Product Disclosures ^top

ESL and TEL-E$L are registered service marks of ESL Federal Credit Union.

Owners' Dividend

Qualification for the Owners Dividend is subject to eligibility requirements. Payment of a Dividend is not guaranteed.

Checking & Savings Disclosures ^top

1. Unlimited, free transactions when using an ESL ATM. 5 free non-ESL ATM withdrawals per month per account with direct deposit or Premier Checking, however, the ATM owner may still charge a fee.

2. If the average balance for the month falls under $1,000, the account will be charged a $6.00 service charge that may decrease dividends earned for this account. Fees may reduce the dividends earned for this account.

Free Gift

1. To receive a free gift, a minimum deposit for new checking accounts is $50. ESL Federal Credit Union has the right to substitute a gift of similar or equal value.

2. Unlimited, free transactions when using an ESL ATM. 5 free non-ESL ATM withdrawals per month per account with direct deposit or Premier Checking, however, the ATM owner may still charge a fee.

3. If the Premier Checking Account average balance for the month falls under $1,000, the account will be charged a $6.00 service charge. Service charge may decrease dividends earned for this account.

Free Checking

1. Unlimited, free transactions when using an ESL ATM. 5 free non-ESL ATM withdrawals per month per account with direct deposit or Premier Checking, however, the ATM owner may still charge a fee.

Premier Checking

1. If the average balance for the month falls under $1,000, the account will be charged a $6.00 service charge that may decrease dividends earned for this account.

2. Unlimited, free transactions when using an ESL ATM. 5 free non-ESL ATM withdrawals per month per account with direct deposit or Premier Checking, however, the ATM owner may still charge a fee.

3. This rate will be guaranteed for new Premier Checking Accounts opened with direct deposit for the first six months following the date on which the account is opened. At the end of the 6 months, the rate becomes variable and will return to the APY in effect for Premier Checking Accounts at that time.

Fees may reduce dividends earned for this account.

ESL Courtesy Pay

1. Fee for each overdraft is up to $37.00. The overdraft fee can be imposed on checks, ACH and Bill Pay transactions that exceed the balance in your checking account and ESL Visa Check Card transactions, if you have registered. You must bring your account to a positive end-of-day available balance at least once every 20 days. ESL will not pay an overdraft if you do not meet the eligibility requirements.

Daily Dividend

1. Dividends are compounded daily and paid quarterly using the daily balance method.

2. Must be a pre-authorized automatic or telephonic transfer (including Internet transfers) to another ESL share account or third party. For unlimited withdrawals, conduct your transactions at an ESL branch or ATM.

3. Limit of two ATM deposits per day at any ESL ATM. First $200 daily deposit available immediately. Unlimited, free transactions when using an ESL ATM. 5 free non-ESL ATM withdrawals per month per account with direct deposit or Premier Checking, however, the ATM owner may still charge a fee.

Holiday Club Account

1. Must be a pre-authorized automatic or telephonic transfer (including Internet transfers) to another ESL share account or third party. For unlimited withdrawals, conduct your transactions at an ESL branch or ATM.

Money Maker Account

1. Access the funds from your Money Maker Account with up to six withdrawals allowed each month. This includes pre-authorized automatic transfers and telephone and internet transfers to another ESL share account or to a third party and Money Maker checkes. ATM transactions not included.

2. Limit of two ATM deposits per day at any ESL ATM. First $200 daily deposit available immediately. Unlimited, free transactions when using an ESL ATM. 5 free non-ESL ATM withdrawals per month per account with direct deposit or Premier Checking, however, the ATM owner may still charge a fee.

Fees may reduce dividends earned for this account.

Premier Money Maker Account

1. Access the funds from your Premier Money Maker Account with up to six withdrawals allowed each month. This includes pre-authorized automatic transfers and telephone and internet transfers to another ESL share account or to a third party and Money Maker checks. ATM transactions not included.

2. Limit of two ATM deposits per day at any ESL ATM. First $200 daily deposit available immediately. Unlimited, free transactions when using ESL ATM. 5 free non-ESL ATM withdrawals per month per account with direct deposit or Premier Checking, however, the ATM owner may still charge a fee.

3. No minimum balance is required to obtain appropriate disclosed annual percentage yield. Minimum opening deposit is $10,000. If the average daily balance for the month falls below $25,000.00, the account will be charged a $10.00 service fee.

Fees may reduce dividends earned for this account.

Account Comparison

1. Limit of two ATM deposits per day at any ESL ATM. First $200 daily deposit available immediately. Unlimited, free transactions when using an ESL ATM. 5 free non-ESL ATM withdrawals per month per account with direct deposit or Premier Checking, however, the ATM owner may still charge a fee.

CheckOK

1. Your Money Maker and Daily Dividend account allows up to six withdrawals each month. That includes CheckOK transfers, pre-authorized automatic transfers and telephone and Internet transfers to another ESL share account or to a third party and Money Maker checks. To receive CheckOK, you must be the owner of both the checking account the linked Daily Dividend or Money Maker account.

Certificates

All Rates subject to change without notice. A penalty may apply for early withdrawal. Fees may affect earnings.

Jumbo Certificates

A penalty may apply for early withdrawal. Fees may affect earnings.

Call Certificates

1. Call Certificates guarantee a Annual Percentage Yield (APY) for the initial six months of the twenty-four month term or twelve months of the sixty-month term. ESL may "call" the certificate one time every six months. If ESL does not "call" the certificate, the original APY remains fixed for every six-month period until the term ends.

A penalty may apply for early withdrawal. Fees may affect earnings.

IRA Certificates

1. Consult your tax advisor.

A penalty may apply for early withdrawal. Fees may affect earnings.

ESL Visa^® Check Card

* Unlimited, free transactions when using an ESL ATM. 5 free non-ESL ATM withdrawals per month per account with direct deposit or Premier Checking, however, the ATM owner may still charge a fee.

ESL ATM Card

* Limit of two ATM deposits per day at any ESL ATM. First $200 daily deposit available immediately. Unlimited, free transactions when using an ESL ATM. 5 free non-ESL ATM withdrawals per month per account with direct deposit or Premier Checking, however, the ATM owner may still charge a fee. Withdraw up to $600 per day. Two deposits per day with $200 of deposits available immediately. Change your PIN at any ESL ATM.

Convenience Services Disclosures ^top

1. ESL Internet Banking is free for all ESL members. ESL Bill Pay Service is free for all ESL members.

2. Limit of two ATM deposits per day at any ESL ATMs. First $200 daily deposit available immediately. Unlimited, free transactions when using an ESL ATM. 5 free non-ESL ATM withdrawals per month per account with direct deposit or Premier Checking, however, the ATM owner may still charge a fee.

Loans & Visa Disclosures ^top

The ESL Vehicle Loan Exchange

1. 7.50% is a sample rate used only for comparison. Your rate may vary based on market conditions and your credit history. Offer valid on New York State titles only. Ownership of the title cannot change. ESL Auto Loans are not eligible for refinance through this program.

2. Assumes 48 payments remaining on your loan.

Auto Loans

** The actual amount you can borrow may vary based on your credit profile.

1. Lien placed on vehicle.

2. Rates subject to credit evaluation. Actual rates may vary.

3. A $15,000 minimum for terms over 66 months.

Home Improvement Loans

Copies of all signed estimates over $5,000 on professional letterhead of the business or contractor performing the work are required.

Education Loans

Student must be matriculated at an accredited school and the school must participate in a tuition aid program.

Mortgage & Equities Disclosures ^top

Eligible Property Types for Mortgages

1. Property types eligible for ESL mortgage products are 1 to 4 unit owner-occupied residence, modular homes and PUDs or second homes. Some mortgage programs are limited to specific property types; please contact a Mortgage Originator for more details.

Home Equity Line of Credit

1. Accepting applications for property located in New York State in the following counties; Monroe, Genesee, Livingston, Ontario, Orleans and Wayne. Property types eligible for an ESL Home Equity Line of Credit are 1 to 2 unit owner-occupied residence, approved condos, modular homes and PUDs or second homes.

2. ESL waives the closing costs for a home equity loan or line of credit of $10,000 or more. However, if you close your account within the first 36 months of your account open date you must reimburse us for actual costs and fees paid in connection with the opening of your account. For a loan or line of credit between $5,000 and $9,999 a $298 closing cost fee will apply. Minimum loan or line amount is $5,000. Property and flood insurance, if applicable, are required.

3. Final approval is subject to completion of the loan process, including a property valuation and title review.

Home Equity Loan

1. Accepting applications for property located in New York State in the following counties; Erie, Genesee, Livingston, Monroe, Niagara, Ontario, Orleans, Seneca, Wayne, Wyoming and Yates. Property types eligible for an ESL Home Equity Loan are 1 to 2 unit owner-occupied residence, approved condos, modular homes and PUDs or second homes.

3. Final approval is subject to completion of the loan process, including a property valuation and title review.

Construction Loans

1. This option is available for properties located in New York State in the following counties; Erie, Genesee, Livingston, Monroe, Niagara, Ontario, Orleans, Seneca, Wayne, Wyoming and Yates.

Please note: construction loans are not available at this time.

Jumbo Loans

1. This option is available for properties located in New York State in the following counties; Monroe, Genesee, Livingston, Ontario, Orleans and Wayne.

Adjustable-Rate Mortgages

1. Rates will remain constant for the initial rate period, then adjust every change date thereafter. The 3 and 5 to 1 Yr. ARMs are indexed to the 1 year LIBOR (London InterBank Offered Rate) as published in The Wall Street Journal.

ESL Affordable Mortgage Solutions

1. Mortgages are available for purchase and no cash-out refinance mortgages on properties located only in Monroe, Ontario, Orleans, Wayne, Livingston and Genesee counties. Homeownership education may be required. Rates and program eligibility are subject to credit evaluation.

About ESL ^top

1. Consult your tax advisor.

2. Unlimited, free transactions when using an ESL ATM. Five free non-ESL ATM withdrawals per month per account with direct deposit or Premier Checking, however, the ATM owner may still charge a fee.

Rates ^top

Fixed-Rate, Full-Closing Mortgage Rates

*APR = Annual Percentage Rate. Rates subject to credit evaluation. Actual rates may vary.

All rates are quoted based on a 45-day rate lock and are for properties located in upstate New York. Rates for longer rate locks may be higher.

Counties in upstate New York include: Allegany, Broome, Cattaraugus, Cayuga, Chautauqua, Chemung, Chenango, Clinton, Cortland, Delaware, Erie, Essex, Franklin, Fulton, Genesee, Hamilton, Herkimer, Jefferson, Lewis, Livingston, Madison, Monroe, Montgomery, Niagara, Oneida, Onondaga, Ontario, Orleans, Oswego, Otsego, St. Lawrence, Saratoga, Schenectady, Schoharie, Schuyler, Seneca, Steuben, Tioga, Tompkins, Warren, Washington, Wayne, Wyoming and Yates.

Conventional Loans: Balance less than or equal to $417,000 for single family, owner occupied; Balance less than or equal to $533,850 for two-family, owner occupied.

Rate lock options:

The ESL standard mortgage rate lock option is 45 days and there's no lock fee.
90-day and 120-day rate locks: 1/2 point fee paid at time of lock.
150-day and 180-day rate locks: 1 point fee paid at time of lock.
The fee associated with the rate lock is non-refundable if the borrower fails to close. These fees are fully refundable if ESL declines the loan.
For loans that do not close prior to the rate lock expiration date, the interest rate and total points can change. This determination will be made by ESL as of the day after the rate lock expires. If the new interest rate is the same or lower than the old locked rate, the new interest rate will be the same as the old locked rate and the member will pay the total points associated with that rate and an additional 1/4 of 1-point at closing. If the new interest rate is higher than the old locked rate, then the new interest rate will be the higher interest rate and the member will pay the total points associated with that rate and no additional fees will be charged. Under each situation, the rate will be re-locked for 30-days.
Material changes in loan terms brought about by credit qualifications, collateral value or other factors may void a rate lock.

Adjustable-Rate, Full-Closing Mortgage Rates

*APR = Annual Percentage Rate. Rates subject to credit evaluation. Actual rates may vary. Rates may increase during your loan term. All rates quoted are for properties located in upstate New York.

Other rate and point combinations are available. No maximum loan size (conforming and jumbo at same rate). Up to 95% LTV financing.

Rate Lock Options:

The ESL standard mortgage rate lock option is 45 days and there's no lock fee.
90-day and 120-day rate locks: 1/2 point fee paid at time of lock.
150-day and 180-day rate locks: 1 point fee paid at time of lock.
The fee associated with the rate lock is non-refundable if the borrower fails to close. These fees are fully refundable if ESL declines the loan.
For loans that do not close prior to the rate lock expiration date, the interest rate and total points can change. This determination will be made by ESL as of the day after the rate lock expires. If the new interest rate is the same or lower than the old locked rate, the new interest rate will be the same as the old locked rate and the member will pay the total points associated with that rate and an additional 1/4 of 1-point at closing. If the new interest rate is higher than the old locked rate, then the new interest rate will be the higher interest rate and the member will pay the total points associated with that rate and no additional fees will be charged. Under each situation, the rate will be re-locked for 30-days.
Material changes in loan terms brought about by credit qualifications, collateral value or other factors may void a rate lock.

Other adjustable rate/point combinations are available. Call for product descriptions and rate options.

Home Equity Product Rates

*This rate will never exceed 15.90%. Rates are available for new accounts only and cannot be used to refinance existing ESL equity debt.

1. Rates subject to approval. Rates shown are for new loans only; cannot be used to refinance existing ESL equity balances.

2. ESL waives the closing costs for a home equity loan or line of credit of $10,000 or more. However, if you close your account within the first 36 months of your account open date you must reimburse us for actual costs and fees paid in connection with opening your account. For a loan or line of credit between $5,000 - $9,999.99 a $298 closing cost fee will apply. Property insurance and flood insurance, if applicable, are required.

IRA Certificate Terms

All rates subject to change without notice. Substantial penalties for early withdrawal. Fee could reduce percentage on all earnings in the account.

IRA Money Maker Accounts

All rates subject to change without notice. Fees could reduce earnings in the account.

Credit Cards Rates

1. Rates subject to credit evaluation. Actual rates may vary.

2. Variable rate adjusts monthly.

3. The APR is variable and may be increased. The maximum amount is $15,000.

4. Introductory rate on Visa credit cards is fixed for 6 months from account open date. At the end of the 6 months, the contract rate becomes variable and may increase, based on Prime Rate + 6.73% up to 14.74% to determine the Purchase, Balance Transfer and Cash Advance Rates. As of 9/30/11, the Prime Rate was 3.25%. Please see our disclosure for complete details on the terms and conditions of your ESL Visa Credit card account.

Consumer Loan Rates

*APR = Annual Percentage Rate. Rates subject to credit evaluation. Actual rates may vary.

1. Lien placed on vehicle.

2. Rates subject to credit evaluation. Actual rates may vary.

3. A $15,000 minimum for terms over 60 months.

Certificate Rates

All Rates subject to change without notice. Substantial penalties for early withdrawal. Fees could reduce earnings in the account.

Share Account Rates

1. This rate will be guaranteed for new Premier Checking Accounts opened with direct deposit for the first six months following the date on which the account is opened. At the end of the 6 months, the rate becomes variable and will return to the APY in effect for Premier Checking Accounts at that time.

Product Disclosures ^top