|
Rate and Fee Schedule
This Rate and Fee Schedule sets forth certain conditions, rates, fees and charges applicable to your share accounts at the Credit Union at this time. The Credit Union may offer other rates and fees or ammend the rates and fees contained in this schedule from time to time.
Current share rates are available here.
Truth-in-Savings Account Disclosures:
- Rate Information - The Divided Rate and Annual Percentage Yield (APY) on your accounts are stated above. The APY 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. The Dividend Rate and APY may change monthly as determined by the Board of Directors. <back to top>
- Nature of Dividends - Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period. The Dividend Rate and APY are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period. <back to top>
- Compounding and Crediting - Dividends will be compounded and credited as stated above. The Dividend Period for all accounts is monthly beginning on the first calendar day of the month and ending on the last calendar day of the month. <back to top>
- Accrual of Dividends - Dividends will begin to accrue on cash and noncash deposits (e.g. checks) on the business day you make the deposit to your account. <back to top>
- Balance Information - The minimum balance required to open each account is stated above. For accounts using the average daily balance method, dividends are calculated by applying a 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 principal in the account for each day of the period and dividing that figure by the number of days in the period. If the minimum average balance is not met, you will not ear the stated APY. <back to top>
- Account Limitations - For Christmas Club accounts, the entire balance will be paid to you by transfer to another account of yours during October of each year and the account will remain open. For share accounts, no more than six (6) pre-authorized automatic, or telephone transfers may be made from your share account to another account of yours or to a third party in any month, and no more than (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 will be subject to a fee of $1.00 per transfer for each transfer that exceeds three (3) in one month. <back to top>
-
Bylaw Requirements - The par value of each share is $5.00 and this amount is the minimum balance in Regular Shares to maintain membership. <back to top>
Account Fees Disclosure:
| Share Draft Fees <back to top> |
| Share Draft Printing |
Prices vary depending on style |
| NSF Fee |
$35.00 |
| Overdraft transfer fee (per excess transfer) |
$1.00 |
| Overdrawn ACH Debit Fee |
$35.00 |
| VISA overdrawn fee (per advance) |
$2.00 |
| Stop Payment |
$25.00 |
| Micro-fiche copy fee |
$2.00 |
| Account reconciliation (per hour) |
$20.00 |
| Other Service Fees <back to top> |
| Wire transfer fee (outgoing in U.S.) |
$20.00 |
| Wire transfer fee (outgoing International) |
$30.00 |
| Statement copy fee |
$2.00 |
| Money order fee |
$1.00 |
| Travelers check fee (per $100.00) |
$1.00 |
| Certified check fee (per check) |
$2.00 |
Deposited Item Return
|
$35.00 |
| Mail Returned for Bad Address |
$1.00 |
| Post Office Address Correction |
$1.00 |
| Legal Processing Fee |
$50.00 |
Funds Availability Disclosure:
- Policy - Our policy is to make funds from your deposits available to you immediately. At that time, you can withdraw the funds in cash, and we will use the funds to pay checks that you have written. For determining the availability of your deposits, every day is a business day except Saturdays, Sundays and federal holidays. If you make a deposit on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit on a day we are not open, we will consider that the deposit was made on the next business day we are open. <back to top>
- Longer Delays May Apply - In some cases, we will not make all of the funds that you deposit by check available to you immediately. Depending on the type of the check that you deposit, funds may not be available until the fifth business day after the day of your deposit. However the first $100 of your deposits will be available immediately.
If we are not going to make all fo the funds from your deposit available immediately, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the day after we receive your deposit.
If you will need the funds from a deposit right away, you should ask us when the funds will be available.
In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:
- We believe a check you deposit will not be paid.
- You deposit checks totaling more than $5,000 on any one day.
- You redeposit a check that has been returned unpaid.
- You have overdrawn your account repeatedly in the last 6 months.
- There is an emergency, such as failure of communications or computer equipment.
- We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the fourth business day after the day of your deposit. <back to top>
- Special Rules for a New Account - If you are a new member, the following special rules will apply during the first 30 days your account is open.
Funds from electronic direct deposits into your account will be available on the day we receive the deposits. Funds from deposits of cash, wire transfers and the first $5,000 of a day's total deposits of cashier's, certified, teller's, traveler's and federal, state and local government checks will be available immediately if the deposit meets certain conditions. For example, the checks must be payable to you (and you may have to use a special deposit slip). The excess over $5,000 will be available on the ninth business day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,000 will not be available until the second business day after the day of your deposit.
Funds from all other check deposits will be available on the seventh businss day after the day of your deposit. <back to top>
All rates and fees effective as of 04/01/08.
|
