terms of this Agreement will apply. Contact JAMS or AAA to begin an arbitration or for other information. Claims also may be referred to another arbitration orga nization, if you and we agree in writing, or to an arbitrator appointed pursuant to Section 5 of the Federal Arbitration Act, 9 U.S.C. §§ 1-16 (the “FAA”).

This arbitration provision is governed by the FAA. The arbitrator will apply applicable substantive law, statutes of limitati ons and privileges. The arbitrator will not apply any federal or state rules of civil procedure or evidence in matters relating to evidence or di scovery. Subject to the limitations hereunder, the arbitrator may award any relief available in court. Any award of punit ive damages will be subject to the same limitations as an award of punitive damages in court. The arbitration will be confidential, but you may notify any government authority of your Claim. Judgment upon any arbitration award may be entered in any court having jurisdiction. Arbitration hearings will take place in New York, NY or, upon your request, in the federal judicial district where you reside.

D. Survival and Severability of Dispute Resolution Provision. 20 The dispute resolution provisions described in the sections above, will survive the closing of your Account and the termination of any relationship between us, termination of this Agreement, any legal proceeding relating to your Account, any bankruptcy (as app licable) or receivership and any sale or assumption of this Agreement, your Account or any and all rights thereunder. In the case of a sale or assumption of this Agreement, your Account or any and all rights thereunder, the buyer will be bound by and may enforce the d ispute resolution provisions hereunder. If any portion of the dispute resolution provisions is deemed invalid or unenforceable, it will not invalidate the remaining provisions or any other terms of this Agreement.

Disclosures under Truth-In-Savings and Part 9 of the General Regulations of the Superintendent of the New York State Department of Financial Services

MINIMUM BALANCE TO OPEN THE ACCOUNT: The initial deposit amount required to open the Account is $25.00 ($5.00 of which will be transferred and maintained into your Regular Share Account).

MINIMUM BALANCE TO MAINTAIN THE ACCOUNT: The minimum average daily balance in any calendar month required to maintain the Account is $0.01.

DIVIDENDS: No dividends are earned or paid.

ADDITIONAL DEPOSIT AND WITHDRAWAL RULES: You may make an unlimited number of deposits without occurring any charge. There is no limit on the number of withdrawals or checks (drafts) you may draw against your Account. However, any such withdrawals and checks are subject to the service charges and fees set forth in the Schedule of Dividends, Service Charges an d Fees.

SERVICE CHARGES AND FEES: MONTHLY MAINTENANCE FEE: A $3.00 maintenance fee will be assessed for each month the Account is open. No portion of the Minimum Balance Charge applicable to combined account balances will be assessed against the Account as long as you do not ope n additional accounts at MCU, other than a Regular Share Account. EXCESSIVE WITHDRAWAL FEE: You will not be charged any fee for the first eight (8) withdrawal transactions you make during any calendar month. A $1.00 fee will be assessed each time you make a withdrawal transaction in excess of eight (8) withdrawa l transactions during any calendar month, to a maximum of $6.00 in such calendar month. A “withdrawal transaction” is defined as any withdrawal made by means of a withdrawal slip, check, draft, negotiable order of withdrawal, or through use of an electronic facility operated by MCU (ex. Proprietary ATM, Touch-Tone Teller withdrawals, online bill payments and transfers, point-of-sales transactions and ACH transactions). Withdrawals shall be deemed to be made when recorded on MCU’s books and not necessarily on the date you initiated the transaction.

However, you will be charged MCU’s standard fees (see the current Schedule of Dividends, Service Charges and Fees) for any transactions or inquiries you make by using your MCU debit card, at ATMs not operated by MCU, including withdrawals that are among the first eight (8) withdrawals you make in a calendar month.

NSF FEE: Each time an ACH debit request or bill payment you authorize, or check (share draft) you draw is presented and returned as unpayable for any reason, an NSF fee of $32.00 will be charged (see the current Schedule of Dividends, Service Charges and Fees).

CHECK IMAGE FEE: If you elect to obtain images of paid checks, a $2.50 fee will be assessed each month, unless you have a combined balance of $2,000.00 or more in all your MCU accounts (under the same root account number) as of the last day of the previous calendar month.

TRANSACTION LIMITATIONS: No transaction limitations apply to the Account. REV. 06/13/19 21 SHARE CERTIFICATE AGREEMENT

Dear Member,

This agreement contains the rules and regulations which will govern your Share Certificate Account (“Account”) with Municipal Credit Union (“MCU”) and certain mandated disclosures (the “Agreement”).

THE SECTION REGULATING “DISPUTE RESOLUTION; BINDING ARBITRATION CLAUSE; JURY TRIAL WAIVER; CLASS ACTION WAIVER” ON PAGES 4-7 OF THIS AGREEMENT REQUIRES CLAIMS TO BE ARBITRATED. ARBITRATION REPLACES THE RIGHT TO RESOLVE DISPUTES IN COURT, INCLUDING THE RIGHT TO PARTICIPATE IN A CLASS ACTION OR SIMILAR PROCEEDING. In addition to these rules and regulations, your Account will be subject to MCU’s by-laws and Member Code of Conduct Policy, and all applicable federal, state, and local laws, rules, and regulations, as now in effect and as from time to time amended.

The Schedule of Dividends, Service Charges and Fees for all MCU accounts is also incorporated as part of this Agreement.

RULES AND REGULATIONS APPLICABLE TO ALL SHARE CERTIFICATE ACCOUNTS

WITHDRAWALS: While withdrawals before the maturity date can only be made with MCU’s consent, it has been the past policy of MCU to allow withdrawals of both principal and accrued dividends prior to maturity, subject to the terms, conditions, and penalty provisions set forth in this Agreement. MCU reserves the right to require thirty (30) days’ advance written notice of any intended withdrawal. If a withdrawal of principal (including dividends earned during previous term(s)) is made before maturity, the entire amount in your Account must be withdrawn and the Account will be closed (except with regard to withdrawals from Coverdell Education Savings Accounts (ESAs) and post-age 59-1⁄2 withdrawals made from Individual Retirement Accounts (IRAs)). Additionally, MCU may refuse to permit withdrawal under certain circumstances, for example: (a) the withdrawal consists of funds deposited in the form of a check, draft, or other payment instrument which has not been on deposit for the appropriate periods set forth in the applicable Municipal Credit Union Funds Availability schedule; (b) there exists a dispute in the Account; (c) the funds sought to be withdrawn are pledged as collateral for a debt; (d) the withdrawal consists of money MCU has credited toward an overdue debt you owe to it; (e) the funds sought to be withdrawn have been ordered restrained or transferred to a creditor other than MCU, and (f) proper documents or identification have not been presented.

TRANSFERABILITY & ASSIGNMENT: Shares are transferable only to qualified members and in accordance with procedures approved by MCU. No Account may be assigned without

22 MCU’s prior written consent. Any transfer or assignment of an Account remains subject to our security interest and right to set-off, as applicable.

JOINT ACCOUNTS: If this Account is a joint account (not available for IRAs, Coverdell ESAs and Secured VISA Card Share Certificate Accounts), you authorize MCU to recognize any of the signatures subscribed on the Share Certificate Application in the payment of funds or the transaction of any business for this Account. The joint owners of this Account hereby agree with each other and with MCU that all sums now deposited, or heretofore or hereafter deposited, by any or all of the said joint owners with all accumulations thereon, are and shall be owned by them jointly, with right of survivorship and be subject to the withdrawal or receipt of any of them, and payment to any of them or the survivor or survivors shall be valid and discharge MCU from any liability for such payment.

CONVENIENCE ACCOUNTS: If an Account is a convenience account, within the meaning established under Section 678 of the New York Banking Law, it is understood and agreed that the initial deposit, and any additions or accruals thereto, are the property of the owner individually and, as such, only the owner may request that the Account be closed during his or her lifetime. Upon the death of the owner, the other named person on the Account shall have no right of survivorship in the Account. However, MCU may honor withdrawal requests from either the owner or the other named person. Prior to receiving written notice of either the owner’s death or the owner’s instructions not to pay any monies in this Account to the other named person on the Account, MCU may honor, and will not be responsible for, withdrawals by the other named person.

IN TRUST FOR ACCOUNTS: If this Account is an account held in trust (not available for IRAs and Coverdell ESAs, for which beneficiaries may be designated in a separate IRA/ESA Trust Agreement), it is understood and agreed that this is a voluntary and revocable trust and that upon your death, MCU may make payment or otherwise recognize or deal with the beneficiary(ies) you have named on the Share Certificate Application as the sole owner(s) of this Account. Until your death, MCU will maintain this Account in your ownership alone, and the amount at any time on deposit in this Account shall be for your exclusive use and not for the use of any beneficiary of the trust. At our discretion, MCU will accommodate a beneficiary name change. In that event, the individual account owner or any of the joint owners must sign all applicable account documents. You agree that any receipt made by yourself or by any beneficiary after your death, when any payment is made by MCU from the Account, shall be a complete release of all claims and liability to MCU.

CUSTODIAL (UNIFORM TRANSFERS TO MINORS ACT) ACCOUNTS: The funds in this Account are owned by the minor, who receives the funds as a permanent (irrevocable) gift. The Account is controlled by a custodian, who manages the Account for the minor’s benefit. MCU will act upon the custodian’s instructions. One (1) custodian and one (1) minor are allowed per Account. When the minor turns 21 years of age with regard to accounts established pursuant to N.Y. Uniform Transfers to Minors Act “UTMA,” the monies in this Account must be transferred to the minor. IRAs, Coverdell ESAs, Secured VISA Card Share Certificate Accounts and Regular Share Certificate Accounts pledged as security for installment loans may not be established as custodial (UTMA) accounts.

23 ABANDONED ACCOUNTS: If your Account becomes abandoned, the shares will be turned over to the applicable state agency responsible for unclaimed funds and your Account may be debited by MCU as permitted by law. Pursuant to New York State law, an account is considered abandoned if it is inactive for a period of three (3) consecutive years. Your Account will be considered inactive unless you do one of the following: (1) deposit or withdraw funds; or (2) submit something in writing showing us you are aware of the Account.

YOUR CONSENT TO RECEIVE CALLS AND TEXT MESSAGES: You agree that if you provide, or have provided, any telephone number(s), including a cell phone number, on your membership application, other MCU form or verbally, you are giving MCU your consent to contact you at such telephone number(s) to service your loan and/or deposit accounts, communicate the status of your Accounts or applications and/or collect any amounts owed to us; whether these numbers are dialed manually or by means of an automatic telephone dialing system. You further agree methods of contact may include use of pre-recorded or artificial voice messages. These phone calls/text messages could result in charges and fees imposed by your mobile service provider.

You may revoke this consent at any time by notifying MCU by letter addressed to: Municipal Credit Union, P.O. Box 3205 CSS, New York NY 10008-3205, Attn: Collections (Opt-Out); or by any other reasonable means. You represent and agree that you are the subscriber or customary user with respect to the cell phone number(s) provided and that you have the authority to give this consent. You agree to promptly notify us of any change to the telephone number(s) which you have provided to us. FRAUD AND IDENTITY THEFT RELATED CALLS AND TEXT MESSAGES: To help mitigate harm to you and your Accounts, we may contact you on any telephone number associated with your Accounts, including a wireless telephone number (i.e. cell phone number), to deliver to you any messages related to suspected or actual fraudulent activity on your Accounts, data security breaches or identity theft following a data breach, money transfers or any other exigent messages permitted by applicable law. These contacts will not contain any telemarketing, cross-marketing, solicitation, advertising, or debt collection message of any kind. The contacts will be concise and limited in frequency as required by law. You will have an opportunity to opt-out of such communications at the time of delivery. You further agree methods of contact may include use of pre-recorded or artificial voice messages, and/or use of an automatic dialing device.

WITHDRAWAL PENALTIES: Except for Secured Visa Share Certificates and IRAs post-age 59 ½, we may impose a penalty if you withdraw any of the principal before the maturity date. Only dividends paid during the Account term may be withdrawn without penalty. If a withdrawal of principal (including dividends earned during previous term(s)) takes place before maturity, an amount equal to ninety (90) days’ dividends on the amount of principal withdrawn from Accounts with terms of less than one year, or an amount equal to one hundred eighty (180) days’ dividends on the amount of principal withdrawn from Accounts with terms of one year or more (calculated using the dividend rate then in effect on the Account), must be forfeited. This penalty may result in the loss of principal. This penalty may not be applied if the individual in whose name the Account was opened dies or is declared legally incompetent.

24 NOTICE OF MATURITY AND RENEWALS: The Account will mature on the date disclosed to you at page 9 below. A notice reminding you of when the Account will mature will be mailed to you at least twenty (20) calendar days prior to the maturity date. Whether or not you receive such notice, the Account will be renewed at maturity, unless you give MCU other written instructions prior to or within ten (10) business days after maturity. The Account will be renewed automatically each time it matures for the same term as the existing Account term (for Accounts with terms of 36 months or less) or for a term of 36 months (for Accounts with terms greater than 36 months), unless all accountholders are deceased (in which event the Account will be renewed for the shortest term offered by MCU). When it renews, the funds will earn the annual dividend rate and APY in effect on the date of renewal and the Account will be subject to the then applicable terms and conditions for such Accounts. If you choose not to have the Account automatically renewed upon maturity, you must instruct MCU in writing as to how you wish to have the funds handled.

RIGHT OF SETOFF: Except with regard to IRAs, Coverdell ESAs, and as otherwise prohibited by law, MCU has the right of setoff. This means MCU may set off against your non-IRA and non- Coverdell ESA accounts any liabilities or obligations owed by you to MCU, except as prohibited by law or specifically disclaimed by loan agreement.

APPLICABLE LAW: This Agreement shall be governed and controlled by and enforced in accordance with New York State laws.

DISPUTE RESOLUTION; BINDING ARBITRATION CLAUSE; JURY TRIAL WAIVER; CLASS ACTION WAIVER:

Many concerns can be resolved by calling MCU at (212) 693-4900 or writing to us at the following mailing address:

Municipal Credit Union Attn: Legal Department 22 Cortlandt Street, 27th Floor New York, NY 10007

If a dispute cannot be resolved informally, the terms below explain how claims (whether by you against MCU, or by MCU against you) will be resolved.

A. Definitions.

“Claim” means any current or future claim, dispute or controversy relating in any way to this Agreement or your Account, except for:

25 (i) claims relating to the validity, enforceability or scope of the arbitration provision set forth in section D below;

(ii) claims relating to consumer credit transactions secured by a dwelling;

(iii) claims covered under the Military Lending Act; and

These claims are excluded from this binding pre-dispute arbitration clause.

“MCU,” “we” or “us” includes Municipal Credit Union’s present and future affiliates, their partners, officers, directors, employees and agents.

B. Binding Arbitration; Jury Trial waiver; Class Action Waiver.

This Agreement contains a binding pre-dispute arbitration clause. The parties hereby agree as follows:

(b) Arbitration awards are generally final and binding; a party’s ability to have a court reverse or modify an arbitration award is very limited.

(c) The ability of the parties to obtain documents, witness statements and other discovery is generally more limited in arbitration than in court proceedings.

(e) The rules of some arbitration forums may impose time limits for bringing a claim in arbitration. In some cases, a claim that is ineligible for arbitration may be brought in court.

26 (f) The rules of the arbitration forum in which the claim is filed, and any amendments thereto, shall be incorporated into this binding arbitration clause.

the class certification is denied;

the class is decertified; or

the other party is excluded from the class by the court.

Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under this Agreement except to the extent stated herein.

C. Arbitration Procedures.

27 limitations hereunder, the arbitrator may award any relief available in court. Any award of punitive damages will be subject to the same limitations as an award of punitive damages in court. The arbitration will be confidential, but you may notify any government authority of your Claim. Judgment upon any arbitration award may be entered in any court having jurisdiction. Arbitration hearings will take place in New York, NY or, upon your request, in the federal judicial district where you reside.

D. Survival and Severability of Dispute Resolution Provision.

ADDITIONAL RULES FOR INDIVIDUAL RETIREMENT ACCOUNTS (IRAs) AND COVERDELL EDUCATION SAVINGS ACCOUNTS (ESAs)

DEPOSITS: The minimum balance required to open and maintain a Fixed-Rate IRA or Coverdell ESA is $500.00. Thereafter you may make no additional deposits to this Account prior to the maturity of the certificate. Instead, new accounts may be opened to make additional deposits. The minimum balance required to open and maintain a Variable-Rate IRA or Coverdell ESA is $100.00. Thereafter, you may make additional deposits to a Variable Rate Share Certificate Account during the term of the Account without effect on the date of maturity of the Account. If you wish, deposits can be made by automatic payroll deductions or electronic funds transfer. All contributions made by payroll deduction or electronic funds transfer will be reported to the Internal Revenue Service as having been contributed for the calendar year during which they were actually received by MCU.

IRS WITHDRAWAL PENALTIES: Depending on the type of Individual Retirement Account you have established, the age at which you have made the withdrawal, and the reason for which you have made the withdrawal, a withdrawal from your IRA may be included in your gross income for tax purposes. In addition, a tax penalty of 10% of the amount withdrawn may be assessed you by the IRS. Please refer to our IRA plan disclosure for greater details. This section does not apply to Coverdell ESAs.

ADDITIONAL RULES FOR REGULAR SHARE CERTIFICATE ACCOUNTS

DEPOSITS: The minimum balance required to open and maintain this Account is $500.00 ($250.00 for 18-month Fixed Rate Deposit Plus Accounts). Thereafter, except with regard to 18- month Fixed Rate Deposit Plus Accounts (see below), you may make no additional deposits to this Account prior to the maturity of the certificate. Instead, new Accounts may be opened to make additional deposits.

28 ACCOUNTS PLEDGED AS SECURITY FOR INSTALLMENT LOANS: If a Share Certificate Account is pledged as security for an installment loan, withdrawals of principal before the maturity date can be made only with MCU’s consent. If MCU consents to a withdrawal, MCU will first apply the amount on deposit in the Share Certificate Account towards the payment of all amounts you owe on the installment loan account or other MCU accounts, including interest, fees and costs, and collect any applicable early withdrawal penalty, before paying out any excess proceeds to you. No partial withdrawals from this Account are permitted (except with regard to currently earned dividends, which may be automatically paid to another eligible Account, if you so elect). If you elect not to renew this Account while a balance is still outstanding on the installment loan, or if you become delinquent or default on the installment loan at any time, MCU may apply the balance on deposit in this Account towards the payment of all amounts you owe, including interest, costs and fees, on the installment loan or other MCU account, and collect any applicable early withdrawal penalty, before crediting the excess to your Share Account.

ADDITIONAL RULES FOR 18-MONTH FIXED RATE DEPOSIT PLUS REGULAR SHARE CERTIFICATE ACCOUNTS

DEPOSITS: With regard to 18-month Fixed Rate Deposit Plus Accounts, you may make additional deposits during the term of the Account without effect on the date of maturity of the Account. However, additional deposits to these Accounts may only be made by electronic funds transfer or automatic payroll deduction.

ADDITIONAL RULES FOR SECURED VISA CARD SHARE CERTIFICATE ACCOUNTS

DEPOSITS: The minimum balance required to open and maintain this Account is $300.00. Further deposits may only be made to this Account by mail addressed to: Municipal Credit Union, Card Services Department, 22 Cortlandt Street, New York, N.Y. 10007.

WITHDRAWALS: Withdrawals before the maturity date can be made only with MCU’s consent. If MCU consents to a withdrawal, you will be required to close your VISA account and return all cards issued in connection with your VISA account to MCU. In addition, MCU will first apply the amounts on deposit in this certificate Account towards the payment of all amounts you owe on your MCU VISA card account, including interest, fees and costs, and will collect any applicable early withdrawal penalty before paying out any excess proceeds from a withdrawal to you. No partial withdrawals from this Account are permitted. If this Account is not renewed, MCU will first apply the balance on deposit in this Account towards the payment of all amounts you owe, including interest, fees and costs, on your MCU VISA card account or other MCU account, before paying out any excess proceeds to you.

COLLATERAL AND OFFSET: This Account is pledged as collateral for all sums due to MCU under your MCU VISA card account.

TRUTH-IN-SAVINGS DISCLOSURE

For share certificate no. ______

The dividend rate is ______with annual APY of ______

29 Your share certificate will mature on ______

The disclosed APY is based on an assumption that dividends will remain in the Account until maturity. A withdrawal will reduce earnings.

INDIVIDUAL RETIREMENT ACCOUNTS (IRAs) AND COVERDELL EDUCATION SAVINGS ACCOUNTS (ESAs)

RATE INFORMATION: For Fixed-Rate IRAs and Coverdell ESAs, you will be paid the disclosed rate until maturity. For variable rate IRAs and Coverdell ESAs, you will be paid the disclosed rate until the end of the calendar month in which your Account was opened. Thereafter, the dividend rate and APY may change every month as determined by MCU Board of Directors.

DIVIDEND COMPOUNDING AND CREDITING: Dividends will be compounded monthly and will be credited monthly. For Fixed-Rate IRAs and Coverdell ESAs, dividends will be credited on the monthly anniversary date of the opening/renewal of your Account. For variable rate IRAs and Coverdell ESAs, dividends will be credited on the last day of each calendar month and on the maturity date if the maturity date falls on a date prior to the end of the calendar month.

If you close your Account before dividends are credited, you will not receive accrued dividends.

MINIMUM BALANCE REQUIREMENTS: The minimum balance required to open a fixed- rate Account is $500.00. The minimum balance required to open a variable-rate Account is $100.00.

BALANCE COMPUTATION METHOD: Dividends are calculated by the daily balance method, which applies a daily periodic rate to the principal in your Account each day.

ACCRUAL OF DIVIDENDS OF NON-CASH ITEMS: Dividends will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your Account.

FEES AND CHARGES: See Schedule of Dividends, Service Charges and Fees on pages 6-8.

TRANSACTION LIMITATIONS: After a fixed-rate Account is opened, you may not make deposits into the Account until the maturity date stated on the certificate. You may make additional deposits into variable-rate Accounts, including deposits by automatic payroll deductions or electronic funds transfer.

EARLY WITHDRAWAL PENALTY: We may impose a penalty if you withdraw any of the principal (including dividends earned during previous term(s)) in your Account before the maturity date. The penalty will be an amount equal to ninety (90) days’ dividends on the amount of principal withdrawn from Accounts with terms of less than one year, or an amount equal to one hundred eighty (180) days’ dividends on the amount of principal withdrawn from Accounts with terms of one year or more (calculated using the dividend rate then in effect on the Account). This penalty may result in the loss of principal. This penalty may not be applied if the individual in whose name the Account was opened dies or is declared legally incompetent.

30 RENEWAL POLICIES: Your certificate Account will automatically renew at maturity. You will have a grace period of ten (10) business days after the maturity date to withdraw the funds in the Account without being charged an early withdrawal penalty.

REGULAR SHARE CERTIFICATE ACCOUNTS

RATE INFORMATION: You will be paid the disclosed rate until maturity.

DIVIDEND COMPOUNDING AND CREDITING: Dividends will be compounded monthly and will be credited monthly, on the monthly anniversary date of the opening/renewal of your Account. If you close your Account before dividends are credited, you will not receive accrued dividends.

MINIMUM BALANCE REQUIREMENTS: The minimum balance required to open and maintain this Account is $500.00 ($250.00 for 18-month Fixed Rate Deposit Plus Accounts).

BALANCE COMPUTATION METHOD: Dividends are calculated by the daily balance method, which applies a daily periodic rate to the principal in your Account each day.

ACCRUAL OF DIVIDENDS ON NON-CASH ITEMS: Dividends will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your Account.

FEES AND CHARGES: See Schedule of Dividends, Service Charges and Fees on pages 6-8.

TRANSACTION LIMITATIONS: Except with regard to 18-month Fixed Rate Deposit Plus Accounts, after the Account is opened, you may not make deposits into the Account until the maturity date stated on the certificate. With regard to 18-month Fixed Rate Deposit Plus Accounts, you may make additional deposits, but any additional deposits must be made by electronic funds transfer or automatic payroll deduction.

RENEWAL POLICIES: Your certificate will automatically renew at maturity. You will have a grace period of ten (10) business days after the maturity date to withdraw the funds in the Account without being charged an early withdrawal penalty.

SECURED VISA SHARE CERTIFICATE ACCOUNTS

RATE INFORMATION: You will be paid the disclosed rate until maturity.

31 DIVIDEND COMPOUNDING AND CREDITING: Dividends will be compounded monthly and will be credited monthly, on the monthly anniversary date of the opening/renewal of your Account. If you close your Account before dividends are credited, you will not receive accrued dividends.

MINIMUM BALANCE REQUIREMENTS: The minimum balance required to open and maintain this Account is $300.00.

ACCRUAL OF DIVIDENDS ON NON-CASH ITEMS: Dividends will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your Account.

FEES AND CHARGES: See Schedule of Dividends, Service Charges and Fees on pages 6-8.

TRANSACTION LIMITATIONS: After the Account is opened, you may only make additional deposits to this Account by mail addressed to: Municipal Credit Union, Card Services Department, 22 Cortlandt Street, New York, N.Y. 10007.

You may not make any withdrawals from your Account before maturity unless we agree at the time you request the withdrawal. MCU will first apply the amounts in your certificate Account towards the payment of all amounts you owe on your MCU VISA Card account or other MCU accounts, including interest, costs and fees, and will collect any applicable early withdrawal penalty, before paying out any excess proceeds from a withdrawal to you.

RENEWAL POLICIES: Your Account will automatically renew at maturity, unless either you or MCU elects to close this Account. You will have a grace period of ten (10) business days after the maturity date to withdraw the funds in the Account without being charged an early withdrawal penalty.

REV.06/13/19

32 SCHEDULE OF DIVIDENDS, SERVICE CHARGES AND FEES

(As of April 1, 2021 and every dividend declaration date thereafter unless otherwise specified below or hereafter amended).

This Schedule of Dividends, Service Charges and Fees sets forth certain conditions, rates, fees and charges applicable to Regular Share Accounts, FasTrack Checking (share draft) Accounts, Basic Share Draft Accounts, Money Market Accounts, Share Certificate Accounts and Club Accounts (Holiday Club, Vacation Club, Youth Custodial and Youth Convenience Accounts), at the Municipal Credit Union (“MCU”). This Schedule is incorporated as part of your account agreement with MCU and may be amended at any time. Notice of changes will be provided as required by applicable law.

REGULAR (PRIMARY) SHARE ACCOUNTS

DIVIDENDS: As of the last dividend declaration date, if your average daily balance was:

 $50,000 or more: the dividend rate paid on the entire balance in your account was 0.05%, with an APY of 0.05%.

 $4,000 or more, but less than $50,000: the dividend rate paid on the entire balance in your account was 0.05%, with an APY of 0.05%.

 $1,000 or more, but less than $4,000: the dividend rate paid on the entire balance in your account was 0.01%, with an APY of 0.01%.

 $500 or more, but less than $1,000: the dividend rate paid on the entire balance in your account was 0.01%, with an APY of 0.01%

Dividends are compounded quarterly and are credited to this account the last business day of each quarter.

SERVICE CHARGES AND FEES:

Minimum Balance Charge: At the end of any calendar month in which you do not maintain an average daily balance of at least $500.00, in one or a combination of your MCU deposit accounts (under the same root account number), your Regular Share Account will be assessed a Minimum Balance Charge of $9.00. The average daily balance is calculated by adding the balances in your MCU deposit accounts (under the same root account number) at the end of each day of the month, and dividing that figure by the number of days in the month. This fee will be initially and principally assessed against your Regular Share Account. However, if there are inadequate funds in your Regular Share Account, the fee may be offset and collected against available balances in your MCU deposit accounts in the following order: FasTrack Checking Account, Holiday Club Account, Vacation Club Account and Money Market Account. Deposits and withdrawals shall be deemed to be made when recorded on MCU’s books and not necessarily on the date you initiated the transaction.

33 This Minimum Balance Charge will be waived for the following reasons:

 If you have an outstanding balance on (i) a secured loan; and/or (ii) an active secured VISA Card Line of Credit; and/or (iii) an active Home Equity Line of Credit; and maintain a minimum average daily balance of $5.00 in combined balances.

 If you have an outstanding balance on (i) an unsecured loan (excluding Overdraft Line of Credit and Step Line of Credit accounts) and/or (ii) an active unsecured VISA Card Line of Credit; and maintain a minimum average daily balance of $250.00 in combined balances.

 If you are 62 years of age or older, or 21 years of age or younger (in the case of a joint account, eligibility will be based on the age of the primary account holder).

 If your Regular Share Account has been open less than one full year.

 If you opened your Regular Share Account under the Young Executive program and the primary account holder is under the age of 25.

 If your Regular Share Account was opened under (or later converted to) the MCU2 program within the last five years and the primary account holder is under the age of 25.

NSF Fee: Each time an ACH debit request or bill payment you authorize, or check (share draft) you draw, is presented and returned as unpayable for any reason, a $32.00 service charge will be assessed.

Setoff Service Charge: Each time MCU exercises its right of setoff and transfers shares from this account to a delinquent account, a $10.00 service charge will be assessed.

Please refer to “OTHER FEES AND CHARGES” below for other applicable fees.

FASTRACK CHECKING ACCOUNTS

DIVIDENDS: No dividends are earned or paid.

SERVICE CHARGES AND FEES:

34 This Minimum Balance Charge will be waived for the following reasons:

 If you are 62 years of age or older, or 21 years of age or younger (in the case of a joint account, eligibility will be based on the age of the primary account holder).

 If your Regular Share Account has been open less than one full year.

 If you opened your Regular Share Account under the Young Executive program and the primary account holder is under the age of 25.

 If your Regular Share Account was opened under (or later converted to) the MCU2 program within the last five years and the primary account holder is under the age of 25.

Check Image Fee: If you elect to obtain images of paid checks, a $2.50 fee will be assessed each month, unless you have a combined balance of $2,000.00 or more in all your MCU accounts (under the same root account number) as of the last day of the previous calendar month.

Please refer to “OTHER FEES AND CHARGES” below for other applicable fees.

HOLIDAY AND VACATION CLUB ACCOUNTS

DIVIDENDS: As of the last dividend declaration date, the dividend rate paid on the entire average daily balance in this account was 0.05%, with an APY of 0.05%.

Dividends are compounded monthly and are credited to this account on the last business day of each month.

SERVICE CHARGES AND FEES:

35 Account, Vacation Club Account and Money Market Account. Deposits and withdrawals shall be deemed to be made when recorded on MCU’s books and not necessarily on the date you initiated the transaction.

This Minimum Balance Charge will be waived for the following reasons:

 If you are 62 years of age or older, or 21 years of age or younger (in the case of a joint account, eligibility will be based on the age of the primary account holder).

 If your Regular Share Account has been open less than one full year.

 If you opened your Regular Share Account under the Young Executive program and the primary account holder is under the age of 25.

 If your Regular Share Account was opened under (or later converted to) the MCU2 program within the last five years and the primary account holder is under the age of 25.

Please refer to “OTHER FEES AND CHARGES” below for other applicable fees.

YOUTH CUSTODIAL AND CONVENIENCE CLUB ACCOUNTS

DIVIDENDS: As of the last dividend declaration date, the dividend rate paid on the entire average daily balance in this account was 0.05%, with an APY of 0.05%.

Dividends are compounded quarterly and are credited to this account on the last business day of each quarter.

SERVICE CHARGES AND FEES: The Minimum Balance Charge does not apply to these accounts. Please refer to “OTHER FEES AND CHARGES” below for applicable fees.

MONEY MARKET ACCOUNTS

DIVIDENDS: As of the last dividend declaration date, if your average daily balance was:

 $50,000.00 or more: the dividend rate paid on the entire balance in your account was 0.15%, with an APY of 0.15%.

 more than $24,999.99, but less than $50,000.00: the dividend rate paid on the entire balance in your account was 0.10%, with an APY of 0.10%.

 more than $9,999.99, but less than $25,000.00: the dividend rate paid on the entire balance in your account was 0.06%, with an APY of 0.06%.

36  more than $2,499.99, but less than $10,000.00: the dividend rate paid on the entire balance in your account was 0.06%, with an APY of 0.06%.

The dividend rates and APYs may change weekly as determined by MCU. Dividends are compounded monthly and are credited to this account on the last business day of the calendar month.

SERVICE CHARGES AND FEES:

This Minimum Balance Charge will be waived for the following reasons:

 If you are 62 years of age or older, or 21 years of age or younger (in the case of a joint account, eligibility will be based on the age of the primary account holder).

 If your Regular Share Account has been open less than one full year.

 If you opened your Regular Share Account under the Young Executive program and the primary account holder is under the age of 25.

 If your Regular Share Account was opened under (or later converted to) the MCU2 program within the last five years and the primary account holder is under the age of 25.

Low Balance Fee: If the average daily balance in this account is less than $2,500.00 in any monthly statement cycle, a $5.00 fee will be assessed.

NSF Fee: Each time an ACH debit request or bill payment you authorize, or check (share draft) you draw is presented and returned as unpayable for any reason, a $32.00 service charge will be assessed.

37 Check Image Fee: If you elect to obtain images of paid checks, a $2.50 fee will be assessed each month, unless you have a combined balance of $2,000.00 or more in all your MCU accounts (under the same root account number) as of the last day of the previous calendar month.

Please refer to “OTHER FEES AND CHARGES” below for other applicable fees.

SHARE CERTIFICATE ACCOUNTS

DIVIDENDS: The dividend rate and APY on these accounts are established and separately disclosed in the Share Certificate Agreement at the time the account is opened.

Dividends will be compounded monthly and will be credited monthly, on the monthly anniversary date of the opening of your account. If you close your account before dividends are credited, you will not receive accrued dividends.

SERVICE CHARGES AND FEES: Please refer to “OTHER FEES AND CHARGES” below for applicable fees. Any applicable fee for these accounts will be initially and principally assessed against your Regular Share Account. However, if there are inadequate funds in your Regular Share Account, the fee will be charged to your FasTrack Checking Account, Youth Custodial/Convenience Account, Holiday/Vacation Club Account, Money Market Account, or Share Certificate Account.

WITHDRAWAL PENALTIES: We may impose a penalty if you withdraw any of the principal (including dividends earned during previous term(s)) in your account before the maturity date. The penalty will equal ninety (90) days dividends on the principal amount withdrawn from accounts with terms of less than one year, and one hundred eighty (180) days dividends on the principal amount withdrawn from accounts with terms of one year or more.

MCU CASH CONNECTION CARD AND DEBIT CARD

SERVICE CHARGES AND FEES: There is no fee or charge for cash machine transactions or inquiries you make at ATMs or kiosks owned by MCU (proprietary ATMs). There is also no fee or charge for Point of Sale (POS) or Debit Card purchase transactions you make at participating merchants. In addition, there is no charge for cash machine transactions made at ATMs not owned by MCU (non-proprietary ATMs) if you have a combined balance of $2,000.00 or more in one or a combination of your MCU deposit accounts (under the same root account number) after the completion of these transactions. However, if you have a combined balance of less than $2,000.00 on deposit after the completion of these transactions, the following fees apply:

 Foreign ATM Withdrawal Fee: (for withdrawals made at ATMs not owned by MCU): $3.00.

 Foreign ATM Inquiry/Transfer Fee: (for balance inquiries or transfers made at ATMs not owned by MCU): $1.00.

If you initiate a transaction from an ATM not owned by MCU, a separate fee may be imposed by the ATM operator or by any regional or local network utilized to effectuate the transaction.

Please refer to “OTHER FEES AND CHARGES” below for other applicable fees.

38 MCU AUTOMATED SERVICES - TOUCH TONE TELLER

SERVICE CHARGES AND FEES: None.

NYMCU ONLINE BANKING

SERVICE CHARGES AND FEES: None.

MCU BILLPAY

SERVICE CHARGES AND FEES: None for the use of this service. Please refer to Bill Pay Agreement for other fees connected to this service.

MCU E-STATEMENTS

SERVICE CHARGES AND FEES: None.

OTHER FEES AND CHARGES

 STATEMENT COPY FEE (for an additional statement copy): $2.00 per statement.

 CONDENSED STATEMENT FEE (for a printout of transaction history by month): $1.00 per each month requested.

 CHECK COPY FEE (for a copy of a cancelled check): $1.50 per check.

 CHECK PRINTING CHARGE: Charge varies depending on style of checks ordered.

 COUNTER CHECK FEE (for a sheet of 4 checks): $5.00.

 N.G. CHECK CHARGE (for depositing a check which is later returned as unpayable for any reason): $10.00.

 NSF FEE (each time an ACH debit request or bill payment you authorize, or check (share draft) you draw, is presented and returned as unpayable for any reason): $32.00 per item.

 LEGAL DOCUMENTS FEE (for processing a legal document served upon MCU pertaining to any of your accounts): $75.00.

 MONEY ORDER FEE: $2.00 per money order.

 OFFICIAL CHECK FEE (for an Official Check payable to a third party): $5.00 (waived if: (i) you have at least $2,000.00 in combined deposit balances after the check withdrawal, or (ii) are at least 62 years of age, or (iii) the check was issued as part of a withdrawal from a Youth Account).

 ATM CARD FEE (for replacing a Debit Card or Cash Connection Card): $5.00 per request.

 ATM PIN REPLACEMENT FEE: $3.00 per request.

39  STOP PAYMENT CHARGE: $20.00 per order.

 ABANDONED PROPERTY MAILING & PUBLICATION COSTS: MCU will deduct from the value of any abandoned property in your account a portion of the mailing and publication costs that we incur in connection with our due diligence obligations under the New York Abandoned Property Law. The deduction for publication costs will be calculated on a pro rata basis in accordance with the methods prescribed by the Office of the New York State Comptroller. The amount of any deduction for mailing costs will vary based on prevailing mailing rates.

 INACTIVITY FEE (if no deposits or withdrawals are posted to your checking/share draft account for six (6) months, your checking/share draft account will be assessed an Inactivity Fee): $5.00. The Inactivity Fee will be assessed on a monthly basis until an eligible deposit or withdrawal activates the account. Eligible account transactions include member-authorized deposits and withdrawals, and fees resulting from member-initiated transactions such as ATM transaction fees, NSF fees for returned payments and stop payment fees. The Inactivity Fee will be waived if the primary account holder is age 62 or older or age 24 or younger.

 ACCOUNT VERIFICATION FEE (if you authorize MCU to issue a document, to you or a third party, verifying your account information): $10.00.

 RETURNED MAIL FEE (if any correspondence sent by MCU to your mailing address is returned by the U.S. Postal Service for any reason): $5.00. The Returned Mail Fee will be assessed at the end of each month that your mailing address remains undeliverable, until you update your mailing address and mail is no longer returned by the Postal Service.

 IMMIGRATION LETTER FEE (for issuing a notarized letter confirming the member’s MCU account ownership, to be used in connection with a U.S. immigration application): $ 10.00.

This Schedule is not intended to be a complete list of all fees and service charges. Other incidental fees and charges may apply for special or unusual services.

REV. 04/01/2021

40 MCU AUTOMATED SERVICES-TOUCH TONE TELLER AGREEMENT

This agreement describes how to use the MCU Automated Services - Touch Tone Teller (AS- TTT) system and explain your rights and responsibilities as an MCU AS-TTT user (the “Agreement”). Your first use of MCU AS-TTT services will indicate your acceptance of this Agreement, whether or not you also previously agreed, or subsequently agree, in writing or electronically, to be bound by the terms of this Agreement. Since MCU AS-TTT services offer you access to certain MCU accounts, the MCU AS-TTT services are also governed by the MCU Rules and Regulations applicable to such accounts.

In this Agreement, the words “we,” “our” and “us” refer to MCU. The words “you” and “your” refer to you and all other owners of the accounts for whom MCU AS-TTT services will be made available. For additional terms and conditions applicable to your use of the MCU AS-ATT system, please see the Electronic Funds Transfer Disclosure Statement below.

MCU AUTOMATED SERVICES - TOUCH TONE TELLER SYSTEM

Automated Services - Touch Tone Teller is an electronic voice response system through which you may make transfers, withdrawals, and inquiries to and from certain of your MCU accounts. You access it through a touch-tone telephone by using your account number, your secret Personal Identification Number (PIN) and the last four (4) digits of your Social Security number. You may have already selected, or may in the future select, your secret PIN. You acknowledged and understand that we do not know your PIN. Because anyone who has your account number, Social Security number and PIN can use a touch-tone phone to make AS-TTT transactions for which you may be liable, you should guard the secrecy of your PIN. The PIN is for your personal use only. You agree not to allow another person to use it.

PERMISSIBLE AUTOMATED SERVICES - TOUCH TONE TELLER TRANSACTIONS

The Automated Services - Touch Tone Teller system allows you 24-hour access to certain MCU accounts. You may use your PIN for the following purposes, subject to the system’s operational limitations , and to the extent allowed by law and this Agreement:

(1) CHECK WITHDRAWALS - You may make withdrawals from your Regular Share Account, FasTrack Checking Account or Basic Share Draft Account, by requesting a check. This check will be made payable to your name and will be mailed to you at the last address we have for you in our records.

(2) TRANSFERS - You may make transfers from your Regular Share Account to your FasTrack Checking Account or Basic Share Draft Account, and likewise from your FasTrack Checking Account or Basic Share Draft Account to your Regular Share Account.

(3) LOAN PAYMENTS - You may make loan payments by transferring funds from your Regular Share Account, FasTrack Checking Account or Basic Share Draft Account, to any of your MCU loan accounts.

(4) BALANCE INQUIRIES - You may make balance inquiries with regard to the following accounts:

41  REGULAR SHARE ACCOUNT

 FASTRACK CHECKING ACCOUNT

 BASIC SHARE DRAFT ACCOUNT

 HOLIDAY OR VACATION CLUB ACCOUNT

 MONEY MARKET ACCOUNT

 REGULAR AND IRA SHARE CERTIFICATE ACCOUNTS

 CERTAIN LOAN ACCOUNTS

(5) OTHER INQUIRIES - You may inquire about our current dividend rates and our current loan rates.

LIMITS ON MCU AUTOMATED SERVICES - TOUCH TONE TELLER TRANSACTIONS

Your PIN may only be used to conduct transactions and access only those accounts we have approved in advance. We will not be required to complete a withdrawal if you do not have enough collected funds in your account to cover the transaction. You also agree not to use your PIN for a transaction that would cause the balance in a designated account to go below zero or that would cause a withdrawal or transfer from a type of account that you do not have. We are not required to complete any of these types of transactions, but if we do, you agree to pay us the excess amount or the improperly withdrawn or transferred amount immediately upon request. We may also limit or refuse to complete your MCU AS-TTT transactions when we have to for security reasons.

Although you may make an unlimited number of transfers from your FasTrack Checking Account or Basic Share Draft Account, federal regulations require MCU to limit the number of transfers, which you may make from your Regular Share Account. The total number of AS-TTT transfers, preauthorized third-party electronic payments and home banking transfers you may make from your Regular Share Account during any one calendar month is six (6).

CHARGES FOR TOUCH TONE TELLER SERVICES AND TRANSACTIONS

There are currently no charges imposed by MCU for use of the AS-TTT system. However, you agree to pay, upon proper notice, any charges that MCU may later deem necessary to impose.

DOCUMENTATION OF TRANSFERS

You will receive your normal monthly statements on your FasTrack Checking Account or Basic Share Draft Account. You shall also continue to receive quarterly statements on your Regular Share Account. However, you will also receive a monthly statement on your Regular Share Account if you have made withdrawals or transfers to or from this account during this month.

42 IN CASE OF ERRORS OR QUESTIONS ABOUT AUTOMATED SERVICES - TOUCH TONE TELLER TRANSACTIONS

If you think your statement is wrong, or if you need further information about a transfer listed on the statement, please: call us at (212) 693-4900; write to us at Municipal Credit Union, P.O. Box 3205, Church Street Station, New York, NY 10008-3205, Attention: Contact Center; or email us at [email protected] as soon as you can.

We must hear from you no later than sixty (60) days after we sent the FIRST statement on which the problem or error appeared. When you contact us:

(A) Tell us your name and account number (if any);

(B) Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information;

If you tell us orally, we may require that you send us your complaint or question in writing within ten (10) business days.

We will determine whether an error occurred within ten (10) business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days to investigate your complaint or question. If we decide to do this, we will credit your account within ten (10) business days for the amount you think is in error, so that you will have use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not credit your account.`

For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to ninety (90) days to investigate your complaint or question. For new accounts, we may take up to twenty (20) business days to credit your account for the amount you think is in error.

We will tell you the results within three (3) business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

RESPONSIBILITY FOR TRANSACTIONS

You are responsible for all MCU AS-TTT transactions made by you or anyone else who uses your PIN with your knowledge or consent. You are also responsible for unauthorized use of your PIN to the full extent allowed by applicable federal and state law. In addition, any person other than yourself who uses your PIN is responsible for all transactions he makes and for all transactions made by others with his permission. This does not limit your own responsibility. You agree to tell us at once if you believe your MCU AS-TTT PIN has been lost or stolen or used by some unauthorized person.

43 REPORTING UNAUTHORIZED USE

Tell us AT ONCE if you believe your PIN has been lost or stolen. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account(s) (plus your maximum Overdraft Line of Credit).

If you tell us within two (2) business days after you learn of the loss or theft of your PIN, you can lose no more than fifty dollars ($50) if someone used your PIN without your permission.

If you do not tell us within two (2) business days after you learn of the loss or theft of your PIN, and we can prove we could have stopped someone from using your PIN without your permission if you had told us, you could lose as much as five hundred dollars ($500).

Also, if your statement shows transfers that you did not make, including those made by using your PIN or other means, tell us at once. If you do not tell us within sixty (60) days after the statement was mailed to you, you may not get back any money you lost after the sixty (60) days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.

If you believe that your PIN has been lost or stolen, or that someone has transferred or may transfer money from your account(s) without permission, call or write us at the telephone number and address given above in the explanation on errors and questions.

PROCEDURES FOR NOTIFICATION

If you believe that your PIN has been lost or stolen or someone has made unauthorized withdrawals from your account without your permission, please call (212) 693-4900 or write to us at:

Municipal Credit Union, P.O. Box 3205, Church Street Station, New York, NY 10008-3205. Attention: Card Services Department

For purposes of these disclosures, our business days are Monday through Friday between the hours of 9:00 a.m. and 5:00 p.m. EST. MCU is not open for business on the banking holidays published by the New York State Department of Financial Services.

CIRCUMSTANCES IN WHICH WE WILL DISCLOSE INFORMATION TO THIRD PARTIES

We will disclose information to third parties about your account or other transfers you make for the following reasons when applicable:

(A) Where it is necessary to complete a transaction; or

(B) To verify the existence and condition of your account for a third party such as credit bureau or merchant; or

44 (D) If you give us your written permission.

LIMITATIONS ON OUR RESPONSIBILITY TO YOU

We make every effort to ensure that your MCU AS-TTT transactions are completed on time and in the correct amount and we maintain procedures to prevent any interruption or problems in service. We, therefore, do not promise that Touch Tone Teller will always be available for use. If you properly instruct us to perform an MCU AS-TTT transaction involving a designated account and we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses and damages. However, there are some exceptions. We will not be liable, for instance:

(1) if your account does not contain enough collected funds to cover the transaction;

(2) if the use of funds in your account is restricted by legal process or other encumbrance;

(3) if the AS-TTT system was not working properly and you knew or should have know about the breakdown when you started the transaction;

(4) if circumstances beyond our control (such as fire or flood) prevent the transfer despite reasonable precautions which we have taken;

(5) if your PIN has been reported lost or stolen or used by an unauthorized person;

(6) if we have reason to believe that you or someone else is using the MCU AS-TTT for fraudulent or illegal purposes;

(7) if you try to make a withdrawal or transfer from a type of account that you do not have, or

(8) if either you or we have terminated this Agreement.

There may also be other exceptions to our liability by applicable law.

TERMINATING THIS AGREEMENT

You can terminate this Agreement by notifying us in writing and no longer using your PIN. If more than one person is authorized to use MCU’s AS-TTT services on your accounts, or if another person has your PIN, we cannot stop that person from making transactions on your account(s) without terminating your MCU AS-TTT services. You agree to allow us twenty-four (24) hours to terminate MCU AS-TTT services after you give us notice. You remain responsible for MCU AS- TTT transactions during this time.

We can also terminate this Agreement at any time for any reason and without notice. For instance, we may decide to discontinue MCU AS-TTT service entirely , or we may terminate your MCU Touch Tone Teller privileges for security reasons.

CHANGE OF TERMS

We can change the terms of this Agreement at any time. If the change restricts, limits or reduces your rights under this Agreement, we will give you twenty-one (21) days’ notice by mail sent to

45 the most recent address you have given us. However, if we must make an immediate change for security reasons or other reasons as permitted by law, we will make the change first and let you know no later than thirty (30) days after we make the change.

NOTICES

All notices from us will be effective from the time we mail or deliver them to the last address we have for you in our records.

COLLECTION EXPENSES

If we ever have to file a lawsuit to collect money which is due to us because of your MCU AS- TTT transactions, you will pay our costs and expenses including reasonable attorney’s fees not to exceed 20% of the amount due.

APPLICABLE LAW

Any questions under this Agreement will be decided by New York law. If any term of this Agreement cannot be legally enforced, the Agreement is to be considered changed to the extent necessary to comply with the law. We can delay enforcing any of our rights under this Agreement without losing them. The fact that we do not enforce our rights in one instance does not mean that we will not do so in another instance.

REV. 06/13/19

46 JOINT AND CONVENIENCE ACCOUNT DISCLOSURE NOTICE

The purpose of this disclosure is to inform you of the terms and conditions of MCU joint and convenience accounts and to advise each joint or convenience accountholder of the relationship between the parties, and the rights of each accountholder, with regard to these accounts.

JOINT ACCOUNTS

The initial deposit, and any additional monies deposited thereafter into this account, shall become the property of each owner as joint tenant and, as such, MCU may pay over to any one joint owner all or any portion of this account during the lifetime of all joint owners. Therefore, MCU may honor any withdrawal requests or checks drawn by any one joint owner against the joint account. As such, withdrawals may be made, and checks may be drawn, by each joint owner without the knowledge or consent of the other joint owner.

Upon the death of one of the joint owners, the other joint owner will become the sole owner of the account and may write checks and make withdrawals against the account.

A judgment or debt owed by any joint owner may be enforced by any legal means against the entire proceeds of a joint account, including any monies which only one joint owner may have deposited.

A joint owner may prevent another joint owner from making withdrawals from a joint account, only by giving MCU written notice that it is not to honor any further checks or withdrawal requests made by the other joint owner. However, MCU will then require that any further withdrawals from this account be made only upon the written authorization of both joint owners.

CONVENIENCE ACCOUNTS

The initial deposit, and any additional monies deposited thereafter into this account, is the property of the owner (on MCU Youth Convenience Club Accounts, the minor is the “owner”) individually, and as such, only the owner may request that the account be closed during the lifetime of the owner. However, MCU may honor checks or orders drawn, or withdrawal requests from, the owner or the other named person on the account (on MCU Youth Convenience Club Accounts, the for convenience only adult is the “other named person”) during the lifetime of the owner even if said checks or orders or withdrawal requests reduce the account balance to zero.

MCU may be required by service of legal process to remit funds held in the convenience account to satisfy a judgment entered against, or other valid debt incurred by the owner of the convenience account but not the other named person except as otherwise ordered by a court of competent jurisdiction.

Prior to receipt by MCU of written notice of the death of the owner, and for such reasonable period thereafter as shall enable MCU to act, MCU may honor checks or orders drawn by, or withdraw requests from, the other named person on the account after the death of the owner.

Upon death of the owner and prior to service upon MCU of a restraining order, injunction or other appropriate process from a court of competent jurisdiction prohibiting payment and for such reasonable period thereafter as shall enable MCU to comply, MCU may make payment to the executor, administrator or voluntary administrator as defined in Article 13 of the Surrogate’s Court

47 Procedure Act of the deceased owner’s estate or to any person designated in Section 1310 of the Surrogate’s Court Procedure Act.

MCU will not treat the account as the property of the other named person during the lifetime of the owner nor after the death of the owner.

Prior to the receipt by MCU of written notice signed by the owner not to pay or deliver any monies in the account, and for such reasonable period thereafter as shall enable MCU to act, MCU shall not be liable to the owner for continuing to honor checks or other orders drawn by, or withdrawal requests from, the other named person. Upon receipt of such a notice, MCU will require the written authorization of the owner for any further payments or deliveries.

The other named person on the account must immediately notify MCU in writing of the owner’s death and may not use the convenience account after the owner’s death.

Additional information regarding joint and convenience accounts may be obtained by calling the Contact Center at (212) 693-4900.

REV. 06/13/19

48 YOUR AVAILABILITY TO WITHDRAW FUNDS AT MUNICIPAL CREDIT UNION

GENERAL POLICY

Our policy is to make funds from your check deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposits and cash deposits will be available on the day we receive the deposit. Once the funds are available, you can withdraw them in cash and we will use them to pay the checks that you have written.

DETERMINING THE AVAILABILITY OF A DEPOSIT

For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit in person to one of our employees or at an ATM before 3:30 p.m. ET on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after 3:30 p.m. ET or on a day we are not open, we will consider that the deposit was made on the next business day we are open. If you mail a deposit, we will consider that the deposit was made on the next business day after the business day on which we received the deposit.

SAME-DAY AVAILABILITY

Funds from the following deposits are available on the same business day we receive the deposit:

 Funds from electronic direct deposits to your account.

 Cash.

NEXT-DAY AVAILABILITY

Funds from the following deposits are available on the first business day after the day of your deposit:

 U.S. Treasury checks that are payable to you.

 Wire transfers.

 Checks drawn on MCU.

 State and local government checks that are payable to you.

 Cashier’s, certified, and teller’s checks that are payable to you.

 Federal Reserve Bank checks, Federal Home Loan Bank checks, and postal money orders, if these items are payable to you.

49 OTHER CHECK DEPOSITS

The first $225 from a deposit of checks will be available on the first business day after the day of your deposit. The remaining funds will be available on the second business day after the day of your deposit.

LONGER DELAYS MAY APPLY

Funds you deposit by check may be delayed for a longer period under the following circumstances:

 We believe a check you deposit will not be paid.

 You deposit checks totaling more than $5,525 on any one day.

 You redeposit a check that has been returned unpaid.

 You have overdrawn your account repeatedly in the last six months.

 There is an emergency such as failure of computer or communications equipment.

We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the seventh business day after the day of your deposit.

SPECIAL RULES FOR NEW ACCOUNTS

If you are a new customer, the following special rules will apply during the first thirty (30) days your account is open.

Funds from deposits of cash and electronic direct deposits to your account will be available on the day we receive the deposit. Funds from the deposit of wire transfers and the first $5,525 of a day’s total deposits of cashier’s, certified, teller’s, traveler’s and federal, state and local government checks will be available on the first business day after the day of your deposit if the deposit meets the same conditions set forth above for “next-day available” items. The excess over $5,525 will be available on the ninth business day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,525 will not be available until the second business day after the day of your deposit.

Funds from all other check deposits will be available on the ninth business day after the day of your deposit.

REV. 07/01/2020

50 rev. 7/19

FACTS WHAT DOES MUNICIPAL CREDIT UNION DO WITH YOUR PERSONAL INFORMATION?

WHY? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.

WHAT? The types of personal information we collect and share depend on the product or service you have with us. This information can include:

• Social Security number and income • Account balances and payment history • Credit history and credit scores

When you are no longer our customer, we continue to share your information as described in this notice.

HOW? All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Municipal Credit Union chooses to share; and whether you can limit this sharing.

Reasons we can share your personal Does Municipal Credit Can you limit this information Union share? sharing?

For our everyday business purposes - such as to process your transactions, maintain Yes No your account(s), respond to court orders and legal investigations, or report to credit bureaus

For our marketing purposes – Yes No to offer our products and services to you

For joint marketing with other financial Yes No companies

For our affiliates’ everyday business purposes - information about your No We Don’t Share transactions and experiences

For our affiliates’ everyday business purposes - information about your No We Don’t Share creditworthiness

For nonaffiliates to market to you No We Don’t Share

51 rev. 7/19

Questions? Call Within N.Y. City & Long Island (212) 693-4900; outside N.Y. City & Long Island (800) 323-6713

Who we are

Who is providing this notice? MUNICIPAL CREDIT UNION

What we do How does Municipal Credit Union protect To protect your personal information from my personal information? unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. How does Municipal Credit Union collect my We collect your personal information, for example, personal information? when you • Apply for a loan or open an account • Deposit money or withdraw money • Use your credit card or debit card We also collect your personal information from others, such as credit bureaus and other companies. Why can’t I limit all sharing? Federal law gives you the right to limit only • Sharing for affiliates’ everyday business purposes – information about your creditworthiness • Affiliates from using your information to market to you • Sharing for nonaffiliates to market to you State laws and individual companies may give you additional rights to limit sharing. Definitions Affiliates Companies related by common ownership or control. They can be financial and nonfinancial companies. • Municipal Credit Union has no affiliates. Nonaffiliates Companies not related by common ownership or control. They can be financial and nonfinancial companies. • Municipal Credit Union does not share with nonaffiliates so they can market to you. Joint marketing A formal agreement between nonaffiliated financial companies that together market financial products or services to you. • Our joint marketing partners include insurance companies and financial products or services companies.

52 ELECTRONIC FUNDS TRANSFER DISCLOSURE STATEMENT

The words “you” and “your” mean the depositor and any co-depositor. The words “we,” “our” and “us” refer to Municipal Credit Union (“MCU”).

You may authorize the electronic transfer of funds to or from your account(s) with us. Examples of these types of electronic transfers are:

 The periodic direct deposit of government, payroll or other third-party payments into your account(s);

 The one-time or periodic transfer of funds from your account(s) to pay your obligations to third parties;

 The one-time or periodic transfer of funds you have at another financial institution to pay us or to fund a new account with us;

 The one-time transfer of funds from your checking account when you authorize a merchant or other payee to:

(a) use information from your share draft (check) to initiate an electronic payment to purchase goods or services or to pay bills; or

(b) electronically collect a charge in the event of a check you gave is returned for insufficient funds. (Your authorization to make these types of electronic transfers may be expressed in writing or implied through the posting of a sign.)

Since you have already authorized one or more of these types of transfers, or may do so in the future, we are providing you with this written disclosure. Please be advised that there are other types of electronic transfers (for example, ATM, debit card or online banking transactions) which are covered under separate agreements you may have with us and therefore are not governed by this disclosure.

LIMITATIONS ON TRANSFERS

Although you may make an unlimited number of transfers from your FasTrack Checking Account or Basic Share Draft Account, federal regulations require MCU to limit the number of transfers which you may make from your Regular Share Account. During any calendar month, you may not make more than six withdrawals or transfers from your Regular Share Account to another MCU account of yours or to a third-party by means of pre-authorized or automatic transfer or telephonic order or instruction (including pre-authorized third-party electronic payments, TouchTone Teller and home banking transfers and checks).

NOTIFICATION OF UNAUTHORIZED TRANSFERS

If you believe that someone has transferred or may transfer money from your account without any permission, please: call us at (212) 693-4900; write to us at Municipal Credit Union, P.O. Box 3205, Church Street Station, New York, NY 10008-3205, Attention: Card Services Department; or email us at [email protected] as soon as you can.

53 If your statement shows transfers that you did not make, including those made using your PIN or by other means, tell us at once. If you do not tell us within sixty (60) days after the statement was mailed to you, you may not get back any money you lost after the sixty (60) days if we can prove that we could have prevented someone from taking the money if you had told us in time.

If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time period.

BUSINESS DAYS

Our business days are Monday through Friday. Holidays are not included. MCU is not open for business on the banking holidays published by the New York State Department of Financial Services.

RIGHT TO STOP PAYMENT

You may stop payments of transfers to persons or companies other than us. Payments to us are governed by the terms of the automatic payment authorization form and not this agreement. If you have authorized us in advance to make regular payments out of your account to other persons or companies, you can stop any of these payments. However, we will then suspend all subsequent payments to such person or companies until such time as you notify us that payments are to be resumed. Call us at the telephone number listed above, in time for us to receive your request three (3) business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within fourteen (14) days after you call. We will charge $20.00 for each stop payment order you give. If you order us to stop one of these payments three (3) business days or more before the transfer is scheduled and we do not do so, we will be liable for your losses or damages.

PREAUTHORIZED DEPOSIT VERIFICATION

If you have arranged to have direct deposits made to your account at least once every sixty (60) days from the same person, agency or company, you can call us at (212) 693-4900 to find out whether or not the deposit was made.

PERIODIC STATEMENT

You will receive the normal monthly statement on your FasTrack Checking Account or Basic Share Draft Account. You shall also continue to receive quarterly statements on your MCU Regular Share Account. However, you will also receive a monthly statement on your Regular Share Account if: a) a transfer has been made from this account during the month; or b) a transfer has been made to this account during the month and this account may be accessed by other types of electronic funds transfers.

NOTICE OF VARYING AMOUNTS

If preauthorized payments to persons, agencies or companies other than us vary in amount, the person, agency or company you are going to pay will tell you ten (10) days before each payment when it will be scheduled and how much it will be. You may choose instead to get this notice only when the payment would differ by more than a certain amount from a previous payment, or when the amount would fall outside certain limits that you set. However, should a pre-authorized

54 payment request be returned for any reason, we will charge you $32.00 for each payment request that is presented and returned as unpayable.

DISCLOSURE OF OUR LIABILITY FOR FAILURE TO MAKE TRANSFERS

If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions to this which include the following:

 If, through no fault of ours, you do not have enough money in your account to make the transfer.  If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.  The funds in your account are subject to legal process or other similar encumbrance.  The transfer would exceed one of the established limits contained in this disclosure.

DISCLOSURE OF ACCOUNT INFORMATION TO THIRD PARTIES

We will disclose information to third parties about your account for the transfers you make:

 Where it is necessary for completing transfers.  To verify the existence and condition of your account for a third party, such as a credit bureau or merchant.  To comply with government agency or court orders.  If you give us your written permission.

IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS

If you think your statement is wrong, or if you need further information about a transfer listed on the statement, please: call us at (212) 693-4900; write to us at Municipal Credit Union, P.O. Box 3205, Church Street Station, New York, NY 10008-3205, Attention: Card Services Department; or email us at [email protected] as soon as you can.

We must hear from you no later than sixty (60) days after we sent the FIRST statement on which the problem or error appeared. When you contact us:

(A) Tell us your name and account number (if any);

(B) Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information;

If you tell us orally, we may require that you send us your complaint or question in writing within ten (10) business days.

We will determine whether an error occurred within ten (10) business days after we hear from you and will correct any error promptly. If we need more time however, we may take up to forty-five

55 (45) days to investigate your inquiry. If we decide to do this, we will credit your account within ten (10) business days for the amount you think is in error so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not credit your account.

REV. 06/13/19

56 Municipal Credit Union’s Member Identification Program Notice

Important Information About Procedures for Opening a New Account or New Trailer

To help the government fight the funding of terrorism and money laundering activities, federal law requires that all financial institutions obtain, verify, and retain information that identifies each person opening a new account or sub-account.

How will these new regulations affect you?

When you open an account or sub-account, we will ask for your name, address, date of birth, social security number and other information that will enable us to identify you. We will also ask to see your driver’s license and/or other identifying documents.

We thank you for your patience and cooperation as we fulfill our obligations under the provisions of this important legislation.

REV. 06/13/19

57 MEMBER CODE OF CONDUCT POLICY

Purpose

The Board of Directors of the Municipal Credit Union (“MCU”) determined that the privilege of MCU services available to members must be reserved only for members who are in “good standing” with MCU. The purpose of this policy is to protect the employees, agents, volunteers, and members of MCU from abusive members. This policy is enacted to address standards of member conduct to assure that rights and protection of MCU’s employees, volunteers, and members. MCU’s good reputation is due in large part to the loyalty, commitment, and continued efforts of its employees, volunteers and members. MCU is committed to treating its employees, volunteers, and members with the respect they deserve and is committed to maintaining a work place free from unacceptable conduct from any source.

Policy Statement

In the event that any member or non-member (i) engages in any type of abusive conduct towards an MCU member or an MCU employee or volunteer engaged in MCU business or (ii) is deemed, in the sole discretion of MCU, to be “not in good standing” who seeks access to MCU services directly or indirectly, the Chief Executive Officer, or his/her designee, is authorized to apply appropriate remedial measures against such individual.

Scope

This policy shall extend to any member “not in good standing” who seeks member services whether directly or indirectly through an MCU account. This policy shall also apply to any person who has access to MCU services directly or indirectly through a member who is considered to be “not in good standing” with MCU. A member will be considered “not in good standing” with MCU if: • The member fails to comply with the terms and conditions of any lawful obligation with MCU and causes, or puts MCU at risk of, a “pecuniary loss” as defined below; • The member manipulates or otherwise abuses MCU services or products to the detriment of MCU’s membership; or • The member’s share account balance drops below par value and does not replenish the shortfall within 6 months.

58 The determination of whether a member is or is not “in good standing” with MCU will be made at the sole discretion of the Senior Management of MCU. Any member deemed to be “not in good standing” will be reported at the next regular board meeting. Appropriate Remedial Actions Permitted

In that regard, any or all of the following actions may be imposed against (i) any individuals who have engaged in abusive conduct or (ii) any member deemed to be “not in good standing”:

Denial of all services other than the right to maintain a share account and the right to vote at annual meetings and at special meetings.

Preclusion from personal contacts with MCU employees or volunteers such that MCU services may be available only by remote means.

Preclusion from access to MCU premises.

Taking any other action deemed appropriate under the circumstances that is not precluded by Article XI of New York Banking Law, New York Department of Financial Services Rules and Regulations, MCU’s Bylaws, or other applicable federal or state law.

Threats of bodily harm, actual bodily harm, or any other illegal activity against any MCU employee, volunteer, or other member will be reported to appropriate local, state or federal authorities. In addition, MCU at its discretion may seek a restraining order.

In the cases of continued abusive behavior or an extremely abusive incident, a member shall be subject to expulsion from membership under New York Banking Law Section 464. Definitions

“Abusive conduct” includes, but is not limited to, any of the following conduct:

Any threats of or actual bodily harm or illegal activity against another member or an employee or volunteer engaged in MCU business.

Any form of action that may constitute harassment under MCU’s harassment policy.

Any type of harassment, including age, sexual, ethnic, or racial harassment; making racial or ethnic slurs, engaging in sexual conduct; making sexual overtures.

Inappropriate touching.

Making sexual flirtations, advances or propositions; engaging in verbal abuse of a sexual, racial or ethnic nature; making graphic or degrading comments about an individual or his or her appearance.

59 Displaying sexually suggestive objects or pictures.

Fighting, kicking or other physical harm or attempted harm towards an MCU member, employee, or volunteer engaged in MCU business.

Engaging in offensive or abusive physical contact.

Making false, vicious or malicious statements about any MCU employee, member, volunteer, or MCU and its services, operations, policies, practices, or management.

Cursing or other abusive or vulgar language directed towards an MCU member, employee, or volunteer engaged in MCU business. For example; using profane, abusive, inappropriate, intimidating, or threatening language.

Bringing or possessing firearms or weapons or any hazardous or dangerous device on MCU premises or at an MCU function, unless such firearm is in your possession in the performance of work-related duties.

Possession, sale, use, or being under the influence of an unlawful or unauthorized substance on MCU premises or at an MCU function.

Being intoxicated or under the influence of alcohol on MCU premises or at an MCU function.

Attempting to coerce or interfere with an MCU employee or volunteer in the performance of their duties at any time.

Uncivil conduct or failure to maintain satisfactory working relationships with other members, employees and volunteers at MCU.

Conducting or attempting to conduct or engage in any fraudulent, dishonest or deceptive activity of any kind involving MCU employees or MCU services.

Any posting, defacing, or removing notices or signs on MCU premises; writing on MCU bulletin boards without management authorization.

Appropriation or misappropriation of MCU funds, property or other material proprietary to MCU.

Immoral conduct or indecency on MCU premises.

Deliberate or repeated violations of security procedures or safety rules.

Any other act which endangers the safety, health or well-being of another person or which is of sufficient magnitude that it causes disruption of business at MCU. This list is not comprehensive and is used only as an example of types of behavior that may be viewed as “abusive” by MCU.

60 “Member services” are hereby defined as any products or services now or hereafter provided or sponsored by MCU or otherwise made available to MCU members, which services shall include, but are not limited to: loans, deposit accounts, checking or share drafts, ATM services, online banking services, and other electronic fund transfer services.

A “pecuniary loss” to MCU occurs when MCU writes off as uncollectible any monies which the member owes, for whatever reason, to MCU.

• For loans: the pecuniary loss is defined as the principal amount of any monies owed and written off as uncollectible. The amount of the pecuniary loss does not include interest and expenses. • For shares: the pecuniary loss is defined as the negative balance in the share account written off as uncollectible.

Social Channel Responsibility

Members are encouraged to engage and dialogue with MCU via our online social channels on Facebook, Twitter and YouTube. We may also employ other social channels in the future. Members have a responsibility to keep the conversations in these public forums free of inappropriate language, terms and subjects. They also have a responsibility to avoid derogatory or defamatory statements or claims. MCU reserves the right, at its discretion, to remove any post or comments that it deems in violation of these standards.

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