USA Patriot Act requires Identity verification for all new accounts including loans. Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. We will ask for your name, address, date of birth, and other information that will allow us to identify you.  We may also later ask to see your driver's license or other identifying documents.

Effective:  July 1, 2007 - Septmber 30, 2007 

TIERED VARIABLE RATE INFORMATION

As of the last dividend declaration date, the dividend rate was .75% with an annual percentage yield of .752 on your account. 

The dividend rate and APY may change every quarter based on the determination of the credit union Board of Directors.

NATURE OF DIVIDENDS

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

COMPOUNDING AND CREDITING

Dividends will be compounded quarterly and will be credited quarterly.  For this account type, the dividend period is quarterly, for example, the beginning of the first dividend period of the calendar year is 01/01/06 and the ending date of such dividend period is 03/31/06.  All other dividend periods follow this same pattern of dates.  The dividend declaration date follows the ending date of a dividend period, and for the example is 04/01/06.  Accrued dividends will be paid when you close your account .

MINIMUM BALANCE REQUIREMENTS

To be a member and maintain accounts at our credit union you must purchase 1 share(s) in the credit union.  The par value of a share in this credit union is $5.00.  The minimum balance required to open this account is $5.00.  You must maintain a minimum daily balance of $5.00 in your account each day to obtain the disclosed annual percentage yield.  You will earn dividends for every day during the period that your account equals or exceeds the minimum daily balance requirement .

BALANCE COMPUTATION METHOD

The daily balance method requires the application of a daily periodic rate to the full amount of principal in the account each day .

Dividends will begin to accrue on the business day you deposit non-cash items (e.g. checks) to your account.

FEES AND CHARGES:        

Fees and charges may be assessed against your account.  See the current "Fee Schedule" (Effective October 1, 2006) for a complete listing.

TRANSACTION LIMITATIONS

During any statement period, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a per-authorized or automatic transfer or telephonic order or instruction.  Overdraft protections for your share-drafts are only transferred from the savings account with the same base number.