1 APY = Annual Percentage Yield. Dividend rate is effective as of 08/01/2020. 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.
2 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 2 at the start of the dividend period, but the balance subsequently falls below the minimum balance requirement for Tier 2 during the same dividend period, then the account will earn the stated APY for the corresponding Tier 1 account.
For savings and money manager accounts you may make up to six transfers or withdrawals by means of a preauthorized, automatic, or telephonic transfer to another account of yours or to a third party or by check, debit card, or similar order to a third party during any calendar month (or statement cycle of at least four weeks). A preauthorized transfer includes any arrangement with us to pay a third party from your account at (i) a predetermined time; (ii) on a fixed schedule or (iii) upon or written orders including orders received through the automated clearing house (ACH). If the transfer or withdrawal is initiated in person, by mail, or at an ATM then there is no limit on the number of payments that may be made directly to you, directly to us for amounts you owe us, or transfers to other accounts you have with us. Withdrawals by phone are also unlimited if you are requesting that a check be mailed to you.
