|Savings-Minimum Balance $5.00/Dividends Pay at $25.00||0.0995%||0.100%|
|Checking-Minimum Balance $0||0.000%||0.000%|
|Money Market-Minimum Balance $0/Dividends Pay at $2,500|
|*All Clubs-Minimum Balance $0/Dividends Pay at $25.00||0.0995%||0.1000%|
|IRA Club-Minimum Balance $0/Dividends Pay at $25.00||0.200%||0.200%|
*Christmas clubs may be transferred to savings or checking on September 30th each year
Except as specifically described, the following disclosures apply to all accounts.
- Dividend Rate Information: The Dividend Rate and Annual Percentage Yield on your accounts as of the last dividend declaration date are set forth. 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 the type of account. The Annual Percentage Yield for certificates is based on an assumption the dividends will remain on deposit until maturity. A withdrawal will reduce earnings. The Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union’s Board of Directors.
- 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: Dividends will be compounded and credited as set forth in brochures for regular shares, clubs, drafts and certificate accounts. Brochures may be picked up at the Credit Union.
- Balance Information: Each type of account has its own minimum balance requirements. Call the Credit Union for details. Dividends and minimum balances are calculated using the Average Daily Balance method. 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 that period.
- Accrual of Dividends: Dividends will begin to accrue on cash deposits on the business day you make the deposit to your account. Dividends will begin to accrue on non-cash deposits (e.g. checks) on the business day you make the deposit.