Truth-In-Savings Disclosure
These rates are effective 6/4/2025.
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 to time.
| RATE SCHEDULE | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| ACCOUNT TYPE | DIVIDENDS | BALANCE REQUIREMENTS | ACCOUNT LIMITATIONS | ||||||||
| Interest Rate | Annual Percentage Yield (APY) | Dividends Compounded | Dividends Credited | Dividend Period | Minimum Opening Deposit | Minimum Balance to Avoid a Service Fee | Minimum Balance to Earn the Stated APY | Balance Method to Calculate Dividends | |||
| Savings | [ Show Rate ] | [ Show Rate ] | Monthly | Monthly | Monthly (Calendar) | - | - | $50.00 | Average Daily Balance | - | |
| Checking | [ Show Rate ] | [ Show Rate ] | Monthly | Monthly | Monthly (Calendar) | - | - | $50.00 | Average Daily Balance | - | |
| Premium Checking | $0 - $15,000: [ Show Rate ] $15,000.01 or greater: [ Show Rate ] APR Not Qualified: 0.01% APR |
$0 - $15,000: [ Show Rate ] $15,000.01 or greater: [ Show Rate ] APY Not Qualified: 0.01% APY |
Monthly | Monthly | Monthly (Calendar) | - | - | $0.00 | Average Daily Balance | Requirements apply | |
| Premium Plus Checking | $0 - $20,000: [ Show Rate ] $20,000.01 or greater: [ Show Rate ] APR Not Qualified: 0.01% APR |
$0 - $20,000: [ Show Rate ] $20,000.01 or greater: [ Show Rate ] APY Not Qualified: 0.01% APY |
Monthly | Monthly | Monthly (Calendar) | - | - | Average Daily Balance | Requirements apply | ||
| Cash Bonus Premium Checking For six (6) months from account opening Qualification Met (See Section 2) Qualification Not Met(See Section 2) |
$0 - $15,000: 3.96% $15,000.01 or greater: [ Show Rate ] APR Not Qualified: 0.01% APR |
$0 - $15,000: 4.00% $15,000.01 or greater: [ Show Rate ] APY Not Qualified: 0.01% APY |
Monthly | Monthly | Monthly (Calendar) | - | - | $0.00 | Average Daily Balance | Requirements apply | |
| Cash Bonus Premium Plus Checking For six (6) months from account opening Qualification Met (See Section 2) Qualification Not Met(See Section 2) |
$0 - $20,000: 4.96% $20,000.01 or greater: [ Show Rate ] APR Not Qualified: 0.01% APR |
$0 - $20,000: 5.00% $20,000.01 or greater: [ Show Rate ] APY Not Qualified: 0.01% APY |
Monthly | Monthly | Monthly (Calendar) | - | - | Average Daily Balance | Requirements apply | ||
| Money Market | [ Show Rate ] | [ Show Rate ] | Monthly | Monthly | Monthly (Calendar) | $1000 minimum | - | $1,000.00 | Average Daily Balance | Account transfer and withdrawal limitations apply. | |
| Premier Money Market | $2,500 - $9,999 [ Show Rate ] |
[ Show Rate ] |
Monthly | Monthly | Monthly (Calendar) | $1,000.00 | - | $1,000.00 | Average Daily Balance | ||
| $10,000 - $24,999 [ Show Rate ] |
[ Show Rate ] |
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| $25,000 - $49,999 [ Show Rate ] |
[ Show Rate ] |
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| $50,000 - $99,999 [ Show Rate ] |
[ Show Rate ] |
Account transfer and withdrawal limitations apply. | |||||||||
| $100,000 - $249,999 [ Show Rate ] |
[ Show Rate ] |
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| $250,000 - $499,999 [ Show Rate ] |
[ Show Rate ] |
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| $500,000 - $999,999 [ Show Rate ] |
[ Show Rate ] |
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| $1,000,000+ [ Show Rate ] |
[ Show Rate ] |
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| Teen Savings | [ Show Rate ] | [ Show Rate ] | Monthly | Monthly | Monthly (Calendar) | - | - | - | Average Daily Balance | - | |
| Teen Checking | [ Show Rate ] | [ Show Rate ] | Monthly | Monthly | Monthly (Calendar) | - | - | - | Average Daily Balance | - | |
| Youth Savings | [ Show Rate ] | [ Show Rate ] | Monthly | Monthly | Monthly (Calendar) | - | - | - | Average Daily Balance | - | |
| IRA Savings (Traditional, Roth, Coverdell, and SEP) |
[ Show Rate ] | [ Show Rate ] | Monthly | Monthly | Monthly (Calendar) | - | - | $50.00 | Average Daily Balance | - | |
| HSA Savings | [ Show Rate ] | [ Show Rate ] | Monthly | Monthly | Monthly (Calendar) | - | - | $50.00 | Average Daily Balance | - | |
| HSA Checking | [ Show Rate ] | [ Show Rate ] | Monthly | Monthly | Monthly (Calendar) | - | - | - | Average Daily Balance | - | |
| Holiday Club | [ Show Rate ] | [ Show Rate ] | Monthly | Monthly | Monthly (Calendar) | - | - | $50 minimum balance to earn interest | Average Daily Balance | Account withdrawal limitations apply. | |
| Individual Development | 0.25% | 0.25% | Monthly | Monthly | Monthly (Calendar) | - | - | $50.00 | Average Daily Balance | Account withdrawal limitations apply. | |
| Savings Non-Dividend | - | - | - | - | - | $5.00 | - | - | - | - | |
| Checking Non-Dividend | - | - | - | - | - | - | - | - | - | - | |
| Trust Dividend Savings | 0.15% | 0.15% | Monthly | Monthly | Monthly (Calendar) | $5.00 | - | $50.00 | Average Daily Balance | - | |
| Trust Non-Dividend Savings | - | - | - | - | - | $5.00 | - | - | - | - | |
| Estate Dividend Savings | 0.15% | 0.15% | Monthly | Monthly | Monthly (Calendar) | $5.00 | - | $50.00 | Average Daily Balance | - | |
| Estate Non-Dividend Savings | - | - | - | - | - | $5.00 | - | - | - | - | |
| Trust Dividend Checking | 0.05% | 0.05% | Monthly | Monthly | Monthly (Calendar) | - | - | - | Average Daily Balance | - | |
| Trust Non-Dividend Checking | - | - | - | - | - | - | - | - | - | - | |
| Estate Dividend Checking | 0.05% | 0.05% | Monthly | Monthly | Monthly (Calendar) | - | - | - | Average Daily Balance | - | |
| Estate Non-Dividend Checking | - | - | - | - | - | - | - | - | - | - | |
ACCOUNT DISCLOSURES
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 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 Savings, Checking, Money Market, Premier Money Market, Teen Savings, Teen Checking Youth Savings, IRA Savings (Traditional, Roth, Coverdell and SEP), Health Savings, Health Checking, Holiday Club, Individual Development, Trust Dividend Savings, Estate Dividend Savings, Trust Dividend Checking and Estate Dividend Checking accounts, Premium Checking, Premium Plus Checking, Cash Bonus Premium Checking, and Cash Bonus Plus accounts, the dividend rate and annual percentage yield may change at any time as determined by the Credit Union’s Board of Directors. The dividend rates and annual percentage yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period. Premier Money Market accounts are tiered rate accounts. The balance ranges and corresponding dividend rates and annual percentage yields applicable to each tier are disclosed in the Rate Schedule. For tiered accounts, once a particular range is met, the dividend rate and annual percentage yield for that balance range will apply to the full balance of your account. The Premium Checking, Premium Checking Plus, Cash Bonus Premium Checking, and Cash Bonus Premium Plus Checking accounts are tiered rate accounts. Please refer to section 2 for additional details about these accounts. APY may vary by market.
2. Premium Checking, Premium Checking Plus, Cash Bonus Premium Checking, and Cash Bonus Premium Plus Checking. To meet the minimum qualification requirements, you must: 1) make 15 Debit card (Premium Checking) or Visa Credit card, excluding Home Improvement Visa Cards and Business cards, (Premium Checking Plus) purchases of a minimum average transaction amount of $10.00 that post and settle your account; 2) have one direct deposit of net income of $250 or more settle in your account; 3) be enrolled to receive e-statements. The monthly qualification cycle is defined as one day prior to the first banking day of the current statement cycle through one day prior to the last banking day of the current statement cycle. Account transactions may take one or more business days from the date the transaction was made to post and settle to the account. All transactions must post and settle during the monthly qualification cycle in order to qualify for the account's reward. The following transactions do not count toward earning account rewards: transfers between accounts, transactions made with debit cards/Visa Cards not associated with the Premium Checking, Premium Checking Plus account, Cash Bonus Premium Checking, or Cash Bonus Premium Plus Checking Account. One Premium Checking, Premium Checking Plus, Cash Bonus Premium Account, Cash Bonus Premium Plus account is allowed per social security number. The Premium Checking Plus account will be automatically converted to a Premium Checking account if you do not apply and are not approved for a Visa credit card account within 60 days of account opening.
Premium Checking. The Premium Checking account is a tiered rate account, the dividend rate and annual percentage yield the first dividend rate and annual percentage yield may change at any time as determined by the Credit Union’s Board of Directors. If you meet the minimum qualification requirements during the monthly qualification cycle, the first dividend rate and annual percentage yield listed in the Rate Schedule will apply if your balance from $15,000 and below. The second dividend rate and annual percentage yield listed for this account will apply if your balance is from S15,000.01 or greater. Each dividend rate will apply only to that portion of the account balance within each balance range. If you do not meet all or the minimum qualification requirements during the monthly qualification cycle, the third dividend rate and annual percentage yield as listed in the Rate Schedule will apply to the entire balance in your Premium Checking account. The dividend rates and annual percentage yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period. APY may vary by market.
Premium Checking Plus. The Premium Checking Plus account is a tiered rate account, the dividend rate and annual percentage yield the first dividend rate and annual percentage yield may change at any time as determined by the Credit Union’s Board of Directors. If you meet the minimum qualification requirements during the monthly qualification cycle, the first dividend rate and annual percentage yield listed in the Rate Schedule will apply if your balance from $20,000 and below. The second dividend rate and annual percentage yield listed for this account will apply if your balance is from $20,000.01 or greater. Each dividend rate will apply only to that portion of the account balance within each balance range. If you do not meet all of the minimum qualification requirements during the monthly qualification cycle, the third dividend rate and annual percentage yield as listed in the Rate Schedule will apply to the entire balance in your Premium Checking Plus account. The dividend rates and annual percentage yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period. APY may vary by market.
Cash Bonus Premium CheckingChecking account is available to members who do not currently have a checking account with the credit union. The Cash Bonus Premium Checking account is a tiered rate account, the dividend rate and annual percentage yield may change at any time as determined by the Credit Union’s Board of Directors. For the first six (6) months from account opening, if you meet the minimum qualification requirements during the monthly qualification cycle, the first dividend rate and annual percentage yield listed in the Rate Schedule will apply if your balance is $15,000.00 and below. The second dividend rate and annual percentage yield listed for this account will apply if your balance is $15,000.01 or greater. Each dividend rate will apply only to that portion of the account balance within each balance range. In addition, for the last for (4) months of the six (6) month period, we will provide you cash back incentive of $300.00 if you meet all of the monthly qualification requirements. The cash back incentive will be paid to your account on the third business day of the seventh month after the account has been open for six (6) months. If you do not meet all of the minimum qualification requirements during the monthly qualification cycle, the third dividend rate and annual percentage yield as listed in the Rate Schedule will apply to the entire balance in your Cash Bonus Premium Checking account and for the last of the (4) of the six (6) month period, you will not receive the cash back incentive of $300.00. After six (6) months from account opening, your account will automatically convert to a Premium Checking account at the prevailing rates. The dividend rates and annual percentage yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period.
Cash Bonus Premium Plus CheckingThe Cash Bonus Premium Plus Checking account is available to members who do not currently have a checking account with the credit union. The Cash Bonus Premium Plus Checking account is a tiered rate account, the dividend rate and annual percentage yield the first dividend rate and annual percentage yield may change at any time as determined by the Credit Union’s Board of Directors. For the first six (6) months from account opening, if you meet the minimum qualification requirements during the monthly qualification cycle, the first dividend rate and annual percentage yield listed in the Rate Schedule will apply if your balance is $20,000.00 and below. The second dividend rate and annual percentage yield listed for this account will apply if your balance is $20,000.01 or greater. Each dividend rate will apply only to that portion of the account balance within each balance range. In addition, for the last for (4) months of the six (6) month period, we will provide you cash back incentive of $300.00 if you meet all of the monthly qualification requirements. The cash back incentive will be paid to your account on the third business day of the seventh month after the account has been open for six (6) months. If you do not meet all of the minimum qualification requirements during the monthly qualification cycle, the third dividend rate and annual percentage yield as listed in the Rate Schedule will apply to the entire balance in your Cash Bonus Premium Plus Checking account and for the last of the (4) of the six (6) month period, you will not receive the cash back incentive of $300.00. After six (6) months from account opening, your account will automatically convert to a Premium Checking Plus account at the prevailing rates. The dividend rates and annual percentage yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period.
3. Nature of Dividends: Dividends are paid from current income and available after required transfers to reserves at the end of the dividend period.
4. Dividend Compounding and Crediting: The compounding and crediting frequency of dividends and the dividend period applicable to each account are stated 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 on the first calendar day of the period and ends on the last calendar day of the period.
5. Accrual of Dividends: For all earning accounts, dividends will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account.
6. Balance Information: To open any account, you must deposit or already have on deposit the minimum required share(s) in any account. Some accounts may have additional minimum opening deposit requirements. The minimum balance requirements applicable to each account are set forth in the Rate Schedule. For Savings, Money Market, Premier Money Market, IRA Savings (Traditional, Roth, Coverdell and SEP), Health Savings, Holiday Club, Individual Development, Trust Dividend Savings, Estate Dividend Savings accounts, there is a minimum average daily balance required to earn the annual percentage yield disclosed for the dividend period. If the minimum daily balance requirement is not met each day of the period, you will not earn the annual percentage yield stated in the Rate Schedule. For accounts using the average daily balance method as stated in the Rate Schedule dividends are calculated by applying a a periodic rate to the average daily balance in the account for the dividend period. The average daily balance is calculated by adding the principal in the account each day of the period and dividing that figure by the number of days in the period.
7. Account Limitations: For Money Market and Premier Money Market accounts, you may make no more than six (6) transfers and withdrawals from your account to another account of yours or to a third party in any month by means of a preauthorized, automatic, or Internet transfer, by telephonic order or instruction, or by check, draft, debit card or similar order. If you exceed these limitations, your account may be subject to a fee or be closed. For Holiday Club accounts, the entire balance will be transferred to another account of yours on or after October 1 and the account will remain open. For Holiday Club accounts, If you would like your funds paid to you by check, you must notify us before October 1st. For Individual Development accounts, you may make deposits to your account until you reach your savings goal as established at account opening. Withdrawals may only be made with the approval of the IDA program administrator. For Savings, Checking, Teen Savings, Teen Checking Youth Savings, IRA Savings (Traditional, Roth, Coverdell and SEP), Health Savings, Health Checking, Savings Non-Dividend, Share Draft Non-Dividend, Trust Dividend Savings, Trust Non-Dividend Savings, Estate Dividend Savings, Estate Non-Dividend Savings, Trust Dividend Checking, Trust Non-Dividend Checking, Estate Dividend Checking, and Estate Non-Dividend Checking, Premium Checking, Premium Checking Plus, Cash Bonus Premium Checking, and Cash Bonus Premium Plus Checking accounts, no account limitations apply.
8. Fees for Overdrawing Accounts: Fees for overdrawing your account may be imposed on each check, draft, item, ATM transaction and one-time debit card transaction (if member has consented to overdraft protection plan for ATM and one-time debit card transactions), preauthorized 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 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.
9. Membership: As a condition of membership, you must purchase and maintain the minimum required share(s) as set forth below:
Par Value of One Share: $5.00
Number of Shares Required: 1
10. Rates: The rates appearing with this Schedule are accurate as of the effective 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. APY may vary by market.
11. Fees: See separate fee schedule for a listing of fees and charges applicable to your account(s).
CD Rate Schedule
| CD RATE SCHEDULE | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| CD Type | Interest Rate (%) | Annual Percentage Yield (APY) % | Rate Type | Minimum Opening Deposit | Interest Compounded | Interest Credited | Additional Deposits | Withdrawals | Renewable | |
|
12 months Add-On CD |
N/A [ Show Rate ] [ Show Rate ] |
Fixed | $50 |
Quarterly | Quarterly | Allowed - No Limit | Allowed - See Transaction Limitations Section | Automatic | ||
| 6 months CD 6 month Jumbo |
[ Show Rate ] [ Show Rate ] |
Fixed | $1,000 $100,000 |
Quarterly | Quarterly | Not Allowed | Allowed - See Transaction Limitations Section | Automatic | ||
| 7 months CD 7 month Jumbo |
[ Show Rate ] [ Show Rate ] |
Fixed | $1,000 $100,000 |
Quarterly | Quarterly | Not Allowed | Allowed - See Transaction Limitations Section | Automatic | ||
| 9 month CD 9 month Jumbo |
[ Show Rate ] [ Show Rate ] |
[ Show Rate ] [ Show Rate ] |
Fixed | $1,000 $100,000 |
Quarterly | Quarterly | Not Allowed | Allowed - See Transaction Limitations Section | Automatic | |
| 12 month CD 12 month Jumbo |
[ Show Rate ] [ Show Rate ] |
[ Show Rate ] [ Show Rate ] |
Fixed | $1,000 $100,000 |
Quarterly | Quarterly | Not Allowed | Allowed - See Transaction Limitations Section | Automatic | |
| 15 month CD 15 month Jumbo |
[ Show Rate ] [ Show Rate ] |
[ Show Rate ] [ Show Rate ] |
Fixed | $1,000 $100,000 |
Quarterly | Quarterly | Not Allowed | Allowed - See Transaction Limitations Section | Automatic | |
| 18 month CD 18 month Jumbo |
[ Show Rate ] [ Show Rate ] |
[ Show Rate ] [ Show Rate ] |
Fixed | $1,000 $100,000 |
Quarterly | Quarterly | Not Allowed | Allowed - See Transaction Limitations Section | Automatic | |
| 21 month CD 21 month Jumbo |
[ Show Rate ] [ Show Rate ] |
[ Show Rate ] [ Show Rate ] |
Fixed | $1,000 $100,000 |
Quarterly | Quarterly | Not Allowed | Allowed - See Transaction Limitations Section | Automatic | |
| 24 month CD 24 month Jumbo |
[ Show Rate ] [ Show Rate ] |
[ Show Rate ] [ Show Rate ] |
Fixed | $1,000 $100,000 |
Quarterly | Quarterly | Not Allowed | Allowed - See Transaction Limitations Section | Automatic | |
| 36 month CD 36 month Jumbo |
[ Show Rate ] [ Show Rate ] |
[ Show Rate ] [ Show Rate ] |
Fixed | $1,000 $100,000 |
Quarterly | Quarterly | Not Allowed | Allowed - See Transaction Limitations Section | Automatic | |
| 39 month CD 39 month Jumbo |
[ Show Rate ] [ Show Rate ] |
[ Show Rate ] [ Show Rate ] |
Fixed | $1,000 $100,000 |
Quarterly | Quarterly | Not Allowed | Allowed - See Transaction Limitations Section | Automatic | |
| 18 month Bump-up 18 month Jumbo Bump |
[ Show Rate ] [ Show Rate ] |
[ Show Rate ] [ Show Rate ] |
Variable Rate - Member has discretion | $1,000 $100,000 |
Quarterly | Quarterly | Not Allowed | Allowed - See Transaction Limitations Section | Automatic | |
| 30 month Bump-up 30 month Jumbo Bump |
[ Show Rate ] [ Show Rate ] |
[ Show Rate ] [ Show Rate ] |
Variable Rate - Member has discretion | $1,000 $100,000 |
Quarterly | Quarterly | Not Allowed | Allowed - See Transaction Limitations Section | Automatic | |
| 41 month Bump-up 41 month Jumbo Bump |
[ Show Rate ] [ Show Rate ] |
[ Show Rate ] [ Show Rate ] |
Variable Rate - Member has discretion | $1,000 $100,000 |
Quarterly | Quarterly | Not Allowed | Allowed - See Transaction Limitations Section | Automatic | |
| 12 month Teen CD | [ Show Rate ] | [ Show Rate ] | Fixed | $100 | Quarterly | Quarterly | Not Allowed | Allowed - See Transaction Limitations Section | Automatic | |
| 12 month Youth (12 and under) CD | [ Show Rate ] | [ Show Rate ] | Fixed | $100 | Quarterly | Quarterly | Not Allowed | Allowed - See Transaction Limitations Section | Automatic | |
CD RATE DISCLOSURES
Except as specifically described, the following disclosures apply to all of the accounts.
1. Rate Information: The annual percentage yield is a percentage rate that reflects the total amount of interest to be paid on an account based on the interest rate and frequency of compounding for an annual period. For Certificate of Deposit, Health Savings Certificate of Deposit, IRA Certificate of Deposit, Add-On Certificate of Deposit, Jumbo Certificate of Deposit, Starter Certificate of Deposit, Teen Certificate of Deposit, and Youth Certificate of Deposit accounts, the interest rate and annual percentage yield are fixed and will be in effect for the initial term of the account. During the term of your Bump Up Certificate of Deposit, Bump Up IRA Certificate of Deposit, Bump Up Health Savings Certificate of Deposit, Bump Up Jumbo Certificate of Deposit, Bump Up Jumbo IRA Certificate of Deposit, and Bump Up Jumbo Health Savings Certificate of Deposit accounts(s), you may increase the rate one time to the rate currently in effect for accounts of this type with the same term. This rate increase will be at no cost to the member and the maturity date will remain the same as originally scheduled. For accounts subject to interest compounding, the annual percentage yield is based on an assumption that interest will remain on deposit until maturity. A withdrawal of interest will reduce earnings. APY may vary by market.
2. Interest Compounding and Crediting: The compounding and crediting frequency applicable to each account is set forth in the Rate Schedule. For all accounts, at your option, you may choose to have interest credited to your certificate account or transferred to another account of yours. If you elect to have interest transferred to another account, compounding will not apply.
3. Balance Information: To open any account, you must deposit or already have on deposit the minimum required share(s) in any account. Some accounts may have additional minimum opening deposit requirements. The minimum balance requirements applicable to each account are set forth in the Rate Schedule. For all accounts, interest is calculated by the daily balance method which applies a daily periodic rate to the principal in the account each day.
4. Accrual of Interest: For all accounts, interest will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account.
5. Transaction Limitations: For all accounts, your ability to make deposits to your account and any limitations on such transactions are stated in the Rate Schedule. After your account is opened, you may make withdrawals subject to the early withdrawal penalties stated below.
6. Maturity: Your account will mature as stated on this Truth-in-Savings Disclosure or on your Account Receipt or Renewal Notice.
7. Early Withdrawal Penalty: We may impose a penalty if you withdraw funds from your account before the maturity date.
a. Amount of Penalty. For all accounts, the amount of the early withdrawal penalty is based on the term of your account. The penalty schedule is as follows: Terms of 1 year or less: 90 days' interest. Terms of longer than 1 year: 180 days' interest.
b. How the Penalty Works. The penalty is calculated as a forfeiture of part of the interest that has been or would be earned on the account. It applies whether or not the interest has been earned. In other words, if the account has not yet earned enough interest or if the interest has already been paid, the penalty will be deducted from the principal
c. Exceptions to Early Withdrawal Penalties. At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances
(i) When an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction.
(ii) Where the account is an Individual Retirement Account (IRA) and any portion is paid within seven (7) days after the establishment of the account; or where the account is a Keogh Plan (Keogh), provided that the depositor forfeits an amount at least equal to the simple interest earned in the amount withdrawn; or where the account is an IRA or Keogh and the owner attains age 59.5, or becomes disabled.
8. Renewal Policy: The renewal policy for your accounts is stated in the Rate Schedule. For accounts that automatically renew for another term, 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. If the same term is no longer available, the certificate will renew to the next shorter term available.
9. Nontransferable/Nonnegotiable: Your account is nontransferable and nonnegotiable.
10. Membership: As a condition of membership, you must purchase and maintain the minimum required share(s) as set forth below. Par Value of One Share: $5.00. Number of Shares Required: 1.
The rates and fees appearing with this Schedule are accurate as of the effective date indicated on this Truth-in-Savings Disclosure. If you have any questions or require current rate and fee information on your accounts, please call the Credit Union.
