Truth-in-Savings Disclosure
Rate Information:
The dividend rate and annual percentage yield may change every dividend period. We may change the dividend rate for your account as determined by the credit union board of directors.
Compounding and crediting- Dividends will be compounded every month. Dividends will be credited to your account every month.
Dividend period- For this account type, the dividend period is monthly, for example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period, and for the example above is February 1.
If you close your share account before dividends are paid, you will not receive the accrued dividends.
Minimum balance requirements:
The minimum required to open this account is the purchase of one share in the credit union. Please see the bylaw requirements in the Common Features section for additional information.
You must maintain a minimum daily balance of $25.00 in your account each day to obtain the disclosed annual percentage yield.
Daily balance computation method- Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day.
Accrual of dividends on deposits- Dividends will begin to accrue on the first day after the banking day you make a deposit.
Transaction limitations:
During any month, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized or automatic transfer, telephonic order or instruction, or similar order to a third party. If your exceed the transfer limitations set forth above, your account will be subject to closure by the credit union.
Par value of a share:
The par value of a share in this account is $5.00.
Your account may be considered inactive or dormant if (a) your mail is returned to the credit union as undeliverable, or (b) your account falls below the minimum applicable balance, or (c) you have not made a withdrawal from, deposit to, or transfer involving your account for more than a period specified in our separate fee schedule. The credit union may assess a service fee for continuing to process your dormant account as specified in our separate fee schedule. You authorize us to transfer funds from any account which you own individually or jointly to cover any service fees, if applicable.
If a deposit or withdrawal has not been made on the account and the credit union has had no other sufficient contact with you within the period specified by state law, the account will be presumed abandoned. Abandoned funds will be reported and remitted according to state law. The credit union has no further liability to you for funds remitted to the state, and if you choose to reclaim such funds, you must apply to the appropriate state agency.
SECONDARY SHARE ACCOUNT
Rate Information:
The dividend rate and annual percentage yield may change every dividend period. We may change the dividend rate for your account as determined by the credit union board of directors.
Compounding and crediting- Dividends will be compounded every month. Dividends will be credited to your account every month.
Dividend period- For this account type, the dividend period is monthly, for example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period, and for the example above is February 1.
If you close your share account before dividends are paid, you will not receive the accrued dividends.
Minimum balance requirements:
No minimum balance requirements apply to this account.
Daily balance computation method- Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day.
Accrual of dividends on deposits- Dividends will begin to accrue on the first day after the banking day you make a deposit.
Transaction limitations:
During any month, you may not make more than six withdrawals or transfers to another credit union account of your or to a third party. If you exceed the transfer limitations set forth above, your account will be subject to closure by the credit union.
INSURED MONEY MARKET ACCOUNT
Rate Information- The interest rate and annual percentage yield may change at any time, as determined by the credit union board of directors.
Compounding and crediting- Interest will be compounded every month. Interest will be credited to your account every month.
Effect of closing an account- If you close your deposit account before interest is paid, you will not receive the accrued interest.
Minimum balance requirements:
No minimum balance requirements apply to this account.
Daily balance computation method- Interest is calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day.
Accrual of interest on deposits- Dividends will begin to accrue on the first day after the banking day you make a deposit.
Transaction limitations:
During any month, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a telephonic order or instruction or similar order to a third party. If you exceed the transfer limitations set forth above, your account will be subject to closure by the credit union.
CHRISTMAS CLUB ACCOUNT
Rate Information:
The dividend rate and annual percentage yield may change every dividend period. We may change the dividend rate for your account as determined by the credit union board of directors.
Compounding and crediting- Dividends will be compounded every month. Dividends will be credited to your account every month.
Dividend period- For this account type, the dividend period is monthly, for example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period, and for the example above is February 1.
If you close your share account before dividends are paid, you will not receive the accrued dividends.
Minimum balance requirements:
No minimum balance requirements apply to this account.
Daily balance computation method- Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day.
Accrual of dividends on deposits- Dividends will begin to accrue on the first day after the banking day you make a deposit.
Transaction limitations:
During any month, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a telephonic order or instruction or similar order to a third party. If you exceed the transfer limitations set forth above, your account will be subject to closure by the credit union.
The balance in your Christmas Club account will automatically be transferred to your Primary Share account on November 1 of each year.
CHECKING ACCOUNT
(MONEY MANAGER, MONEY MANAGER PLUS, PRIORITY, DIRECT)
Rate Information- The interest rate and annual percentage yield may change at any time, as determined by the credit union board of directors.
Compounding and crediting- Interest will be compounded every month. Interest will be credited to your account every month.
If you close your deposit account before interest is paid, you will not receive the accrued interest.
Minimum balance requirements:
You must maintain a minimum daily balance of $500.00 in your account each day to obtain the disclosed annual percentage yield.
Daily balance computation method- Interest is calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day.
Accrual of interest on deposits- Interest will begin to accrue on the first day after the banking day you make a deposit.
Transaction limitations:
No transaction limitations apply to this account unless otherwise stated in the Common Features section.
COMMON FEATURES
Bylaw requirements: You must complete payment of one share in your Primary Shares account as a condition of admission to membership.
Public funds or institutional money may be accepted for deposit at the discretion of the credit union.
Transaction limitation- We reserve the right to at any time require not less than seven days notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D.
Nature of Dividends- Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.
National Credit Union Share Insurance Fund- Member accounts in this credit union are federally insured by the National Credit Union Share Insurance Fund.
Please refer to our separate fee schedule for additional information about charges.
Please see a separate rate schedule for additional information about rates.
Certificates are available. Please see our new accounts personnel for details.
