RATE INFORMATION
- The dividend rate and annual percentage yield (APY)
may change every dividend period. We may change the dividend rate for
your account as determined by the credit union board of directors. Rates are tiered, based on average balance. See web site or Member Services for current rate tiers.
COMPOUNDING AND CREDITING
- Dividend will be compounded every month.
Dividends will be credited to your account every month.
DIVIDEND PERIOD
- For this account type, the dividend period is
monthly, for example, the beginning date of the first dividend period
of the calendar year is January 1, and the ending date of such dividend
period is January 31. All other dividend periods follow this same pattern
of dates. The dividend declaration date is the last day of the dividend
period, and for the example above is January 31.
If you
close your share account before dividends are paid, you will not receive
the accrued dividends.
MINIMUM BALANCE REQUIREMENTS
- The minimum balance required to open
this account is $100.00.
There is no minimum average daily balance to
obtain the disclosed annual percentage yield (APY).
The following services are required as part of the Free 'n' EZ Checking Account:
- Direct Deposit (Free)
- Online banking (Free)
- E-statements (Free)
- Active EZ Pay Bill Pay (Free) - at least one transaction per month
- Active Visa Debit Card (Free) - at least one transaction per month
- Overdraft Privilege (Free unless used; No usage required, but you must qualify)
The following are additional benefits that come with the Free 'n' EZ Checking Account:
- First box of standard checks FREE.
- Unlimited Check Writing.
- Free Notary Service
- 50% Discount off standard Visa Gift Card fees.
AVERAGE DAILY BALANCE COMPUTING METHOD
- Dividends are 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 calculated by adding the balance in the account for each day
of the period and dividing that figure by the number of days in the
period. The period we use is the monthly statement cycle.
ACCRUAL OF DIVIDENDS ON NON-CASH DEPOSITS
- Dividends will begin to
accrue on the business day you place non-cash items (for example,
checks) to your account. We may not pay dividends for an item deposited
and subsequently returned unpaid (NSF).
TRANSACTION LIMITATIONS
- No transaction limitations apply to this
account unless otherwise stated in the Common Features section.
