Rate Schedule

Rates

TRUTH-IN-SAVINGS DISCLOSURES

The rates, fees and terms applicable to your account at the Credit Union are provided in this Truth-In-Savings Disclosures.  The Credit Union may offer other rates for these accounts from time to time.

Effective Date: 07/15/2008

 

Except as specifically described, the following disclosures apply to all of the accounts.
All accounts described in this Truth-In-Savings Disclosure 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 Annual Percentage Yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period.

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. Dividends Compounding and Crediting. The compounding and crediting frequency of dividends and dividend period applicable to each account are stated 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 non-cash deposits (e.g. checks) on the business day you make the deposit to your account.

5. Balance Information. To open any account you must deposit or already have on deposit at least the par value of one full share in a Share/Savings account.  The par value amount is stated in the Fee Schedule.  Some accounts may have additional minimum opening deposit requirements.  The minimum balance requirements applicable to each account are stated in the Rate Schedule. For Money Market accounts, there is a minimum Daily Balance required to avoid a service fee for the dividend period.  If the minimum daily balance is not met during each day of the dividend period, there will be a service fee as stated in the Rate Schedule.  For all accounts, there is  a minimum Daily Balance required to earn the Annual Percentage Yield disclosed for the dividend period.  If the minimum daily balance is not met each day of the dividend period, you will not earn the stated Annual Percentage Yield.  For accounts using the Daily Balance method as stated on the Rate Schedule, dividends are calculated by applying a daily periodic rate to the balance in the account each day.

6. Account Limitations. For Money Market accounts, no more than six (6) preauthorized automatic, or telephone transfers may be made from each account to another account 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 subject to a fee or be closed.  For Money Market accounts, the minimum withdrawal or transfer out is $500.00.  For Share/Savings, IRA Passbook, club and Share Draft/Checking accounts, no account limitations apply.

FEE SCHEDULE

Share Value

Par value of one share..........................................................$5.00

The rates and fees appearing in this Schedule are accurate as of the Last Dividend Declaration Date indicated on the Truth-In-Savings Disclosure.  If you have any question or require current rate and fee information on your accounts, please call the Credit Union.