*APY = Annual Percentage Yield. Rates are subject to change. APY is accurate as of the last dividend declaration date. The Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union's Board of Directors.
NCUA: Your deposits are federally insured by the National Credit Union Administration (NCUA) to at least $250,000 and backed by the full faith and credit of the United States Government.
Rate Information: The disclosed dividend rate and APY are those that were offered within the most recent thirty calendar days. The dividend rate and APY on Rising Rate Certificate Accounts may change once during the original term of the Certificate at the member’s option, in which event the rate of the Certificate will change to the current rate being offered on Certificates of the same term at the time that the Rising Rate option is exercised.
The Rising Rate option is not available during any renewal term. The dividend rate and APY on all other Certificate Accounts are fixed and will be paid until the first maturity date on the Certificate.
Business Certificate Accounts: Business Certificate Accounts are available at 12, 24,36, 48, and 60-month terms only.
Minimum Balance Requirements: To open any account, you must deposit or already have an existing savings or checking account. The minimum balance requirements applicable to each account are stated above. If the minimum daily balance is not met each day of the dividend period, you will not earn the stated Annual Percentage Yield. The minimum balance for the 90 Day Jumbo is $50,000, and all other Certificate Terms is $500.
Transaction Limitations: After your account is opened, you may make withdrawals, however penalties may apply. Deposits are not permitted during the term of the certificate. You may withdraw dividends that have been paid without penalty.
Maturity: Your account will mature as stated on your Account Receipt or Renewal Notice.
Early Withdrawal Penalty: Your account will mature after the maturity date stated on your Certificate Account as set forth above. We will impose a penalty if you withdraw any of the funds in your Certificate Account prior to the maturity date. The penalty shall be equal to 90 days of dividends for Terms of less than 12 months and 180 days of dividends for Terms 12 months or greater.
You may not make partial withdrawals of principal prior to the maturity date. No penalty will be imposed if withdrawal of principal is made following your death or your total and permanent adjudicated disability.
How the Penalty Works: The renewal policy for your accounts is stated in the Rate Schedule. For Certificate accounts, your account will automatically renew for another term upon maturity. You have a grace period of ten (10) days after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty.
Withdrawal of Dividends Prior to Maturity: Dividends paid during any month may be withdrawn without penalty. The Annual Percentage Yield is based on an assumption that dividend will remain in the account until maturity. A withdrawal will reduce earnings.
Renewal Policies: The renewal policy for your accounts is stated in the Rate Schedule. For Certificate accounts, your account will automatically renew for another term upon maturity. You have a grace period of ten (10) days after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty.
Nontransferable/Nonnegotiable: Your account is nontransferable and nonnegotiable.
Nature of Dividends: Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.
Compounding and Crediting: The dividend period is the Accounts Term. It begins from the date that your Account is opened and ends on the stated maturity date unless renewed, and dividends will be compounded monthly and will be credited monthly. Your annual percentage yield assumes dividends will remain on deposit until maturity. A withdrawal will reduce earnings. Accrued dividends (less any early withdrawal penalty) will be paid when you close your Account.
Balance Computation Method: For dividend bearing Accounts, dividends are calculated by the daily balance method which applies a daily periodic rate to the principal in your account each day.
Accrual of Dividends: For dividend bearing accounts, dividends will begin to accrue on the business day that you deposit cash and non-cash items (e.g. checks) into your account.
Fees for Overdrawing Accounts: Fees may be imposed on each check, draft, item, ATM Card withdrawal, debit card point of sale, pre-authorized automatic debit, telephone initiated withdrawal or any other electronic withdrawal or transfer transaction that is drawn on an insufficient available account balance. The entire balance in your account may not be available for withdrawal, transfer or paying a check, draft or item. You may consult the Funds Availability Policy for information regarding the availability of funds in your account.
A fee of $30 for overdrawing your account may be imposed for each overdraft, regardless of whether we pay or return the draft, item or transaction. If we have approved an overdraft protection limit for your account, such fees may reduce your approved limit. If a member account goes negative, they have 60 days to repay to return the account to a positive balance. Please refer to the Fee Schedule for current fee information.
Fees and Charges: Any fees and charges applicable to your account are disclosed separately in the Fee Schedule provided in conjunction with this Account Disclosure. Fees could reduce the earnings on an account.
Renewal Policy for 90 Day Internet Special Certificate Account: The minimum opening deposit is $10,000, and interest is credited at maturity. Your certificate will not renew automatically, your certificate funds will be deposited into your savings account. If you do not have a savings account, your funds will be deposited into your checking account.
