Share
and Share Draft Accounts
Truth-In-Savings
Account Disclosure
Except
as specifically described, the following disclosures apply to all of
the above accounts.
1.
Rate Information. The Dividend Rate and Annual Percentage Yield
on your accounts as of the last Dividend Declaration Date are set
forth above. 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 a
365-day period. The Dividend Rate and Annual Percentage Yield may
change monthly as determined by the Credit Union's Board of
Directors.
2.
Nature of Dividends. Dividends are paid from current income and
available earnings after required transfers to reserves at the end
of a dividend period.
3.
Compounding and Crediting. Dividends will be compounded and
credited as set forth above. The Dividend Period for each account is
set forth above. The Dividend Period begins on the first calendar
day of each month and ends on the last calendar day of each month.
4.
Accrual of Dividends. Dividends will begin to accrue on cash
deposits and non cash deposits (e.g. checks) on the business day you
make the deposit to your account. Except for a Certificate account,
if you close your account before accrued dividends are credited,
accrued dividends will not be paid.
5.
Balance Information. The minimum balance required to open each
account is set forth above. Minimum balances are calculated using
the Average Daily Balance method. Dividends are also calculated
using the Average Daily Balance method. The Average Daily Balance
method 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 that period.
6.
Account Limitations. Account limitations for each account are
set forth above. For a Share Savings account in which transfer
limitations apply, no more than 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 subject to a fee or be closed.
Account
Service Fees
Savings
Account Fees
