Checking Rates

Effective Date:  November 25, 2019 Interest Rate Annual Percentage Yield Minimum Opening Balance Minimum Daily Balance To Earn Interest Interest Compounded & Credited
Simply Free Checking $25 N/A None
50+ Checking 0.05% 0.05% $25 $0.01 Monthly
Direct Interest Checking 0.05% 0.05% $25 $0.01 Monthly
Premier Interest Checking $25 $0.01 Monthly
$ .01 - $1,499.99 0.05% 0.05%      
$1,500.00 -  $24,999.99 0.15% 0.15%      
$25,000.00 - $49,999.99 0.25% 0.25%      
$50,000.00 - $99,999.99 0.35% 0.35%      
$100,000.00+ 0.50% 0.50%      

TRUTH-IN-SAVINGS DISCLOSURES

Except as specifically described, the following disclosures apply to all of the accounts:

1. Rate Information. The Interest Rate and Annual Percentage Yield on your accounts are set forth above. The Interest Rate and Annual Percentage Yield may change periodically as set forth above for each account, as determined by Management and/or Board of Directors. The Interest Rates and Annual Percentage Yields applicable to each account depends on the balance ranges set forth above. Once a balance range is met, the highest Interest Rate and Annual Percentage Yield for that range will apply to the entire balance in your account.

2. Compounding and Crediting. Interest will be compounded and credited as set forth above.

3. Accrual of Interest. Interest begins to accrue on cash deposits on the business day you make the deposit to your account. Interest will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account.

4. Balance Information. The minimum balance required to open each account is set forth above. For all saving, the minimum balance required to obtain the stated Annual Percentage Yield is set forth above. If the minimum daily balance is not met, you will not earn the stated Annual Percentage Yield. For all accounts, interest is 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 principal in the account for each day of the period and dividing that figure by the

number of days in the period.

5. Account Limitations. The account limitations for each account are set forth above. For Money Market Accounts, transaction limitations will apply. No more than six (6) preauthorized, automatic, telephone transfers or transfer by check may be made from this account to another account of yours or to a third party in any month. If you exceed these limitations, your accounts may be subject to an excessive transaction fee. For additional information please see the Member Information Brochure.

6. Membership Account. Your Membership Account is a share account and earns dividends rather than interest. With respect to the Membership Account, all references in this Rate and Fee Schedule to "interest" or "interest rate" shall mean "dividends" or "dividend rate". Dividends are paid from current

income and available earnings after required transfers to reserves at the end of the dividend period. The Dividend Rate and Annual Percentage Yield set forth above for your Membership Account are the prospective rates Management and/or the Board anticipates paying for the applicable dividend period.

7. Money Market Account. Limit one account per tax-id number. Dividends are paid at the stated dividend rate for each tier on the portion of the balance within the specified tier. Total dividends paid are based on the amount calculated in each tier. The rates appearing in this Schedule are accurate and effective for Savings Accounts as of the Effective Date indicated above.

 

If you have any questions or require current rate information on your accounts, please call the Credit Union at 541-928-4536 or at 1-800-950-4536.