1APY = Annual Percentage Yield. Dividend rate is effective as of 03/02/2020. Dividend rates and annual percentage yield are subject to change at our discretion without notice to you. We do not impose a limit on the amount the dividend rate and Annual Percentage Yield on your account may change. The dividend rate on your account is determined by the credit union. There is no initial deposit requirement to open this account. There is no minimum balance requirement for this account. Fees could reduce earnings on this account.
One account per member allowed. The Tier 1 dividend rate will only be paid on the portion of your balance that is $2,499.99 or less. The Tier 2 dividend rate will only be paid on the portion of your balance that is $2,500 to $4,999.99. The Tier 3 dividend rate will only be paid on the portion of your balance that is $5,000 or more.
You may not make more than six withdrawals and transfers or a combination of such transfers and withdrawals, per calendar month or statement cycle of at least four weeks from your Savings or Money Manager Account to another Credit Union account of yours, or to a third party by means of a pre-authorized or automatic transfer or telephonic agreement or order of instruction or by check, draft debit card, or similar order made by you and payable to third parties. Withdrawals and/or transfers exceeding these limitations will result in an excess activity fee. If you exceed the transaction limits on more than an occasional basis, we may revoke your privileges on that account or we may convert your savings/money manager account to another type of account, such as a checking account. Your funds may no longer earn interest after we convert your account.
Minimum balance to earn the stated Annual Percentage Yield (APY) depends upon the tier as indicated in rates. If the account balance falls below the minimum stated for a particular tier, the next lowest tier’s APY will apply. For example, if an account meets the minimum balance requirements for Tier 3 at the start of the dividend period, but the balance subsequently falls below the minimum balance requirement for Tier 3 during the same dividend period, then the APY earned will range from 2% to 1%, depending on the balance in the account.