Money Management Savings Account Policy

1. Rate Information

The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors. This account is tiered which means it pays different dividend rates corresponding to applicable account tiers, on the applicable balance in each tier of the account. The applicable tiers, dividend rate and annual percentage yield for each tier will be as listed in the credit union’s current Rate Schedule shown on our web site.

2. Compounding and Crediting

Dividends will be compounded monthly and be credited to your account monthly.

3. 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 through January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending of a dividend period, and for the example above is January 31. If you close your account prior to payment of a dividend, you will not receive any accrued dividends.

4. Balance Computation Method

Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

5. Minimum Balance Requirements

• The minimum required to open this account is $2,500.00.
• You receive a dividend for each day that your balance is $2,500.00 or greater.
• You are required to maintain a minimum daily balance of $2,500.00 in your account each day to obtain the disclosed annual percentage yield.
• Accrual of Dividends on Non-cash Deposits: Dividends will begin to accrue on the business day you deposit non-cash (e.g. checks) to your account.

6. Transaction Limitations:

During any month you may not make more than six (6) withdrawals or transfers to another credit union account of yours or to a third party by means of preauthorized automatic, or computer transfer, telephonic order or instruction, or similar order to a third party. No more than three (3) of the six (6) transfers may be made by check.

There is a minimum deposit amount of $100.00 for deposits made to this account via payroll deduction.

This is a tiered rate account. If your daily balance is from $2,500.00 to $24,999.99 the first dividend rate and annual percentage yield will apply. If the daily balance is from $25,000.00 to $74,999.99 the second dividend rate and annual percentage yield will apply. If the daily balance is greater than $75,000.00 the third dividend rate and annual percentage yield will apply. Once a particular range is met, the dividend rate and annual percentage will apply to the full balance in your account.