SHARE AND DRAFT ACCOUNTS
The rates, fees, and terms applicable to your accountat the Credit Union are provided in this Rate and Fee Schedule. The Credit Union may offer other rate for theses accounts from time to time.
| RATE SCHEDULE |
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Share Savings Accounts |
Vacation Club Account |
Christmas Club Account |
IRA Account |
Share Draft Account |
| Dividends Compounded |
Quarterly |
Quarterly |
Quarterly |
Quarterly |
Quarterly |
| Dividends Credited |
Quarterly |
Quarterly |
Quarterly |
Quarterly |
Quarterly |
| Dividends Period |
Calendar Quarter |
Calendar Quarter |
Calendar Quarter |
Calendar Quarter |
Calendar Quarter |
| BALANCE REQUIREMENTS |
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| Minimum Opening Deposit |
$15.00 |
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--- |
--- |
$100.00 in shares |
| Minimum Balance to Avoid a Service Fee |
--- |
--- |
--- |
--- |
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| Minimum Balance to Earn the Stated APY |
$100.00 |
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--- |
--- |
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| Balance Method |
Average Daily Balance |
Average Daily Balance |
Average Daily Balance |
Average Daily Balance |
Average Daily Balance |
ACCOUNT LIMITATIONS
See Section 6 below |
Account limitations apply |
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TRUTH-IN-SAVINGS ACCOUNT DISCLOSURES
Except as specifically described, the following disclosures apply to all
of the accounts. All accounts described in this Rates & Fee Schedule are share
accounts
1. Rate information. The Annual Percentage Yield is a percentage rate
that reflects the total amount of dividends to be paid on an account based on
the dividend rate and frequency of compounding for an annual period. For all
accounts, the Dividend Rate and Annual Percentage Yield may change monthly as
determined by the Credit Union's Board of Directors. The Dividend Rates and
the Annual Percentage Yields as of the last dividend declaration date which
is set forth in the Rate Schedule.
2. Nature of Dividends. Dividends are paid from current income and available
earnings after required transfers to reserves at the end of the dividend period.
3. Dividend Compounding and Crediting. The compounding and crediting
of dividends are divided period applicable to each account are set forth in
the Rate Schedule. The Dividend Period is the period of time at the end of which
an account earns dividend credit.
The Dividend Period begins on the first calendar day of the period and ends
on the last calendar day of the period.
4. Accrual of Dividends. For all accounts, dividends will begin to accrue
on noncash deposits (e.g. checks) on the business day you make the deposit to
your account. For all accounts, if you close your account before accrued dividends
are credited, accrued dividends will not be paid.
5. Balance Information. The minimum balance requirements applicable to
each account are set forth in the Rate Schedule. For Share Savings accounts,
there is a minimum average daily balance required to obtain the Annual Percentage
Yield for the dividend period. If the minimum average daily balance is not met,
you will not earn the stated Annual Percentage Yield. For all accounts using
an Average Daily Balance method, dividends are calculated by applying a periodic
rate to the average daily balance in the account period. The average daily balance
is determined by adding the full amount of principal in the account for each
day of the period and dividing that figure by the number of days in the period.
6. Account Limitations. For share Savings accounts, no more then six
(6) preauthorized, automatic, or telephone transfers may be made from these
accounts to another account of yours or to a third party in any month, and no
more than three (3) of these six (6) transfers may be made by check, draft,
or debit card to a third party. If you exceed these limitations, your account
may be subjected to a fee or be closed. For Vacation Club, Christmas Club, IRA
and Share Draft accounts, no account limitations apply.
| FEE SCHEDULE |
| Share Account Fees |
| |
Share Savings Dormancy fee: |
$1.50 per month if inactive for one (1) year and account balance is under $100.00 |
| Share Draft Account Fees |
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Overdraft fee: |
$10.00 per item. |
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Computer Transfer to Cover Draft fee: |
$10.00 per item. |
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Reconciliation Help fee: |
$10.00 per hour. |
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Stop Payment fee: |
Prices may vary based upon style. |
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Check Copy fee: |
$5.00 per check copy. |
| Other Service Fee (applicable to all accounts) |
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Statement Copy fee: |
$2.00 per copy |
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Deposited Item Return fee: |
$25 per item. |
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Wire Transfer (outgoing) fee: |
$10.00 per transfer. |
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No Address fee: |
$10.00 per month if no address available for more than one (1) year. |
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Money Order fee: |
$1.00 per money item. |
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Travelers Check fee: |
$1.00 per $100.00. |
| Electronic Funds Transfer Fees |
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ATM Withdrawal fee: |
$1.00 per withdrawal. |
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ATM overdraft fee: |
$10.00 per item |
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ATM Transfer fee: |
$20.00 per transfer. |
| Credit Union Membership |
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Membership Share: |
$5.00 per value. |
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Membership fee: |
$6.00. |
CERTIFCATE ACCOUNTS
The rates, fees, and terms applicable to your accountat the Credit Union are provided in this Rate and Fee Schedule. The Credit Union may offer other rate for theses accounts from time to time.
| RATE SCHEDULE |
| Minimum Opening Deposit |
$1,000.00 |
| Dividends Compounded |
Quarterly |
| Dividends Credited |
Quarterly |
| Dividends Period |
Calendar Quarter |
TRUTH-IN-SAVINGS ACCOUNT DISCLOSURES
Except as specifically described, the following disclosures apply to all of the accounts.
1. Rate information. The Annual Percentage Yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. For Certificate accounts, the Dividend Rate and Annual Percentage Yield may are fixed and will be in effect for the term of the account. The Annual Percentage Yield is based on an assumption that dividends will remain on deposit until maturity. A withdrawal of dividends will reduce earnings.
2. Dividends Compounding and Crediting. The compounding are crediting of dividends applicable to each account is set forth in the Rate Schedule. The Dividend Period begins on the first calendar day of the Dividend Period and ends on the last calendar day of the Dividend Period.
3. Balance Information. The minimum balance requirements applicable to each account are set forth in the Rate Schedule. For Certificate accounts, dividends are calculated by the Daily Balance method which applies a daily periodic rate to the principal in the account each day.
4. Accrual of Dividends. For Certificate accounts, dividends will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account.
5. Transaction Limitations. After your account is opened, your ability to make additional deposits to your accounts or withdrawal of dividends and any limitations on such transactions are set forth in the Rate Schedule.
6. Maturity. Your account will mature as indicated on this Rate and Fee Schedule or on Account Receipt Renewal Notice.
Early Withdrawal Penalty. We may impose a penalty if you withdraw any of the principal before the maturity date.
Amount of Penalty. For Certificate Accounts, the amount of the early withdrawal penalty for your accounts reverts your dividend and rate to the Share Account Dividend and Rates.
How the Penalty Works. The penalty is calculated as a forfeiture or part of the dividends that have been or would be earned on the account. It applies whether or not the dividends have been earned. In other words, if the account has not yet earned enough dividends or if the dividend has already been paid, the penalty will be deducted from the principal.
Exceptions to Early Withdrawal Penalties. At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances:
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(i) |
When an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction. |
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(ii) |
Where the account is an Individual Retirement Account (IRA) and any portion is paid within seven (7) days after establishment; or where the account is a Keogh Plan (Keogh) provided that the depositor forfeits an amount of at least equal to the simple dividends earned in the amount withdrawn; or where the account is an IRA or Keogh and the owner attains age 59 1/2 or becomes disabled. |
Renewal Policy. The renewal policy for your accounts is indicated on the reverse side. For Certificate accounts, your account will automatically renew for another term upon maturity. For Certificate accounts, you do not have a grace period after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty.
Nontransferable/Nonnegotiable. Your account is nontransferable and nonnegotiable. The funds in your account may not be pledged to secure any obligation of an owner, except obligations with the Credit Union.
The rates and fees appearing in this schedule are accurate and effective for deposit accounts as of the Effective Date indicated on this Rate and Fee Schedule. If you have any questions or require current rate and fee information on your accounts, please call the Credit Union.
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