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Member savings federally insured up to $250,000
by the National Credit Union Administration, A United States Government Agency. Dividend Rates on Deposit Accounts
Rates may change after an account is opened. See below for complete fee and disclosure information associated with these accounts. You may receive a written Rate and Fee Schedule upon request.
Share Savings Accounts
Christmas Share Accounts
FEE SCHEDULE Service Fees
TRUTH-IN-SAVINGS ACCOUNT DISCLOSURES Account Terms The dividend rate and APY may change every dividend period as determined by the credit union board of directors. Compounding and crediting. Dividends will be compounded quarterly and will be credited quarterly. For these account types, 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 follows the ending date of a dividend period, and for the example above is April 1. If you close your account before dividends are credited, you will receive accrued dividends. Balance computation method. 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 principal in the 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 you deposit noncash items. (e.g., checks) to your account. Nature of dividends. Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period. Share Draft Account only. Your Ability to Withdraw Funds Our policy is to make funds from your 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 deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit 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 the above mentioned day or on a day we are not open, we will consider that the deposit was made on the next business day we are open. Please remember that even after we have made funds available to you, and you have withdrawn funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit. If you have any questions, be sure and ask us. Longer Delays May Apply In some cases, we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the fifth business day after the day of your deposit. However, the first $100 of your deposits will be available on the first business day. If we are not going to make all of the funds from your deposit available on the first business day, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the day after we receive your deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available. In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:
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 seventh business day after the day of your deposit. NONINTEREST-BEARING TRANSACTION ACCOUNTS Notice of change in Temporary NCUA Insurance Coverage for Transaction Accounts: All funds in a noninterest-bearing transaction account are insured in full by the National Credit Union Administration through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to members under the NCUA general share insurance rules. The term noninterest-bearing transaction account includes a traditional share draft account (or demand deposit account) on which the insured credit union pays no interest or dividend. It does not include any transaction account that may earn interest or dividends, a negotiable order of withdrawal (NOW) account, money market deposit account, and Interest on Lawyers Trust Account (IOLTA), even if share drafts may be drawn on the account. For more information about temporary NCUA insurance coverage of transaction accounts, visit www.ncua.gov.
We do business in accordance with the Federal Housing Law and the Equal Credit Opportunity Act. Copyright © 2004 - Pennsylvania Credit Union Association
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The following dividend rates and disclosure information are for our checking and savings accounts.
