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Business Share Accounts
Valid 7/24/2008
Truth in Savings Disclosure
Tier
Amounts |
Dividend
Rate |
Annual
Percentage
Yield |
Minimum
Opening
Balance |
Monthly
Service
Charge |
| Business Savings/Business Membership Share | $100 | No monthly service charge on Business Savings Account.
**Business Membership Share Account must maintain a $5 balance. | | | Savings account for all Business Members. Three tiers allow you to earn more when you deposit more into your account. | $500.00  $2,499.00 | 0.25% | 0.25% | | $2,500.00 $9,999.00 | 0.40% | 0.40% | | $10,000.00 Or More | 0.65% | 0.65% |  | | Business Money Market Account | $100 | $6 with daily balance less than $1,000 or average balance of $2,000; otherwise no charge. | | | A flexible way to earn dividends on your higher deposits. There is a limit of 6 pre-authorized transfers per month. No more than 3 may be checks to third parties. | | $0.00 $999.00 | 0.35% | 0.35% | | $1,000.00 and Up | 1.39% | 1.40% | | | Business Money Max Account | $100 | $8 with daily balance less than $2,500 or average balance of $3,500; otherwise no charge. | | | A flexible way to earn dividends on your even higher deposits! There is a limit of 6 pre-authorized transfers per month. No more than 3 may be checks to third parties. | | $2,500.00 $9,999.00 | 1.39% | 1.40% | | $10,000.00 $1,499,999.00 | 1.83% | 1.85% | | $50,000.00 $99,999.00 | 2.52% | 2.55% | | $100,000.00 $1,499,999.00 | 3.35% | 3.40% | | $1,500,000.00 and Up | 3.49% | 3.55% | | | Business Checking | $100 | $4 with daily balance less than $500 or average balance less than $1,500. | | | For businesses that require a simple, affordable checking account. Write up to 100 drafts per month and deposit up to 100 items per month. ($0.15 per item thereafter)., $4 with daily balance less than $500 or average balance less than $1,500. | | 0.25% | 0.25% | | | Business Checking Plus | $100 | $8 with daily balance less than $2,500 or average balance less than $3,500. | | | For businesses with moderate transaction volumes as well as coin and currency needs. Write up to 500 drafts per month and deposit up to 500 items per month ($0.15 per item thereafter). | | 0.25% | 0.25% | | | Account Analysis Checking | N/A | See Brochure for full details. | | | Earn credit for the funds you keep on deposit. Earnings Credit Rate offsets fees charged for activity on this account. See Account Analysis Checking brochure for complete details. | | | 2.05% | |
| * Earnings Credit Rate is based on
the Auction result of the 91-day t-bill discount rate as of the fourth Tuesday of the previous month for the
following month. Earnings Credit Rate earned on deposits offsets fees. See Analysis Checking Fees brochure for
complete details on the fees and charges for this account. |
| Truth-In-Savings Disclosure |
|
Except
as specifically described, the following disclosures apply
to all of the accounts.
1. Rate Information. The Dividend Rate and Annual Percentage Yield on your accounts are set forth on the reverse side. 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 dividend bearing accounts the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Board of Directors. The Money Market and Money Max accounts are tiered-rate accounts. The Dividend Rate and Annual Percentage Yield applicable to the account will be based on a balance rate set forth on the reverse side. Once a balance range is met, the Dividend Rate for that balance will apply to the entire balance.
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. The Dividend Rate and Annual Percentage Yield shown on the reverse side are the prospective rates the Credit Union anticipates paying for the dividend period.
3. Compounding and Crediting. For dividend bearing accounts, dividends will be compounded and credited monthly. The Dividend Period begins on the first calendar day of the month and ends on the last calendar day of the month.
4. Accrual of Dividends. Dividends will begin to accrue on cash and non-cash (e.g. checks) deposits on the business day you make the deposit to your account.
5. Balance Information. The minimum balance required to open each account is set forth on the reverse side. The minimum required balance to avoid a service fee or obtain the stated Annual Percentage Yield is set forth on the reverse side. On any day the minimum balance is not met, dividends will not be paid or a monthly service fee will be imposed, as applicable. Dividends are calculated by the daily balance method which applies a daily periodic rate to the principal in the account each day.
6. Amount Limitations. For Money Market Accounts, no more than six (6) preauthorized automatic, or telephone transfers may be made from these accounts to another account of yours or to a third party in any month, and no more than three (3) of these six (6) transfers may be made by check, draft, or debit card to a third party. If you exceed these limitations, your account may be subject to a $10 fee.
The rates
appearing in this Schedule are accurate and effective for
Savings and Checking Accounts as of the date above.
If you
have any questions or require current rate information on
your accounts, please call the Credit Union.
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1-800-445-4483