|
Truth-In-Savings Act Disclosure
Rate Information
The dividend rate and Annual Percentage Yield ("APY") on your accounts are set forth in the Truth-in-Savings Act Rate and Fee Schedule ("Schedule"). The dividend rate and APY may change each dividend period as determined by the Credit Union's Board of Directors.
Effective May 01, 2013
| Share Account |
Share Savings Account |
IRA Savings Account |
Club Account |
Checking Account
|
| Dividend Rate |
0.10% |
0.399% |
0.10% |
0.05% |
| Annual Percentage Yield |
0.10% |
0.400% |
0.10% |
0.05% |
| Dividends Compounded |
Quarterly |
Quarterly |
Quarterly |
Monthly |
| Dividends Credited |
Quarterly |
Quarterly |
Quarterly |
Monthly |
| Dividend Period |
Quarterly |
Quarterly |
Quarterly |
Monthly |
| Minimum Opening Deposit |
$5.00 |
N/A |
N/A |
$25.00 |
| Minimum Balance to Avoid Service Charge & to earn APY set forth in this Schedule |
None to earn APY |
N/A |
N/A |
N/A |
Compounding and Crediting
Dividends will be compounded and will be credited as set forth in the Schedule. The Dividends Period ("period") for each of your accounts is set forth in the Schedule. The dividend period begins on the first calendar day of the period and ends on the last calendar day of the period. If your account is closed or you make a withdrawal during a dividend period before dividends are credited, you may not receive accrued but uncredited dividends.
Minimum Balance Requirements
The minimum opening deposit required to open any Term Share Certificate Account is set forth in the Schedule. You must maintain an average daily balance equal to or greater than the minimum opening deposit to earn the annual percentage yield and avoid any service charges set forth in the Schedule.
Balance Computation Information 
Dividends are calculated by the average daily balance method, which applies a periodic rate to the average daily balance in your account for the Period. The average daily balance is calculated by adding the balance in your account for each day of the Period and dividing that figure by the number of days in the Period.
Accrual of Dividends
Dividends will begin to accrue on the business day we receive provisional credit for the deposit of noncash items (e.g. checks) to your account. Dividends will begin to accrue on cash deposits on the business day you make the deposit to your account.
Transactional Limitations
In addition to any other applicable limitations described on this web site, after a Term Account is opened, you may not make deposits into the account before maturity. After an IRA Certificate Account is opened, you may make additional deposits into the account before maturity; however, your deposits may not exceed the maximum allowed pursuant to applicable law, or as set forth in the Schedule in any single calendar year. You may not make withdrawals of dividends from your account before maturity, unless at account opening you arrange for dividend payments, if allowed by the Credit Union.
Excessive Transaction Fees
Free Share Savings account transactions are limited to four (4) per month. Additional transactions during a month will cause a fee, as set forth in the Schedule, to be imposed.
If you have any questions regarding our disclosures please contact us toll free at 877.366.6148 or (Patriot Center office) 803.366.6148 or (Fort Mill office) 803.548.9270. Or you can leave us your feedback.
|
