Except as specifically described, the following disclosures apply to all accounts.
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 accounts, the dividend rate and annual percentage yield are fixed and will be in effect quarterly. The Credit Union will notify you at least thirty (30) days in advance of any change.
Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period.
The compounding and crediting of dividends and dividend period applicable to each account are set forth in the rate schedule. The dividend period is the period of time at the end of which an account earns dividend credit. The dividend rates and yields as of the last dividend declaration date which is set forth in the rate schedule.
For all accounts, dividends will begin to accrue on non-cash deposits (e.g. checks), on the business day you make the deposit to your account.
The minimum balance requirements applicable to each account are set forth in the rate schedule. For all accounts using a daily balance method, dividends are calculated by applying a daily periodic rate to the principal in the account each day.
For all accounts, no account limitations apply.