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Truth-in-Savings Disclosure

Last Dividend Declaration Date: 

The rates, fees and terms applicable to your account at the Credit Union are provided with this Truth-in-Savings Disclosure. The Credit Union may offer other rates for these accounts from time lo time.

Rate Schedule
Account TypeDividendsBalance RequirementsAccount Limitations
Dividend Rate/ Annual Percentage Yield (APY)Dividends
Minimum Opening DepositMinimum Balance to Avoid a Service FeeMinimum Balance to Earn the Stated APYBalance Method to Calculate Dividends
Basic Savings/QuarterlyQuarterlyQuarterly (Calendar)$50.00-$50.00Average Daily BalanceAccount transfer and withdrawal limitations apply.
Youth Savings/QuarterlyQuarterlyQuarterly (Calendar)$5.00-$50.00Average Daily BalanceAccount transfer and withdrawal limitations apply.
Special Savings/QuarterlyQuarterlyQuarterly (Calendar)--$50.00Average Daily BalanceAccount transfer and withdrawal limitations apply.
Christmas Savings/QuarterlyQuarterlyQuarterly (Calendar)--$50.00Average Daily BalanceAccount withdrawal limitations apply.
IRA Savings/QuarterlyQuarterlyQuarterly (Calendar)$5.00-$5.00Average Daily Balance-
Super Draft Checking/QuarterlyQuarterlyQuarterly (Calendar)--$1,000.00Average Daily Balance-
Senior Advantage Checking/QuarterlyQuarterlyQuarterly (Calendar)--$1,000.00Average Daily Balance-
Maximum Access Checking---------
Student Advantage Account---------

Except as specifically described, the following disclosures apply to all of the accounts. All accounts described in this Truth-in-Savings Disclosure are share accounts.

  1. RATE INFORMATION - The annual percentage yield is a percentageerate that reflects the total amount of dividends to be paid on an accountebased on the dividend rate and frequency of compounding for an annualeperiod. For Basic Savings, Youth Savings, Special Savings, ChristmaseSavings, IRA Savings, Super Draft Checking, and Senior AdvantageeChecking accounts, the dividend rate and annual percentage yieldemay change quarterly as determined by the Credit Union's Board of Directors. The dividend rates and annual percentage yields are the rateseand yields as of the last dividend declaration date that is set forth in theeRate Schedule.e
  2. NATURE OF DIVIDENDS - Dividends are paid from currenteincome and available earnings after required transfers to reserves atethe end of the dividend period.e
  3. DIVIDEND COMPOUNDING AND CREDITING - The compoundingeand crediting frequency of dividends and the dividend period applicableeto each account are stated in the Rate Schedule. The dividend period isethe period of time at the end of which an account earns dividend credit.eThe dividend period begins on the first calendar day of the period andeends on the last calendar day of the period.e
  4. ACCRUAL OF DIVIDENDS - For all earning accounts, dividends willebegin to accrue on noncash deposits (e.g. checks) on the business dayeyou make the deposit to your account.e
  5. BALANCE INFORMATION -To open any account, you mustedeposit or already have on deposit the minimum required share(s) in any account. Some accounts may have additional minimum openingedeposit requirements. The minimum balance requirements applicableeto each account are set forth in the Rate Schedule. For Basic Savings,eYouth Savings, Special Savings, Christmas Savings, IRA Savings, SupereDraft Checking, and Senior Advantage Checking accounts, there is aeminimum average daily balance required to earn the annual percentageeyield disclosed for the dividend period. If the minimum average dailyebalance requirement is not met. you will not earn the annual percentageeyield stated in the Rate Schedule. For accounts using the average dailyebalance method as stated in the Rate Schedule, dividends are calculatedeby applying a periodic rate to the average daily balance in the account forethe dividend period. The average daily balance is calculated by adding theeprincipal in the account for each day of the period and dividing that figureeby the number of days in the period.e
  6. ACCOUNT LIMITATIONS - For Basic Savings, Youth Savings, andeSpecial Savings accounts, you may make no more than six (6) transferseand withdrawals from your account to another account of yours or toea third party in any month by means of a preauthorized, automatic,eor Internet transfer, by telephonic order or instruction, or by check, draft, debit card or similar order. II you exceed these limitations, your account may be subject to a lee or be closed. For Christmas Savings accounts, the entire balance will be paid to you by check or transferred to another account of yours on or after October 31 and the account will remain open. You may not make withdrawals from your account at any other time. If you wish to access the funds in your Christmas Savings account, you may close it. If you close your account, you will be charged a fee as stated in the Fee Schedule. However, no fee will be charged if the withdrawal occurs within seven (7) days of the date the account is opened. For Youth Savings accounts, members must be under age 18. Upon reaching the age of 1 B, the account will be converted to a Basic Savings account and a minimum balance of $50.00 will be required. For IRA Savings, Super Draft Checking, Senior Advantage Checking, Maximum Access Checking, and Student Advantage accounts, no account limitations apply.
  7. FEES FOR OVERDRAWING ACCOUNTS - Fees for overdrawing your account may be imposed on each check, draft, item, ATM transactioneand one-time debit card transaction (if member has consented to overdraft protection plan for ATM and one-time debit card transactions),epreauthorized automatic debit, telephone initiated withdrawal or anyeother electronic withdrawal or transfer transaction that is drawn on an insufficient available account balance. The entire balance in your accountemay not be available for withdrawal, transfer or paying a check, draft or item. You may consult the Funds Availability Policy Disclosure for information regarding the availability of funds in your account. Fees 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. Please refer to the Fee Schedule for current fee information. For ATM and one-time debit card transactions, you must consent to the Credit Union's overdraft protection plan in order for the transaction amount to be covered under the plan. Without your consent, the Credit Union may not authorize and pay an overdraft resulting from these types of transactions. Services and fees for overdrafts are shown in the document the credit union uses to capture the member's opt-in choice for overdraft protection and the Schedule of Fees and Charges.
  8. MEMBERSHIP - As a condition of membership, you must purchase and maintain the minimum required share(s) and pay a nonrefundable membership lee as set forth below.
    Par Value of One Share: $50.00 must be paid within 90 days of initial membership
    Number of Shares Required: 1
    Membership Fee: $1.00 applies to each owner of a joint account
  9. RATES - The rates appearing with this Schedule are accurate as of the last dividend declaration date indicated on this Truth-in-Savings Disclosure. If you have any questions or require current rate information on your accounts, please call the Credit Union.