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TRUTH-IN-SAVINGS ACCOUNT DISCLOSURE
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Except as specifically described, the following disclosures apply to all of the accounts. All accounts described in this Rate and Fee schedule 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, Special Share, Vacation Club, Holiday Club, Share IRA’s and Super Share Draft 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 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 of dividends and dividend period applicable to each account are set forth 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 day of the period and ends on the last calendar day of the period.
4.
Accrual of Dividends. For Regular Share, Special Share, Vacation Club, Holiday Club, Share IRA’s and Super Share Draft accounts, dividends will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account. For Vacation Club and Holiday Club accounts, if you close your account before accrued dividends are credited, accrued dividends will not be paid.
5.
Balance Information. The minimum balance requirements applicable to each account are set forth in the Rate Schedule. For Super Share Draft accounts, there is a minimum daily balance required in the Regular Share account to avoid a service fee for the dividend period. If the minimum daily balance in the Regular Share account is not met, there will be a service fee as set forth below. For Regular Share accounts, there is a minimum daily balance required to obtain the Annual Percentage Yield for the dividend period. If the minimum daily balance is not met, you will not earn the stated Annual Percentage Yield. For Regular Share, Vacation Club, Holiday Club, Share IRA’s and Super Share Draft accounts using a Daily Balance method, dividends are calculated by applying a daily periodic rate to the principal in the account each day.
6.
Account Limitations. For Regular Share accounts, no more than six (6) preauthorized, automatic, or telephone transfers may be made from these accounts to another account of yours or to a third party in any month, and no more than three (3) of these six (6) transfers may be made by check, draft, or debit card to a third party. If you exceed these limitations, your account may be subject to a fee or be closed. For a Holiday Club account, the entire balance will be paid to you by check or transferred to another account of yours on or after September 1 and the account will remain open. If you withdraw any of the account balance at any time, you may be charged a withdrawal fee of $5.00 and your account will be closed. Once the account has been closed, it cannot be reopened until October 1 or after. You may make transfers or withdrawals in the first seven (7) days after the account is opened without restriction. For Vacation Club accounts, a maximum of two (2) withdrawals per calendar year are allowed after which the account closes. Once the account has been closed, it cannot be reopened until January 1 or after. For Share IRAs accounts, a fee will be imposed for early withdrawal if younger than age 59 1/2. For Special Shares, Share Draft, and Super Share Draft accounts, no account limitations apply.
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FEE SCHEDULE
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Savings Account Fees
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Regular Share Dormant Account Fee:
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$15.00 per month if the minimum balance of $100 is not maintained and there is no activity in 1 year.
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Holiday Club Early Withdrawal/Closure Fee:
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$5.00
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Vacation Club Closure Fee:
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$5.00 if more than two (2) withdrawals in one (1) calendar year.
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Share IRA’s Transfer to Another Financial Institution Fee:
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$10.00 per transfer.
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Share Draft and Super Share Draft Account Fees
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NSF Fee:
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$20.00 per item.
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Returned Item Fee:
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$20.00 per item.
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Stop Payment Fee:
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$20.00 per request.
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Share Draft Printing Fee:
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Prices may vary depending upon style.
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Paid Draft Copy Fee:
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$2.00 per draft.
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Certified Share Draft Fee:
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$4.00 per draft.
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Overdrawn Account Fee:
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$20.00 per item.
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Super Share Draft Account Service Fee:
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$10.00 per month if a minimum daily balance of $2,500 in Regular Share Account is not maintained.
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Other Service Fees (applicable to all accounts)
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Account Reconciliation Fee:
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$20.00 per hour, minimum of $10.00
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Account Research Fee:
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$20.00 per hour, minimum of $10.00.
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Statement Copy Fee:
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$2.00 per page.
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Deposited Item Return Fee:
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$20.00 per item.
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Items Sent for Collection Foreign Fee:
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Exchange Charge plus $2.00 per item.
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Wire Transfer (Incoming) Fee:
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$10.00 per transfer.
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Wire Transfer (Outgoing) Fee:
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$20.00 per transfer.
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Money Order Fee:
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$1.00 per money order.
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Travelers Check Fee:
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$1.00 per $100.00
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Travelers Check For Two Fee:
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$1.50 per $100.00
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Gift Check Fee:
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$2.50 per check.
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Check Withdrawal By Phone Under $50.00 Fee:
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$1.00 per withdrawal.
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Credit Union Check Withdrawal Payable to Other Than Member Fee:
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$5.00 per check.
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Foreign wire fee:
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At cost, $25.00 minimum.
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Account Activity Printout Fee:
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$.25 per page, $1.00 minimum.
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Credit Union Check Copy Fee:
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$5.00 per check.
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Address Correction, Returned Mail Fee:
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$2.50 per correction.
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Deposit or Withdrawal Copy Fee:
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$1.00 per copy.
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Redeposit NSF Item Fee:
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$5.00 per item.
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Stop Payment Order For Credit Union Check Fee:
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$20.00 per item.
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Account Limitations Transactions Fee:
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$5.00 per item in excess of account limitations as disclosed, including Automatic transfers from Shares (overdaft protection)
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Home Equity Loan/ Line of Credit Application Fee
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$250.00 non-refundable fee due when application is submitted
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Loan Payment Due Date Change Fee:
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$10.00
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Credit Card Replacement Fee
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$5.00
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Debit/ATM Card Replacement Fee
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$5.00-$20.00
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Electronic Funds Transfer Fees
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Nonproprietary ATM Withdrawal Fee*:
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$1.00
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Balance Inquiry (Nonproprietary ATM’s) Fee*:
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$.50 per request.
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Pre-authorized EFT Non Sufficient Fund Fee:
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$20.00 per item
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Stop payment order for ACH
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$20.00 per request
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Bill Payment Service Fee:
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$6.00 per month
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Bill Payment Stop Payment Fee:
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$20.00 per item
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Bill Payment NSF Fee:
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$20.00 per item. (If you do not have enough money in your account to cover your payment, whether the payment has already been received by the merchant or not)
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Bill Payment Investigation Research Fee:
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$35.00 per item. (Investigation requiring interaction with third parties to resolve.)
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* Electronic Fund Transfer Fees indicated with a * are free on an account with a Super Share Draft Account.
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Credit Union Membership
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Membership Share:
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$5.00 par value.
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Member Fee:
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$1.00
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Close Account open less than 90 days:
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$5.00
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Special Note: You authorize the Credit Union to obtain credit reports in connection with an application for a Share Draft, Super Share Draft account, or an ATM/Debit card.
If you request, the Credit Union will tell you the name and address of any credit bureau from which it received a credit report on you.
Oral Stop Payment orders are effective for fourteen (14) calendar days only.
A signed written stop payment order will be effective for six (6) months from the day it is received unless it is renewed in writing.
The rates and fees appearing in this Schedule are accurate and effective for accounts as of the Publication Date. If you have any questions or require current rate and fee
information on your accounts, please call the Credit Union at (302) 999-3193.
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