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Rate Disclosure for Savings and Spending Accounts
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Savings & Spending Rates
Certificate Rates
“Our Rates & Service Charges” sets forth current conditions and rates applicable to the savings and spending accounts we offer. We may offer other rates or amend the rates contained in this schedule from time to time. Each account holder agrees to the terms set forth on this Rate Disclosure and acknowledges that it is a part of the Member Service Agreement (MSA) and Business Service Agreement (BSA).
Effective Date: 11/19/21
Type
DIVIDEND RATEANNUAL PERCENTAGE YIELDMINIMUM BALANCE
TO EARN APY
MINIMUM BALANCE
TO AVOID
SEVICE CHARGE
Regular/Business Share (S1, S2)
Minimum balance to open: $5
0.10%0.10%$10$0
Secured (S10)0.10%0.10%$10$0
Secured (S50)0.10%0.10%$10$0
Dollar Dog (S12)0.10%0.10%$10$0
Premium Savings (S19, S29)
$5,000.00-$49,999.99
$50,000-$99,999.99
$100,000 or more


0.20%
0.30%
0.35%


0.20%
0.30%
0.35%


$5,000
$50,000
$100,000


$50
minimum
daily
balance
IRA Savings (S65)0.15%0.15%$1$100 balance at the end of the month
Roth IRA (S66)0.15%0.15%$1$100 balance at the end of the month
SEP IRA (S67)0.15%0.15%$1$100 balance at the end of the month
Education IRA (S68)0.15%0.15%$1$100 balance at the end of the month
Roth Conversion (S69)0.15%0.15%$1$100 balance at the end of the month
Free Spending (S76)---$0
Super Saver Spending (S78)---$200 daily balance
Premium Spending (S77)0.05%0.05%$1,000$1,000 daily balance
Business Super Saver Spending (S88)---$200 daily balance
Business Basics Spending (S87)---$2,500 daily balance
Business Premium Spending (S81)0.05%0.05%$5,000$5,000 daily balance
Explanation of Rates and Service Charges
As explained in the MSA and BSA, “Our Rates & Service Charges” applies to all the accounts we offer. Except as specifically described, the following terms apply to all of the accounts you have with us.
1. Rate Information
The Dividend Rate and Annual Percentage Yield (APY) on the savings and spending accounts you have with us are identified above. For all accounts, the dividend rate and APY may change at any time as determined by management. The Premium Savings account is a tiered rate account. The Dividend Rate for a particular tier will apply to the entire account balance if the account balance is within the balance range for that tier. The Dividend Rates and Annual Percentage Yields are the prospective rates as of the effective date identified above. The Annual Percentage Yield is based on an assumption that dividends will remain on deposit for one full year for savings and spending accounts. A withdrawal of dividends will reduce earnings.
2. Nature of Dividends
Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period.
3. Compounding and Crediting
For all savings and spending accounts, dividends will be compounded and credited monthly. The dividend period begins on the first calendar day of the month and ends on the last calendar day of the month. Dividends are credited on the last day of each month.
4. Accrual of Dividends
Dividends will begin to accrue on noncash deposits (e.g., checks) on the business day you make the deposit to an account you have with us. For Premium Savings and Business Premium Spending accounts, accrued dividends will be paid up to the day the account is closed. For all other accounts, if you close your account before accrued dividends are credited, accrued dividends will not be paid.
5. Balance Information
The minimum balance required to earn the stated Annual Percentage Yield is identified above. If you do not maintain the minimum balance, you will not earn the stated Annual Percentage Yield. For all savings and spending accounts, dividends are calculated by using the Daily Balance method, which applies a periodic rate to the balance in the account for each day in the period.
6. Account Limitations
  • For Dollar Dog accounts, the entire balance will be transferred to your Regular Share savings account on the last day of the month in which you turn 13.
  • Secured account balances cannot be withdrawn until the credit union releases its security interest in funds on deposit.
7. Membership
As a condition of membership you must maintain the minimum required share(s) as set forth and described in “Our Service Charges” below. Should your share fall below the required Par Value, the credit union may transfer funds from other shares within membership, to bring your account to it’s required minimum balance, Par Value.
  • Par Value of One Share: $5.00
  • Number of Shares Required, per membership: 1
Download Full Rate and Service Charge Disclosure for Savings and Spending Accounts