April 30, 2005
The following fees may be assessed against your account
and the following transaction limitations, if any, applied
to your account.
In order to qualify
for a share draft account, the applicant must
be a member in good standing and must have a regular
share account with a minimum balance of $5.00.
The member must be 18 years old or have an adult
member as a joint owner. A minimum deposit of
$100.00 is required to open the share account
unless a wire transfer or direct deposit is made
to the new account. All share draft accounts will
be verified through ChexSystems.
|Members will receive a monthly
statement. Assistance with reconciliation of accounts
is available from the credit union for published
| Share Draft Accounts may
NOT be pledged as collateral on any loan.
| Overdrafts can be covered
by withdrawals from the members regular share account.
A $12.00 fee will be charged for each transfer.
Transfers will be made for only the amount needed
to pay a check.
Automatic transfers from the share account are limited
to six (6) per month.
| A stop payment can be placed
on a share draft by calling or coming by the credit
union office. These stop payment ordered are good
for six months. The order MUST be signed by the
member within 3 days from the request date. After
2 per year, the member will be charged a $25.00
|Share Account Fees
|Share/Savings Withdrawal Fee
||$2.00 Per withdrawal after twelve
(12) withdrawals per year.
|Share Draft Checking Account
|Insufficient Funds Charge (NSF)
| Return Deposit Fee (Charge Back)
|Stop Payment (Share Draft/ACH)
|Overdraft Protection (Transfer)
|Statement Reconciliation (Per Hour)
|Copy of Checks
||$3.00 (Per Check)
|Share Draft Checks—Printing
Fee/Pricing my vary depending upon style.
The first order of share draft checks must
be ordered through the credit union office.
The member must pay cost of check orders.
|ATM Withdrawals (After 4 Per Month)
||$1.50 Per Withdrawal Thereafter If at Foreign
|ATM Card—Lost Card Replacement
|Other Account Fees
||$1.00 Per Page
||$1.00 Per $100.00
|Inactive Account After One (1) Year
||$5.00 Per Month
|No Service Charge
On The Following Accounts
|Vacation Club Accounts
|Christmas Club Accounts
- 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/Savings,
IRA, and Share Draft Checking accounts, the Dividend
Rate and Annual Percentage Yield may change quarterly
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.
- Nature of Dividends.
Dividends are paid from current income and available
earnings after required transfers to reserves at the
end of the dividend period.
- Dividend Compounding and Crediting.
The compounding and crediting of 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 calendar day
of the period and ends on the last calendar day of
- Accrual of Dividends.
For Regular Share/Savings, IRA, and Share Draft Checking
accounts, dividends will begin to accrue on noncash
deposits (e.g. checks) on the business day you make
the deposit to your account. For Regular Share Draft
Checking accounts, if you close your account before
accrued dividends are credited, accrued dividends
will not be paid.
- Balance Information.
The minimum balance requirements applicable to each
account are set forth in the Rate Schedule. For Regular
Share/Savings, IRA and Share Draft Checking accounts,
there is a minimum average daily balance required
to obtain the Annual Percentage Yield for the dividend
period. If the minimum average daily balance is not
met, you will not earn the stated Annual Percentage
Yield. For Regular Share/Savings, IRA, and Share Draft
Checking accounts using an Average Daily Balance method,
dividends are calculated by applying an periodic rate
to the average daily balance in the account for each
day of the period and dividing that figure by the
number of days in the period determines the average
- Exceptions. Except
as specifically described, the following disclosures
apply to all of the accounts. All accounts described
in this rate and Fee Schedule is share accounts.