Checking Accounts

ACCRUAL OF DIVIDENDS. For all dividend earning accounts, interest will begin to accrue on the business day that non-cash items (i.e., checks) are deposited to the account. If you close your account before interest is paid, you will not receive the accrued interest.

MINIMUM BALANCE REQUIREMENTS. The minimum balance requirements may include a minimum opening deposit, the minimum balance you must maintain in the account to avoid service fees, and the minimum balance that you must maintain each day to earn the stated Annual Percentage Yield (APY) for that account. The Par value of a share in this credit union is disclosed in the Fee Schedule.

BALANCE COMPUTATION METHOD. We use the Daily Balance to calculate interest on your account. The Daily Balance Method applies a daily periodic rate to the full amount of principle in the account each day.

ACCRUAL OF DIVIDENDS. For all dividend earning accounts, interest will begin to accrue on the business day that non-cash items (i.e., checks) are deposited to the account. If you close your account before interest is paid, you will not receive the accrued interest.

COMPOUNDING AND CREDITING. The compounding and crediting frequency of dividends and the dividend period applicable to each account are stated in the Rate Schedule. The dividend period is the period of time at the end of which an account earns dividend credit. The dividend period begins on the first calendar day of the period and ends on the last calendar day of the period.