You can open a additional savings accounts, checking accounts and Christmas Club accounts online by accessing your account via the eBanking system and selecting the Open Accounts feature found under Accounts on the drop down menu.
|ACCOUNT TYPE||DIVIDEND RATE||ANNUAL PERCENTAGE YIELD||MINIMUM OPENING BALANCE||MINIMUM BALANCE TO EARN DIVIDENDS|
|Advantage Checking Account||0.05%||0.05%||$50||$2,500|
|Christmas Club Account||0.25%||0.25%||$25||$500|
|My Savings Goal||1.99% up to $5,000||1.99% up to $5,000||$5||$5|
Dividends compounded monthly | Dividends credited monthly | Dividend Period is monthly | Balance Method is daily
Basic Checking & Student Checking accounts do not earn dividends. No minimum balance to open.
Christmas Club accounts can be opened with a $25 minimum deposit. Minimum monthly deposits of $20.00. No withdrawals may be made from this account until the first Thursday of November.
My Savings Goal account has maximum monthly deposit limit of $1,000 with no minimum monthly deposit.
Truth in Savings Account Disclosures
Except as specifically described, the following disclosures apply to all of the accounts.
- Rate information. The Dividend Rate and Annual Percentage Yield on your accounts are set forth above. 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 the frequency of compounding for an annual period. The Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union’s Board of Directors. A withdrawal will reduce earnings.
- Nature of Dividends. Dividends are paid from current income and available earnings after providing for the required reserves. The Dividend Rates and Annual Percentage Yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period.
- Compounding and Crediting. Dividends will be compounded and credited as set forth above. The Dividend Period for each account is set forth above. The Dividend Period begins on the first calendar day of the Dividend Period and ends on the last calendar day of the Dividend Period.
- Balance information. The minimum balance required to open each account is set forth above. Dividends are Calculated by the Daily Balance method which applies a periodic rate to the balance in the account each day. Any day the balance falls below the minimum required, no dividends will be earned for that day.
- Accrual of Dividends. Dividends will begin to accrue on cash deposits on the business day you make the deposit to your term account. Dividends will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account. If you close your account before accrued dividends are credited, accrued but unpaid dividends will be paid on term share certificates; accrued but unpaid dividends for all other accounts will not be paid if you close the account before accrued dividends are credited.
- Transaction Limitations except for checking transactions. During any statement period, you may not make more than six 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 of instruction. If you exceed the transfer limitations set forth above in any statement period, your account may be subject to closure by the credit union.
- Fees could reduce earnings on the account. Click here for fee schedule.