Coverdell Education Savings Account Disclosure

Compounding frequency-Interest will be compounded quarterly.

Crediting frequency-Interest will be credited into this account quarterly.

Time requirements-This account matures 18 months after account opening.

Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity)-The penalty will equal six months interest on the amount withdrawn subject to penalty. The interest rate we will use to calculate this early withdrawal penalty will be the interest rate in effect at the time of the withdrawal. In certain circumstances, such as death or incompetence of an account owner, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. Other exceptions may also apply, for example, if this is part of an IRA or other tax-deferred savings plan.

Withdrawal of interest prior to maturity-The annual percentage yield is based on an assumption that interest will remain in the account until maturity. A withdrawal will reduce earnings.

Automatically renewable account-Your account will automatically renew at maturity. Each renewal term will be the same as the original term, beginning on the maturity date. Interest will be calculated on the same basis as during the original term. You will have a grace period of ten calendar days after maturity to withdraw the funds without being charged an early withdrawal penalty. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period, if any).

Final maturity-If your account is not renewed, the funds in the account will be paid directly to you.

Average daily balance computation method-Interest is 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. The period we use to make this calculation is quarterly.

Accrual of interest on noncash deposits-Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account.

Minimum balance to open-The minimum balance required to open this account is $25.00.

Deposit limitations-You may make an unlimited number of deposits into your account. The maximum amount you can deposit is $2,000.00.

Effect on maturity-The maturity date for this account will remain the same after additional deposits.

Withdrawal limitations-You may make withdrawals of principal from your account before maturity only if we agree at the time you request the withdrawal. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty. You can only withdraw interest credited in the term before maturity of that term, subject to penalty. You can withdraw interest any time during the term after it is credited to your account.

Fees and charges-The following fees and charges apply to this account:

-Termination Fee: $25.00

-Transfer Fee: Fee to transfer money to IRA at another institution: $25.00

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