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Disclosures & Security
 

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
 

Funds Availability Disclosure/Reg E

YOUR ABILITY TO WITHDRAW FUNDS
Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once they are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written.
For determining the availability of your deposit, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit before close of business on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after close of business or on a day we are not open, we will consider that the deposit was made on the next business day we are open.
LONGER DELAYS MAY APPLY
Funds you deposit by check may be delayed for a longer period under the following circumstances:
· We believe a check you deposit will not be paid.
· You deposit checks totaling more than $5,000 on any one day.
· You redeposit a check that has been returned unpaid.
· You have overdrawn your account repeatedly in the last six months.
· There is an emergency, such as failure of computer or communications equipment.
We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the tenth business day after the day of your deposit.
SPECIAL RULES FOR NEW ACCOUNTS
If you are a new customer, the following special rules will apply during the first 30 days your account is open.
Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, cashier's, certified, teller's, traveler's, and federal, state, and local government checks will be available immediately if the deposit meets certain conditions. For example, the checks must be payable to you. Funds from all other check deposits will be available immediately unless we notify you otherwise. We may exercise the right to put longer holds on check deposits made into new accounts.



REGULAR SAVINGS SHARE ACCOUNT

Rate Information - The dividend rate and annual percentage yield may change every quarter. We may change the dividend rate for your account as determined by the credit union board of directors.

Compounding and crediting - Dividends will be compounded every quarter. Dividends will be credited to your account every quarter.

Dividend period - For this account type, the dividend period is quarterly, 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 March 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is prior to the beginning of a dividend period, and for the example above is December 31.

If you close your account before dividends are paid, you will not receive the accrued dividends.

Minimum balance requirements - The minimum balance required to open this account is the purchase of a share in the credit union. Please see the bylaw requirements in the Common Features section for additional information.

You must maintain a minimum daily balance of $5.00 in your account each day to obtain the disclosed annual percentage yield.

Daily 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.

Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.

Transaction limitations - No transaction limitations apply to this account unless otherwise stated in the Common Features section.

Fees and charges - A fee of $5.00 will be charged each month if the aggregate balance of all your shares falls below $100.00 at any time during the month.

Members age 18 and under are excluded. Members with an open loan, including a credit card, are also excluded.

Par value of a share - The par value of a share in this account is $5.00.

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INDIVIDUAL RETIREMENT ACCOUNT

Rate Information - The interest rate and annual percentage yield may change every month. We may change the interest rate for your account as determined by the credit union board of directors.

Compounding and crediting - Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account - If you close your account before interest is paid, you will not receive the accrued interest.

Minimum balance requirements - You must maintain a minimum daily balance of $5.00 in your account each day to obtain the disclosed annual percentage yield.

Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) to your account.

Transaction limitations - You may not make any withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized or automatic transfer, telephonic order or instruction, or similar order to a third party.

Fees and charges - A maintenance fee of $12.00 will be charged annually. A new account fee of $4.00 will be charged upon the opening of this account.

Roth and Education Individual Retirement

Accounts will be charged a maintenance fee of $12.00 annually and a new account fee of $4.00 upon the opening of this account.

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VACATION, ESCROW TAXES, ESCROW INSURANCE, ESCROW HOME IMPROVEMENT ACCOUNT

Rate Information - The dividend rate and annual percentage yield may change every quarter. We may change the dividend rate for your account as determined by the credit union board of directors.

Compounding and crediting - Dividends will be compounded every quarter. Dividends will be credited to your account every quarter.

Dividend period - For this account type, the dividend period is quarterly, 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 March 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is prior to the beginning of a dividend period, and for the example above is December 31. If you close your account before dividends are paid, you will not receive the accrued dividends.
Minimum balance requirements:
You must maintain a minimum daily balance of $5.00 in your account each day to obtain the disclosed annual percentage yield.

Daily 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.

Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.

Transaction limitations:
No transaction limitations apply to this account unless otherwise stated in the Common Features section.

Par value of a share - The par value of a share in this account is $5.00.

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CHRISTMAS CLUB SHARE ACCOUNT

Rate Information - The dividend rate and annual percentage yield may change every quarter. We may change the dividend rate for your account as determined by the credit union board of directors.

Compounding and crediting - Dividends will be compounded every quarter. Dividends will be credited to your account every quarter.

Dividend period - For this account type, the dividend period is quarterly, 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 March 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is prior to the beginning of a dividend period, and for the example above is December 31. If you close your account before dividends are paid, you will not receive the accrued dividends.

Minimum balance requirements:
You must maintain a minimum daily balance of $5.00 in your account each day to obtain the disclosed annual percentage yield.

Daily 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.

Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.

Transaction limitations:
No transaction limitations apply to this account unless otherwise stated in the Common Features section.

Funds will be transferred to the regular savings account on November 1 of each year unless you request otherwise.

Par value of a share - The par value of a share in this account is $5.00.

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REGULAR CHECKING (SHARE DRAFT) ACCOUNT

Minimum balance requirements:
You must maintain a minimum daily balance of $150.00 in your account to avoid a minimum balance fee. If, during any month, your account balance falls below the required minimum daily balance, your account will be subject to a minimum balance fee of $5.00 once per month.

This fee is waived for members 17 years of age and under, members 60 years of age and older, and members with VIP status of Silver or higher.
Transaction limitations:

No transaction limitations apply to this account unless otherwise stated in the Common Features section.

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BUSINESS CHECKING (SHARE DRAFT) ACCOUNT

This account is not a consumer account to which Truth in Savings applies.

Minimum balance requirements:
You must maintain a minimum daily balance of $1,000.00 in your account to avoid a minimum balance fee. If, during any month, your account balance falls below the required minimum daily balance, your account will be subject to a minimum balance fee of $15.00 once per month.

Transaction limitations:
No transaction limitations apply to this account unless otherwise stated in the Common Features section.

Fees and charges:
A per check fee of $.20 will be charged for each check cleared in excess of ten during the month.

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ORGANIZATION CHECKING (SHARE DRAFT) ACCOUNT

This account is not a consumer account to which Truth in Savings applies.

Minimum balance requirements:
You must maintain a minimum daily balance of $25.00 in your account to avoid a minimum balance fee. If, during any month, your account balance falls below the required minimum daily balance, your account will be subject to a minimum balance fee of $2.00 once per month.

Transaction limitations:
No transaction limitations apply to this account unless otherwise stated in the Common Features section.

Fees and charges:
A per check fee of $.20 will be charged for each check cleared in excess of ten during the month.

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STUDENT CHECKING (SHARE DRAFT) ACCOUNT

This account is not a consumer account to which Truth in Savings applies.

Qualifications:
 

  • 12 credits earned per year
  • member must be under the age of 25
  • waiver form must be completed every year by August 1
     

Minimum balance requirements:
No minimum balance requirements apply to this account.

Transaction limitations:
No transaction limitations apply to this account unless otherwise stated in the Common Features section.

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COMMON FEATURES

Bylaw requirements:

You must complete payment of one share in your Regular Savings Share account as a condition of admission to membership.

Transaction limitation - We reserve the right to at any time require not less than seven days notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D.

Nature of dividends - Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.

National Credit Union Share Insurance Fund - Member accounts in this credit union are federally insured by the National Credit Union Share Insurance Fund.

Fees may be assessed against your account and there may be transaction limitations that apply to your account. Refer to the service charges and fees sheet.

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LAST DECLARED DIVIDEND RATE
REGULAR SAVINGS SHARE ACCOUNT
ESCROW TAXES SHARE ACCOUNT
ESCROW INSURANCE SHARE ACCOUNT
ESCROW HOME IMPROVEMENT SHARE ACCOUNT
VACATION SHARE ACCOUNT
CHRISTMAS CLUB SHARE ACCOUNT



On all of the above, as of the last dividend declaration date of 10/01/2009, the dividend rate was as follows:


Tier 1 - If your daily balance is $100,000.00 or more, the dividend rate paid is .05% with an annual percentage yield of .05% on your account.

Tier 2 - If your daily balance is more than $24,999.99, but less than $100,000.00, the dividend rate paid is .05% with an annual percentage yield of .05% on your account.

Tier 3 - If your daily balance is more than $9,999.99, but less than $25,000.00, the dividend rate paid is .05% with an annual percentage yield of .05% on your account.

Tier 4 - If your daily balance is more than $99.99, but less than $10,000.00, the dividend rate paid is .05% with an annual percentage yield of .05% on your account.
 

Security Statement
 

 


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Security Statement
 
Our Credit Union is constantly concerned about our member’s critical information and privacy. With this in mind, the following measures are part of the security environment on Internet server:
  • Each server is behind a Firewall. These devices protect critical ports and IP addresses on servers and block traffic to help prevent external attack and access.
  • Each server runs proprietary software that constantly monitors the servers for unauthorized use and attempts to "hack" into information. Administrators are contact when forced attacks are committed, and countermeasures can be applied to stop these instances.
  • All administrative activity requires user login and authentication. All administrative updates are logged into files that can be reviewed later.
  • All servers come with a Global Security Certificate for digitally encrypted communications between the Web server and your member. Information passed in applications cannot be decrypted by third parties attempting to "pick" information being passed across the Internet backbone.
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