Certificate Rates

APR = Annual Percentage Rate, APY = Annual Percentage Yield.

The rates, fees and terms applicable to your account at the Credit Union are given in this Rate and Fee Schedule. The Credit Union may offer other rates for these accounts from time to time.

Except as specifically described, the following disclosures apply to all of the accounts. All accounts described in this Rate & Fee Schedule are share 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 all accounts, the Dividend Rate and Annual Percentage Yield are fixed and will be in effect for the term of the account. For accounts subject to dividend compounding, the Annual Percentage Yield is based on an assumption that dividends will remain on deposit until maturity. A withdrawal of dividends will reduce earnings.

Nature of Dividends
Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period. 

Dividends Compounding and Crediting
The compounding and crediting of dividends applicable to each account is set forth in the Rate Schedule. 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 requirements applicable to each account are set forth in the Rate Schedule. For all accounts, dividends are calculated by the Average Daily Balance method which applies a periodic rate to the average daily balance in the account for the 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
For all accounts, dividends will begin to accrue on noncash deposits (e.g.checks) on the business day you make the deposit to your account. For all accounts, if you close your account before accrued dividends are credited, accrued dividends will not be paid.

Transaction Limitations
After your account is opened, your ability to make additional deposits to your account or withdrawals of dividends and any limitations on such transactions are set forth in the Rate Schedule.

Maturity
Your account will mature as indicated on your Rate and Fee Schedule or on your Account Receipt or Renewal Notice.

Early Withdrawal Penalty
We may impose a penalty if you withdraw any of the principal before the maturity date. 

Amount of Penalty
For all accounts, the amount of the early withdrawal penalty is based on the term of your account. The penalty schedule is as follows: 

Terms of 1 year or less: 30 days dividends.
Terms of more than 1 year: 90 days dividends. 

How the Penalty Works
The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned on the account. It applies whether or not the dividends have been earned. In other words, if the account has not yet earned enough dividends or if the dividend has already been paid, the penalty will be deducted from the principal . 

Exceptions to Early Withdrawal Penalties
At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances: 

(i) When an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction . 

(ii) Where the account is an Individual Retirement Account (IRA) and any portion is paid within seven (7) days after establishment; or where the account is a Keogh Plan (Keogh) provided that the depositor forfeits an amount of at least equal to the simple dividends earned in the amount withdrawn; or where the account is an IRA or Keogh and the owner attains age 59 1/2 or becomes disabled. 

Renewal Policy
The renewal policy for your accounts is indicated above. For all accounts, your account will automatically renew for another term upon maturity. For all accounts, you have a grace period of seven (7) days after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty. 

Nontransferable/Nonnegotiable
Your account is nontransferable and nonnegotiable. The funds in your account may not be pledged to secure any obligation of an owner, except obligations with the Credit Union. 

The rates and fees appearing in this Schedule are accurate and effective for accounts as of the Last Dividend Declaration Date indicated on this Rate and Fee Schedule. 
If you have any questions or require current rate and fee information on your accounts, please call the Credit Union.