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Regular Share Account Disclosure


Dividend Rate:

The credit union uses a daily dividend method to compute dividends. The prospective dividend rate for the current period is:

Balances & Rates:

The first $5 & up- 0.35% APYE

Variable Rate Accounts:

The dividend rate and annual percentage yield may change anytime as determined by the credit union's board of directors.

Compounding:

will be compounded QUARTERLY and credited QUARTERLY. The dividend period is QUARTERLY. Quarterly dividends are calculated January through March, April through June, July through September and October through December. The dividend declaration date is the date the credit union's board of directors declares a dividend for the current dividend period.

Effect of Closing an Account:

If you close your account before dividends are paid, you will not be paid the accrued dividends for the period.

Minimum Balance and Requirements to Earn Dividends

Regular share accounts must maintain a minimum balance of $5.00. A $5.00 minimum deposit is required to open an account and a $5.00 minimum balance is needed to keep an account open.

Dividends and APYE

Dividends are calculated using the daily dividend - threshold rate method. This method applies a periodic rate to the average daily balance in the account for the quarter. The tiers and rates are listed in paragraph one above. The APYE shown on the statement reflects the overall earnings rate on all funds for the period.

Fee Schedule

ACH Return Item ......................................... $15.00

Check Return Item ....................................... $ 5.00

Loan Late Payment Fee (over 15 days late) .... $15.00

Single Loan Application ................................ $10.00

Joint Loan Application ................................... $15.00

Unscheduled ACH Transfer (outgoing) ............ $ 5.00

Online Banking Transfer Out .......................... $0.50

Outgoing Wire Fee ....................................... $10.00

 

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