SAVINGS FUND OF THE NETHERLANDS REFORMED CONGREGATIONS IN UNITED STATES

The following information is given regarding this fund in the U.S.A.

1. A Savings Fund of the Netherlands Reformed Congregations in the U.S.A. (Non Profit Corp.)

2. Depository: The Prospect Park National Bank, Wayne, New Jersey 07470

3. Interest rate payable to depositors for the year ending 6/30/79 was set at 6%.

4. Procedures of the U.S.A. Savings Fund

A. Members of the Netherlands Reformed Congregations, Organized Churches or Organizations affiliated with said congregations desiring to deposit money in the Savings Fund should forward same to the Treasurer, Peter Southway, 187 Glen-wood Drive, North Haledon, New Jersey 07508. All monies received would immediately be deposited into the savings account.

B. Immediately upon receipt of any monies, the treasurer will prepare a promissory note stating amount received and rate of interest to be paid. The note will be signed by any two officers of the Fund. Depositors should furnish the committee with social security number or taxpayer identification number.

C. Each Year the interest rates payable to depositors will be fixed by the directors of the Fund and paid out annually on June 30th.

D. The deposits shall be for a minimum of $500.00 with multiples of $100.00 thereafter.

E. All promissory notes will be payable on demand subject to six months written notice of withdrawal. Emergency withdrawal request will receive special consideration.

F. Redemption of the promissory notes will be handled in the following manner:

Six months after the treasurer has been notified of depositors intent to withdraw, the depositor must forward the promissory note to the treasurer for redemption. A check will be forwarded for the principal amount plus interest from the last payment date.

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