Loan Rates
May 1, 2008

All rates stated reflect the Annual Percentage Rate (APR). These are our lowest rates available, based on credit history. Your actual rate will reflect your individual circumstances and may be higher than listed. Rates are current as of the stated date and are subject to change.

*Home Equity rates are based on the percentage of the equity you are borrowing. Lowest rate available on Home Equity Line of Credit is Prime minus 1/4% (5.75%) APR, currently offered on loans with 80% or less LTV. Current maximum rate on a Option 1 HELOC is 8.00% APR. Your rate will never be less than 4% or exceed 18%.

**Home Improvement Loan Special offered through 5-31-08 for loans of $10,000 and under. Written home improvement estimates are needed to secure this special rate. See an Option 1 loan specialist today!

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Dividend & Interest Rates
May 1, 2008

*These are dividend earning accounts. Dividends are calculated using the Daily Interest Method on the full amount of principal in the account and are paid on calendar quarters. The Board of Directors declares the dividend rate to be paid each quarter based on the profits of the credit union. The rates may change quarterly. If these accounts are closed during the dividend period, the dividend will be forfeited. Fees, if applicable, may reduce the earnings on these accounts. The stated dividend rate on these accounts is for the period ending March 31, 2008.

**These are interest earning accounts. Interest is calculated using the Daily Interest Method on the full amount of principal in the account. Unlike dividends, interest on these accounts is guaranteed for a specific period of time. The stated APY is paid prior to any dividends being declared. Early withdrawals from the Christmas Club account will cause the account to be closed and the loss of all earned interest.

Option Plus Checking: This is a tiered account. Interest is paid on daily balances over $2,000. Interest is compounded and paid monthly.

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Regular & IRA Certificates
May 1, 2008

Certificate rates are subject to change at any time on new deposits. The above rates are effective May 1, 2008. The Annual Percentage Yield (APY) shown above indicates what would be earned if the interest rate remained the same for a 12 month period on a 6 month certificate. Early withdrawal penalty on 6 month certificate - 90 days loss of interest. Early withdrawal penalty on 12, 18, 24, 30, 36, 48 & 60 month certificates — 180 days loss of interest.

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Mortgage Rates
May 09, 2008

Option 1 offers you many types of real estate loans including full-service mortgages for home purchases or refinancing. The rates quoted here are indications only and are based on certain underwriting criteria. We update our mortgage rates here on every business day that a rate change occurs, but all rates are subject to change without notice.

Please call our mortgage staff directly: Julie Hielkema at 800.323.2129 or send an email to: julieh@option1cu.org for more information.

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Conventional Fixed Rate Mortgages — up to $417,000.00

*APR is based on a loan amount of $100,000.00 and a 30-day rate lock. Stated rates are based on a loan amount of $50,000 or higher.
Maximum Loan: $417,000.00, Minimum Loan: $10,000.00. Loans under $50,000 require a $500.00 origination fee.

Primary Residence, Vacation Home, & Owner Occupied Duplex:
Purchase: 5% down payment required from borrowers own funds.
Cash-Out Refinance: Borrow up to 90% of appraised value.

Investment Properties: 10% down: 2.5 points, 15% down: 2 points, 20% down: 1.5 points
Purchase: 10% down payment required from borrowers own funds.
Cash-Out Refinance: Borrow up to 90% of the appraised value.

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Jumbo Fixed Rate Mortgages — over $417,000.00

**APR is based on a loan amount of $417,000.00
Maximum Loan: $650,000.00, Minimum Loan: $417,000.00

Purchase: 5% down payment required for loans $417,000 or more. 10% down payment required for loans over $1,000,000.00 20% down payment required for loans over $200,000,000.00
Cash-Out Refinance: Borrow up to 70% of appraised value (maximum cash out: $400,000).

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First Time Homebuyer 3% Down Fixed Rate Mortgages

*APR is based on a loan amount of $100,000. Stated rates are based on a loan amount of $50,000 or higher, with a 30- day rate lock.
Maximum Loan: $417,000.00, Minimum Loan: $10,000.00. Loans under $50,000 require a $500.00 origination fee.

This loan is only for purchase transactions on one unit primary residences or condos. 3% down payment required from borrowers funds, gift or secured loan.

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All 30 year, 20 year and 15 year Fixed Rate Mortgages are fully amortizing loans. The rate will be fixed for the full term of the loan and your monthly principal and interest payments will be level for the term of the loan. There is no prepayment penalty if the loan is paid off before maturity.