Savings, IRA Savings, Checking and Money Market Accounts
1. Rate Information.
The Dividend Rate and Annual Percentage Yield on your accounts are set forth herein. 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. The
Dividend Rate and Annual Percentage Yield for Dividend Savings, IRA Savings and Checking accounts may change monthly as determined by the
Credit Union's Board of Directors. The Dividend Rate and Annual Percentage Yield for Money Market accounts may change monthly as determined
by the Credit Union's Management Asset/Liability Committee. Money Market accounts that fall below the minimum balance of $1,000 will earn the
Dividend Savings account rate.
2. Nature of Dividends.
For Dividend Savings, IRA Savings, Checking and Money Market accounts, dividends are paid from current income and available earnings after
providing for the required reserves. The Dividend Rate and APY are the prospective rates and yields that the Credit Union anticipates paying for the
applicable dividend period.
3. Compounding and Crediting.
Dividends on Dividend Savings, IRA Savings and Checking accounts are computed daily and credited quarterly. Dividends on Money Market
accounts are computed daily and credited monthly. 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.
Dividends will begin to accrue on all deposits on the business day you make the deposit to your account. If you close your membership account
before accrued dividends are credited, accrued dividends will not be paid. If your account accrues less than ½ cent in dividends during a dividend
period you will not be paid any dividends for that dividend period.
5. Balance Information.
The minimum balance required to open each account is set forth herein. Dividends are calculated by the Daily Balance method