Current rates and
fees are listed on separate
Except as specifically described, the following
disclosures apply to all of the accounts. All
accounts described in this disclosure are share
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 at any time 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. Dividend Compounding and Crediting.
The compounding and crediting of dividends and
dividend period applicable to each account are
set forth 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
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. The
minimum balance requirements applicable to each
account are set forth in the rate schedule.
For Savings accounts, there is a minimum balance
in all accounts required. For all accounts using
a Daily Balance method, dividends are calculated
by applying a daily periodic rate to the principal
in the account each day.
6. Account Limitations. For
Savings accounts, no more than six (6) preauthorized,
automatic, or telephone transfers may be made
from the account to another account of yours
or to a third party in any month, and no more
than three (3) of those 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 a Holiday Club Savings account, the entire
balance will be paid to you by check or transferred
to another account of yours on or after November
1 and the account will remain open. If you withdraw
any of the account balance at any time, we will
close your account and pay you the full account
balance. For Checking accounts, no account limitations