Rate Information. For Share, Money Market, IRA Share and Draft Plus accounts, the Dividend Rate and Annual Percentage Yield may change at any time 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 dividends and dividend period applicable to each account are set forth in the Rate Schedule. The dividend period begins on the first calendar day of the period and ends on the last calendar day of the period.
Accrual of Dividends. Dividends will begin to accrue on deposits on the business day you make the deposit to your account. If you close your account before accrued dividends are credited, they will not be paid.
Balance Information. The minimum balance requirements applicable to each account are set forth in the Rate Schedule. For IRA Share and Draft Plus accounts, there is a minimum daily balance required to avoid a service fee. For Share, and Ira Share accounts, there is a minimum average daily balance required to obtain the APY. If the minimum is not met you will not earn the stated APY.
Account Limitations. For Share and Money Market accounts, six transfers per month are allowed, after that a fee may be imposed and transfers may be blocked. For Money Market accounts, deposits and withdrawals must be a minimum of $500.