Truth-In-Savings Disclosure
Member 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 quarter. Dividends will be credited to your account every quarter.
Dividend Period
For this account type, the dividend period is quarterly, 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 March 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the last day of the dividend period, and for the example above is March 31. If you close your account before dividends are paid, you will not receive the accrued dividends.
Minimum Balance Requirements
The minimum balance required to open this account is $5.00. You must maintain a minimum average daily balance of $5.00 in your account to obtain the disclosed annual percentage yield.
Average Daily Balance Computation Method
Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that period by the number of days in the period. The period we use is the quarterly statement cycle.
Accrual of Dividends on Noncash Deposits
Dividends will begin to accrue on the business day you place non cash items (for example, checks) to your account.
Par Value of a Share
The par value of a share in this account is $5.00.
Freedom Checking Account (74)
Minimum Balance Requirement
The minimum balance to open this account is $1.00.
Dividends
Dividends are not paid on this account type.
Statement Cycle
Monthly paper or online statements.
Transaction Limitations
No transaction limitations apply to this account unless otherwise stated in the Common Features section.
Genesis Checking (75)
Minimum Balance Requirement
NO minimum balance requirement
Dividends
Earns competitive dividends (compounded monthly) with a $100.00 minimum
Statement Cycle
Monthly paper or online statements
Transaction Limitations
No transaction limitations apply to this account unless otherwise stated in the Common Features section.
Start Fresh Checking (76)
Minimum Balance Requirement
NO minimum balance requirement
Dividends
Dividends are not paid on this account type.
Statement Cycle
Monthly paper or online statements. Direct Deposit is required.
Fees and Charges
Monthly Service Fee of $12.95
Transaction Limitations
No transaction limitations apply to this account unless otherwise stated in the Common Features section.
Premier Checking Account (78)
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 is the last day of the dividend period, and for the example above is January 31.
Minimum Balance Requirements
The minimum balance required to open this account is $25.00. You must maintain a minimum average daily balance of $1500.00 in your account or an aggregated daily balance of $5,000.00 or more to avoid a service charge fee. If, during any month, your average daily balance is below the required minimum, your account will be subject to a service charge fee of $10.00 for that month. You must maintain a minimum average daily balance of $250.00 in your account to obtain the disclosed annual percentage yield.
Average Daily Balance Computation Method
Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that period by the number of days in the period. The period we use is the monthly statement cycle.
Accrual of Dividends on Noncash Deposits
Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.
Transaction Limitations
No transaction limitations apply to this account unless otherwise stated in the Common Features section.
Prime Checking Account (70)
(55 years of age and older)
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 is the last day of the dividend period, and for the example above is January 31.
Minimum Balance Requirements
The minimum balance required to open this account is $25.00. You must maintain a minimum average daily balance of $250.00 in your account to obtain the disclosed annual percentage yield.
Average Daily Balance Computation Method
Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that period by the number of days in the period. The period we use is the monthly statement cycle.
Accrual of Dividends on Noncash Deposits
Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.
Transaction Limitations
No transaction limitations apply to this account unless otherwise stated in the Common Features section.
Fees and Charges
If you do not maintain an average daily balance of $500.00 in checking OR have a monthly direct deposit, a service charge fee of $5.00 will be charged each month.
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 quarter. Dividends will be credited to your account every quarter.
Dividend Period
For this account type, the dividend period is quarterly, 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 March 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the last day of the dividend period, and for the example above is March 31. If you close your account before dividends are paid, you will not receive the accrued dividends.
Minimum Balance Requirements
The minimum balance required to open this account is $5.00. You must maintain a minimum average daily balance of $1.00 in your account to obtain the disclosed annual percentage yield.
Average Daily Balance Computation Method
Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that period by the number of days in the period. The period we use is the quarterly statement cycle.
Accrual of Dividends on Noncash Deposits
Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.
Transaction Limitations
You may not make any 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.
Fees and Charges
An excessive withdrawal fee of $5.00 per $100.00 increments will be charged. This fee will not apply if the withdrawal is made during June or July for the vacation clubs or during November or December for the Christmas clubs.
IRA Savings 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 quarter. Dividends will be credited to your account every quarter.
Dividend Period
For this account type, the dividend period is quarterly, 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 March 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the last day of the dividend period, and for the example above is March 31. If you close your account before dividends are paid, you will not receive the accrued dividends.
Minimum Balance Requirements
The minimum balance required to open this account is $25.00. You must maintain a minimum average daily balance of $1.00 in your account to obtain the disclosed annual percentage yield.
Average Daily Balance Computation Method
Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that period by the number of days in the period. The period we use is the quarterly statement cycle.
Accrual of Dividends on Noncash Deposits
Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.
Transaction Limitations
You may not make any 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.
Term Share Certificate
Effect of Closing an Account
If you close your account before dividends are paid, you will not receive the accrued dividends.
Minimum Balance Requirements
The minimum balance required to open this account is $500.00. You must maintain a minimum average daily balance of $500.00 in your account to obtain the disclosed annual percentage yield.
Average Daily Balance Computation Method
Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that period by the number of days in the period.
Accrual of Dividends on Noncash Deposits
Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.
Transaction Limitations
The minimum amount you can deposit is $500.00. You may make withdrawals from your account before maturity. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty. If this is an IRA Term Share Certificate, you may not withdraw dividends before maturity.
Early Withdrawal Penalties
A penalty may be imposed for withdrawals before maturity if your account has an original maturity of 12 months or less: The penalty we may impose will equal 90 days dividends on the amount withdrawn subject to penalty. If your account has an original maturity of 13 to 24 months: The penalty we may impose will equal 180 days dividends on the amount withdrawn subject to penalty. If your account has an original maturity of 25 months or more: The penalty we may impose will equal 365 days dividends on the amount withdrawn subject to penalty.In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. See your plan disclosure if this account is part of an IRA or other tax qualified plan.
Common Features
Bylaw Requirements
You must complete payment of one share in your Membership Share account as a condition of admission to membership.
Transaction Limitations
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. (This disclosure further explains the dividend feature of your non-term share account(s).)
National Credit Union Share Insurance Fund
Member accounts in this credit union are federally insured by the National Credit Union Insurance Fund.