Truth in Savings Disclosure

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

Rate Schedule

Dividends

Dividends Compounded

  • Regular Share Account: Quarterly
  • Club Account: Quarterly
  • Save2Own Account: Quarterly
  • Escrow Account: Quarterly
  • IRA Activity Account: Quarterly
  • Share Draft Account: -
  • Enterprise Draft Account: -
  • Cash Management Account: Quarterly
  • Business Share Account: Quarterly

Dividends Credited

  • Regular Share Account: Quarterly
  • Club Account: Quarterly
  • Save2Own Account: Quarterly
  • Escrow Account: Quarterly
  • IRA Activity Account: Quarterly
  • Share Draft Account: -
  • Enterprise Draft Account: -
  • Cash Management Account: Quarterly
  • Business Share Account: Quarterly

Dividend Period

  • Regular Share Account: Quarterly (Calendar)
  • Club Account: Quarterly (Calendar)
  • Save2Own Account: Quarterly (Calendar)
  • Escrow Account: Quarterly (Calendar)
  • IRA Activity Account: Quarterly (Calendar)
  • Share Draft Account: -
  • Enterprise Draft Account: -
  • Cash Management Account: Quarterly (Calendar)
  • Business Share Account: Quarterly (Calendar)

Balance Requirements

Minimum Opening Deposit

  • Regular Share Account: $5.00
  • Club Account: $5.00
  • Save2Own Account: $1,000.00
  • Escrow Account: $5.00
  • IRA Activity Account: $5.00
  • Share Draft Account: $25.00
  • Enterprise Draft Account: $100.00*
  • Cash Management Account: $2,000.00
  • Business Share Account: 100.00*

Minimum Balance to Avoid a Service Fee

  • Regular Share Account: -
  • Club Account: -
  • Save2Own Account: -
  • Escrow Account: -
  • IRA Activity Account: -
  • Share Draft Account: -
  • Enterprise Draft Account: -
  • Cash Management Account: $2,000.00
  • Business Share Account: $5.00**

Minimum Balance to Earn the Stated APY

  • Regular Share Account: $100.00
  • Club Account: $100.00
  • Save2Own Account: $1,000.00
  • Escrow Account: $100.00
  • IRA Activity Account: $100.00
  • Share Draft Account: -
  • Enterprise Draft Account: -
  • Cash Management Account: $2,000.00
  • Business Share Account: $100.00

Balance Method to Calculate Dividends

  • Regular Share Account: Average Daily Balance
  • Club Account: Average Daily Balance
  • Save2Own Account: Average Daily Balance
  • Escrow Account: Average Daily Balance
  • IRA Activity Account: Average Daily Balance
  • Share Draft Account: -
  • Enterprise Draft Account: -
  • Cash Management Account: Average Daily Balance
  • Business Share Account: Average Daily Balance

Account Limitations

  • Regular Share Account: -
  • Club Account: -
  • Save2Own Account: Account transfers and withdrawal limitations apply.
  • Escrow Account: Account transfers and withdrawal limitations apply.
  • IRA Activity Account: -
  • Share Draft Account: -
  • Enterprise Draft Account: -
  • Cash Management Account: -
  • Business Share Account: -

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 Regular Share, Save2Own, Club, Escrow, IRA Activity, and Cash Management, Business Share accounts, the dividend rate and annual percentage yield may change quarterly as determined by the Credit Union's Board of Directors. The dividend rates and annual percentage yields are the rates and yields as of the last dividend declaration date which is set forth in the Rate Schedule.
  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 Compounding and Crediting The compounding and crediting frequency of dividends and 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.
  4. Accrual of Dividends For Regular Share, Club, Save2Own, Escrow, IRA Activity,  Cash Management, and Business Share accounts, dividends will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account. For Regular Share, Club, Save2Own, Escrow, IRA Activity, Cash Management, and Business Share accounts, if you close your account before accrued dividends are credited, you will not receive the accrued dividends.
  5. 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 Enterprise Draft and Business Share accounts, the opening deposit is an aggregated amount deposited. For Cash Management accounts, there is a minimum average daily balance to avoid a service fee for the dividend period. **For Business Share accounts, you must also have additional services to avoid the service fee, please refer to the Business Service Schedule for more details. If the minimum average daily balance requirement is not met, you will be charged a service fee as stated in the Schedule of Fees and Charges. For Regular Share, Save2Own, Club, Escrow, IRA Activity, Cash Management and Business Share accounts, there is a minimum average daily balance required to earn the annual percentage yield disclosed for the dividend period. If the minimum average daily balance requirement is not met, you will not earn the annual percentage yield stated in the Rate Schedule. For accounts using an average daily balance method, as stated in the Rate Schedule, dividends are calculated by applying 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 for each day of the period and dividing that figure by the number of days in the period.
  6. Account Limitations For Save2Own accounts, you may make no transfers are 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 Escrow 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 Regular Share, Club, IRA Activity, Share Draft, Enterprise Draft, Cash Management, and Business Share, no account limitations apply.
  7. 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 Membership and Account Agreement and 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 Schedule of fees and Charges for 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.
    1. Par Value of One Share - $5.00
    2. Number of Shares Required - 1
  9. Rates The rates provided in or with the Rate 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.
  10. Fees See separate Schedule of Fees and Charges for a listing of fees and charges applicable to your account(s).

If you have any questions or require current rate and fee information on your accounts, please contact us online or visit one of our branch locations.