Effective December 15, 2009
The following fees may be assessed against your account
and the following transaction limitations, if any, applied
to your account.
| New Member
| Loan Application Fee
| Quick Cash Fee
| Christmas Club Early Withdrawal Fee
| Duplicate Tax Reporting Information
| Returned Check Fee
| Excessive Withdrawal Fee (6/quarter)
| Stop Payment Fee
1. 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 of an annual period. For all accounts the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Board of Directors. The Dividend Rate and Annual Percentage Yield are the rates and yields as of the last declaration date per the Board of Directors set forth in the Rate Disclosure.
2. Nature of Dividends. Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.
3. Dividend Compounding and Crediting. The crediting of dividends and the dividend period are set forth in the Rate Disclosure. The period begins with the first day of the calendar month and ends with the last day of the calendar month. Dividends are credited quarterly with the quarters being defined as January through March, April through June, July through September, and October through December.
4. Accrual of Dividends. For all accounts dividends will begin accruing on cash and noncash (e.g.checks) deposits on the business day the deposit is made. Accrued but not credited dividends will not be paid if a member closes their account prior to the time dividends would be credited to the share account.
5. Balance Information. The minimum balance requirement for a share account is $25.00. The minimum balance requirement for a share certificate is $1,000.00. The minimum balance required to earn the Annual Percentage Yield for all accounts are set forth in the Rate Disclosure. If the minimum balance required to earn the Annual Percentage Yield is not met, then a dividend will not be paid. Dividends will be calculated by the daily method, which applies a periodic rate to the daily balance in the account for the period.
6. Account Limitations. For shares and sub accounts, six withdrawals are permitted each quarter. Each withdrawal after 6 will be charged $5.00 per withdrawal. Christmas Clubs will mature each calendar year on November 1. Members may withdraw Christmas Club funds by check or deposit to regular shares on or after November 1 of the calendar year. If Christmas Club funds are accessed prior to November 1 in the calendar year, then a fee of $10.00 per withdrawal applies.