Truth in Savings Disclosure (Rev 12/10)

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 to time.

​

Rate Schedule:

Regular Shares

Dividends

Dividend Rate/Annual Percentage Yield (APY):

• $25.01 to $100.00

• $100.01 to $1,000.00

• $1,000.01 to $20,000.00

• $20,000.01 to $50,000.00

• $50,000.01 or greater

Dividends Compounded: Monthly

Dividends Credited: Monthly

Dividend Period: Monthly (Calendar)

Balance Requirements

Minimum Opening Deposit: $25.00

Minimum Balance to Avoid a Service Fee: $25.00

Minimum Balance to Earn the Stated APY: $25.00

Balance Method to Calculate Dividends: Daily Balance

Account Limitations:
Account transfer and withdrawal limitations apply

​

Money Market

Dividends

Dividend Rate/Annual Percentage Yield (APY): N/A​

Dividends Compounded: Monthly

Dividends Credited: Monthly

Dividend Period: Monthly (Calendar)

Balance Requirements

Minimum Opening Deposit: $2,500.00

Minimum Balance to Avoid a Service Fee: N/A

Minimum Balance to Earn the Stated APY: $2,500.00

Balance Method to Calculate Dividends: Daily Balance

Account Limitations:
Account transfer and withdrawal limitations apply

​

Variable IRA

Dividends

Dividend Rate/Annual Percentage Yield (APY): N/A​

Dividends Compounded: Monthly

Dividends Credited: Monthly

Dividend Period: Monthly (Calendar)

Balance Requirements

Minimum Opening Deposit: N/A

Minimum Balance to Avoid a Service Fee: N/A

Minimum Balance to Earn the Stated APY: N/A

Balance Method to Calculate Dividends: Daily Balance

Account Limitations:
Account transfer and withdrawal limitations apply

​

Vacation Club

Dividends

Dividend Rate/Annual Percentage Yield (APY): N/A​

Dividends Compounded: Monthly

Dividends Credited: Monthly

Dividend Period: Monthly (Calendar)

Balance Requirements

Minimum Opening Deposit: $25.00

Minimum Balance to Avoid a Service Fee: N/A

Minimum Balance to Earn the Stated APY: $25.00

Balance Method to Calculate Dividends: Daily Balance

Account Limitations:
Account transfer and withdrawal limitations apply

​

Holiday Club

Dividends

Dividend Rate/Annual Percentage Yield (APY): N/A​

Dividends Compounded: Monthly

Dividends Credited: Monthly

Dividend Period: Monthly (Calendar)

Balance Requirements

Minimum Opening Deposit: $25.00

Minimum Balance to Avoid a Service Fee: N/A

Minimum Balance to Earn the Stated APY: $25.00

Balance Method to Calculate Dividends: Daily Balance

Account Limitations:
Account transfer and withdrawal limitations apply

​

Vacation Club

Dividends

Dividend Rate/Annual Percentage Yield (APY): N/A​

Dividends Compounded: N/A

Dividends Credited: N/A

Dividend Period: N/A

Balance Requirements

Minimum Opening Deposit: N/A

Minimum Balance to Avoid a Service Fee: N/A

Minimum Balance to Earn the Stated APY: N/A

Balance Method to Calculate Dividends: N/A

Account Limitations:
N/A

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 Market, Variable IRA, Vacation Club, and Holiday Club 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 yield are the rates and yields as of the last dividend declaration date that is set forth in the Rate Schedule. Regular Share 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.

2. NATURE OF DIVIDENDS - Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period.

3. DIVIDEND COMPOUNDS 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 of the period of time at the end 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.

4. ACCRUAL OF DIVIDENDS - For all earning accounts, dividends will begin to accrue on non-cash deposits (e.g. checks) on the business day you make the deposit to your account. For Regular Shares, Money Market, Variable IRA, Vacation Club and Holiday Club accounts, if you close your account before accrued dividends are credited, you will not receive the accrued dividends. However, for Holiday Club accounts, any accrued dividends will be paid if you close the account within seven (7) days of the date you open it.

5. BALANCE INFORMATION - To open any account, you must deposit or already have on deposit the minimum required share(s) in a Regular Share 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 Regular Share accounts, there is a minimum daily balance required to avoid a service fee for the dividend period. If the minimum daily balance requirement is not met during each day of the dividend period, you will be charged a service fee as stated in the Fee Schedule. For Regular Share, Money Market, Vacation Club, and Holiday Club accounts, there is a minimum 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 daily balance method as stated in the Rate Schedule, dividends are calculated by applying a daily periodic rate to the principal in the account each day.

6. ACCOUNT LIMITATIONS - For Regular Shares and Vacation Club accounts, you may make no more than six (6) transfer and withdrawals from you account to another account of yours or to a third party in any month by means of a pre-authorized, 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 1st 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 Holiday Club 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 Money Market accounts, you may make three (3) withdrawal(s) or transfer(s) from your account each month. If you exceed this limitation, your account may be closed. For Money Market accounts, the minimum amount for account withdrawals or deposits is $250.00. For Variable IRA accounts, you may not make any pre-authorized automatic or telephonic transfers from your account to another account of yours or to a third party at any time. For Share Draft accounts, no account limitations apply.

7. FEES FOR OVERDRAWING ACCOUNTS - Fees for overdrawing you 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 you account may not be available for withdrawal, transfer or paying a check, draft, or item. You may consult the Funds Availability Policy Disclosures for information regarding the availability of funds in you account. Fees for overdrawing you 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 approval 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) as set forth below.
   Par Value of One Share:                $25.00
   Number of Shares Required:        1

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.

FEE SCHEDULE

Fee Description

Fee Amount

Account activity print out

Account research

ATM Card Fee

Automatic overdraft transfer

Certified check

Copy of share draft

Copy of share draft online

Deposited items returned unpaid

Early withdrawal fee

(holiday accounts)

Early withdrawal fee

(shares closed within first six months)

Early withdrawal fee

(IRA account closed within first six months)

Escheat account fee

Legal process fee

Levies & liens

Money order

Non-sufficient funds (sharedraft)

Non-sufficient funds (ATM/Visa check card)

Non-sufficient funds (preauthorized w/d)

Outgoing wire (domestic)

Outgoing wire (international)

Overdraft advance fee

Paper statement

Photocopy of statement

Returned mail fee

Returned item

Stop payment (all items)

Temporary drafts

Verification of credit or deposit

Visa gift card

Money market account
(excessive withdrawal fee over 3/mo.)

Inactivity fee (6 mo. no activity)

​

$1.00

$30.00 (per hour)

$3.00 (per month)

$5.00

$5.00

$5.00

$0.50 (first two free each month)
$25.00
$10.00

$25.00

$50.00

$100.00
$5.00
$100.00
$2.00
$30.00 (each)
$30.00
$30.00
$25.00
$75.00
$30.00
$1.00 (per month)
$5.00 (minimum)
$5.00 (per month)
$25.00
$20.00
5 for $1.00 
$5.00
$3.00
$25.00

$5.00

​

*If a member's account falls below $25.00, and 2 or more statements are returned  for incorrect address and no current address is known, the account shall be closed and charged a below minimum account balance fee of $25.00 or current account balance

​

**If a member's account balance falls below $25.00 and there has been no activity in 60 days, the account will be charged an inactivity fee of $25.00 or current account balance.

​

​

​