Checking and Savings

The rates, fees and terms applicable to your Account at the Credit Union are provided in the Rate & Fee Schedule. The Credit Union may offer other rates for these Accounts from time to time.

For complete account disclosures, click here.

EFFECTIVE DATE: October 21, 2020

	Div Rate %	(APY) %	Div Compd	Div Credit	Div Period	Min Balance	Min Balance Avoid Charge	Min Balance to Earn APY	Balance Method	Limit
Regular Savings	0.05	0.05	Monthly	Monthly	Cal Monthly	$25	NA	$25+	ADB
Christmas Club	0.05	0.05	Monthly	Monthly	Cal Monthly		NA	$25	ADB
Promotional Savings	0.70	0.70	Monthly	Monthly	Cal Monthly	$5,000	NA	$5,000+	ADB	*
Checking Account	0.05	0.05	Monthly	Monthly	Cal Monthly		$0	$1,000	ADB	**
“Count in College”	.90	.90	Monthly	Monthly	Cal Monthly		NA	$25	ADB	***
Money Market	0.05	0.05	Monthly	Monthly	Cal Monthly	$25	NA	$25+	ADB	*

“APY” Annual Percent Yield
“ADB” Average Daily Balance
* If Account falls below minimum balance, the Account is automatically closed.
** If Account falls below zero, a $10 service charge will be assessed at the end of the month.
*** Account matures when the member turns 18 years of age.

Except as specifically described, the following disclosures apply to all of the Accounts listed above:

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 except the Promotional Savings, the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union’s Board of Directors.  The Promotional Account is a fixed rate Account for a specified period of time as determined by the Board of Directors.

NATURE OF DIVIDENDS:

Dividends are paid from current income and available earnings after required transfer to reserves at the end of the dividend period.  The Dividend Rates and Annual Percentage Yield are the prospective rates and yields that the Credit Union anticipates paying.

DIVIDENDS 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 the first calendar day of the period and ends on the last calendar day of the period.

ACCRUAL OF DIVIDENDS:

For all accounts, dividends will be gin to accrue on non-cash deposits (e.g. checks) on the business day you make the deposit to your account.  For Savings, Christmas Club and Checking Accounts if you close your Account before accrued dividends are credited, accrued dividends will not be paid.

BALANCE INFORMATION:

The minimum balance requirements applicable to each Account are set forth in the Rate and Fee Schedule.  For Checking Accounts, there is a minimum actual daily balance of $0 or above required to avoid a service fee for the dividend period.  If the minimum actual daily balance is not met, there will be a service fee as set for in the Credit Union’s Fee Schedule.  For Savings, Christmas Club and Checking Accounts, there is a minimum Average Daily Balance required to obtain the Annual Percentage Yield for the dividend period.  If the minimum average daily balance is not met, you will not earn the stated Annual Percentage Yield.  For all accounts using an Average Daily balance method, dividends are calculated by applying the periodic rate to the average daily balance in the Account for the period.  The Average Daily balance is determined by adding the full amount of principle in the Account foe each day of the period and dividing that figure by the number of days in the period.

ACCOUNT LIMITATIONS:

For all Accounts, refer to the Rate Schedule foe applicable Account Limitations.

DIVIDENDS 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 the first calendar day of the period and ends on the last calendar day of the period.

ACCRUAL OF DIVIDENDS:

For all accounts, dividends will be gin to accrue on non-cash deposits (e.g. checks) on the business day you make the deposit to your account.  For Savings, Christmas Club and Checking Accounts if you close your Account before accrued dividends are credited, accrued dividends will not be paid.

BALANCE INFORMATION:

The minimum balance requirements applicable to each Account are set forth in the Rate and Fee Schedule.  For Checking Accounts, there is a minimum actual daily balance of $0 or above required to avoid a service fee for the dividend period.  If the minimum actual daily balance is not met, there will be a service fee as set for in the Credit Union’s Fee Schedule.  For Savings, Christmas Club and Checking Accounts, there is a minimum Average Daily Balance required to obtain the Annual Percentage Yield for the dividend period.  If the minimum average daily balance is not met, you will not earn the stated Annual Percentage Yield.  For all accounts using an Average Daily balance method, dividends are calculated by applying the periodic rate to the average daily balance in the Account for the period.  The Average Daily balance is determined by adding the full amount of principle in the Account foe each day of the period and dividing that figure by the number of days in the period.

ACCOUNT LIMITATIONS:

For all Accounts, refer to our account disclosures, click here.