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Accurate
as of January 2010
If
you have any questions or need current rate and fee information,
please call us. This Disclosure and Rate and Fee Schedule
apply to the following account types:
Regular
Shares / Special Shares / IRA 's
RATE
INFORMATION: As
of the last dividend declaration date, if your average daily
balance was more than $ 100.00 but less than $ 5,000.00, the
dividend rate paid on the entire balance in your account was
0.05 %, with an annual percentage yield (APY) of
0.05 %.
As of the last dividend declaration date, if your average
daily balance was more than
$
5,000.00, but less than $ 10,000.00, the dividend rate paid
on the entire balance in your account was 0.15 %, with an
annual percentage yield (APY) of 0.15 %.
As
of the last dividend declaration date, if your average daily
balance was more than
$10,000.00, the dividend rate paid on the entire balance in
your account was 0.40 %, with an annual percentage yield (APY)
of 0.40 %.
The
dividend rate(s) and APY(s) may change every quarter based
on the determination of the Credit Union Board of Directors.
NATURE
OF DIVIDENDS:
Dividends are paid from the current income and available earnings
after required transfers to reserves at the end of a dividend
period.
COMPOUNDING
AND CREDITING:
Dividends will be compounded quarterly and will be credited
quarterly. If you close your account before dividends are
paid, you will not receive the accrued dividends.
For
this account type, the dividend period is quarterly, for example,
the beginning date of the first dividend period of the calendar
year is January 1 and the ending date of such dividend period
is March 31.
MINIMUM
BALANCE REQUIREMENTS:
The minimum balance required to open any of these account
types is $ 25.00.
You
must maintain a minimum average daily balance of $ 100.00
in your account to obtain the disclosed annual percentage
yield.
The
par value of a share in this credit union is $ 25.00.
BALANCE
COMPUTATION METHOD:
Dividends are calculated by the average daily balance method
which applies a periodic rate to the average daily balance
in the account for the period. The average daily balance is
calculated by adding the balance in the account for each day
of the period and dividing that figure by the number of days
in the period.
ACCRUAL
OF DIVIDEND ON NON-CASH DEPOSITS:
Dividends will begin to accrue on the business day you place
non-cash items (e.g. checks) to your account.
FEE
AND CHARGES:
The following fees and charges may be assessed against your
account:
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Late Charges on Loans |
$ 20.00 |
Per Month |
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Account Closing in 90 day Fee |
$ 10.00 |
Per Item |
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Statement Copy Fee |
$ 5.00 |
Per Copy |
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OverDraft Transfer Fee |
$ 5.00 |
Per Item |
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Draft Return - Non Sufficent Funds (NSF) Fee |
$ 35.00 |
Per Item |
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ACH Return Item Fee |
$ 35.00 |
Per Item |
|
PhotoCopy of Paid Draft Item |
$ 2.00 |
Per Item |
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Debit Card Re-Order |
$ 10.00 |
Per Item |
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Stop Payment Fee (Check or Money Order) |
$ 35.00 |
Per Item |
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Account Balancing Assistance |
$ 10.00 |
Per Hour |
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3rd Party Deposited Item Return |
$5.00 |
Per Item |
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Member Deposited Item Return |
$ 35.00 |
Per Item |
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Re-Open Account Fee |
$ 25.00 |
Per Item |
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Excessive WithDrawal Fee (over 6) |
$ 10.00 |
Per Month |
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Dormaint Account Fee |
$ 5.00 |
Per Month |
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File Search Fee |
$ 15.00 |
Per Hour |
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TRANSACTIONS
LIMITATIONS: During any statement period,
you may not make more than six (6) withdrawals or transfers
to another credit union account of yours or to a third party
by means of a preauthorized or automatic transfer or telephonic
order or instruction. No more than three of the six transfers
may be made by check, draft, debit card, if applicable, or
similar order to a third party. If you exceed the transfer
limitations set forth above in any statement period, your
account will be subject to closure by the credit union and
a fee of $ 5.00.
These
fees are subject to change without notice.
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