Share/IRA Discolures

Truth in Savings Disclosure Certificate of Deposit & Retirement Accounts

  • 3 Month Certificate
  • 6 Month Certificate
  • 9 Month Certificate
  • 12 Month Certificate
  • 18 Month Certificate
  • 24 Month Certificate
  • 3 Year Certificate
  • 5 Year Certificate

FIXED RATE INFORMATION: The interest rate, maturity date, and annual percentage yield disclosed on your deposit. Your account will be paid until the maturity date on your certificate.

COMPOUNDING AND CREDITING Dividends will be compounded monthly and will be credited monthly.

MINIMUM BALANCE REQUIREMENT To open this account is a minimum balance of $500.00.

BALANCE COMPUTATION METHOD The average daily balance method requires the application of a periodic rate to the average daily balance in the account for the average daily balance calculation period. The average daily balance is determined by adding the full amount of the principal in the account for each day of the period and dividing that figure by the number of days in the period.

ACCRUAL OF DIVIDENDS ON DEPOSITS Dividends will begin to accrue on the business day the deposit is credited in the account.

TRANSACTION LIMITATIONS There is no transaction limitations apply to this account. Deposits can be made anytime. Withdrawal can be made providing the account balance does not go below the principal balance.

EARLY WITHDRAWAL PENALTY Based on the term of the certificate, the early withdrawal penalty will be as follows:

  • 3 months = 45 days of dividends
  • 6 months = 90 days of dividends
  • 9 months = 135 days of dividends
  • 12 months = 180 days of dividends
  • 24 months = 360 days of dividends
  • 3 years = 360 days of dividends
  • 5 years = 360 days of dividends

RENEWAL POLICY The account may be automatically renewed at maturity. The Credit Union will give the member at least 10 days notice prior to maturity to inform the owner of the terms under which the Credit Union proposes to renew the certificate. Dividends rates are subject to change at maturity and are based on current market conditions. The owner agrees that in event the Credit Union is not notified by the member on or before the maturity date, the Credit Union will automatically renew the certificate at the current dividend rate.

  • 6 Month EZ Share Certificate
  • 12 Month EZ Share Certificate

FIXED RATE INFORMATION: The interest rate, maturity date, and annual percentage yield disclosed on your deposit. Your account will be paid until the maturity date on your certificate.

COMPOUNDING AND CREDITING Dividends will be compounded monthly and will be credited monthly.

MINIMUM BALANCE REQUIREMENT To open this account is a minimum balance of $50.00

BALANCE COMPUTATION METHOD The average daily balance method requires the application of a periodic rate to the average daily balance in the account for the average daily balance calculation period. The average daily balance is determined by adding the full amount of the principal in the account for each day of the period and dividing that figure by the number of days in the period.

ACCRUAL OF DIVIDENDS ON DEPOSITS Dividends will begin to accrue on the business day the deposit is credited in the account.

TRANSACTION LIMITATIONS There is no transaction limitations apply to this account. Deposits can be made anytime. Withdrawal can be made providing the account balance does not go below the principal balance.

EARLY WITHDRAWAL PENALTY Based on the term of the certificate, the early withdrawal penalty will be as follows:
  • 6 month = 90 days of dividends
  • 12 months 180 days of dividends

RENEWAL POLICY The account may be automatically renewed at maturity. The Credit Union will give the member at least 10 days notice prior to maturity to inform the owner of the terms under which the Credit Union proposes to renew the certificate. Dividends rates are subject to change at maturity and are based on current market conditions. The owner agrees that in event the Credit Union is not notified by the member on or before the maturity date, the Credit Union will automatically renew the certificate at the current dividend rate.