Except as specifically described, the following disclosures apply to all of the accounts in this Rate & Fee Schedule are share accounts.
- 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 and Annual Percentage Yield may change at any time as determined by the Credit Union's Board of Directors. The Dividend Rates and Annual Percentage yields are the rates and yields as of the last dividend declaration date, which is set forth in this Rate & Fee Schedule.
- Nature of Dividends
Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period.
- Dividend Compounding and Crediting
The compounding and crediting of dividends and dividend period applicable are set forth in this Rate & Fee Schedule. The Dividend Period is the period of time at the end of which an account earns dividend. The Dividend Period begins on the first Calendar day of the period and ends on the last calendar day of that period.
- 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. For all accounts, if you close your account before accrued dividends are accredited, accrued dividends will not be paid.
- Balance Information
The minimum balance requirements applicable to each account are set forth in the Rate Schedule. For Regular Share accounts there is a minimum daily balance required to obtain the Annual Percentage Yield. If the minimum daily balance is not met, you will not earn stated Annual Percentage yield. For all Share types using the Daily Balance method, dividends are calculated by applying a periodic rate to the daily balance in the account each day.
- Account limitations
For all accounts, no more than six(6) pre-authorized, 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 fee. For Regular Share accounts, six(6) withdrawals per month are allowed, after which a fee may be imposed.
