IRA SHARE ACCOUNT. Rate Information: The dividend rate and annual percentage yield may change at any time 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.
IRA SHARE ACCOUNT. Rate Information: The dividend rate and annual percentage yield may change every month. We may change the dividend rate for your account at any time. Compounding and crediting - Dividends will not be compounded. Dividends will be credited to your account every month. Dividend period - For this account type, the dividend period is monthly, 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 January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the last day of the dividend period, and for the example above is January 31. If you close your share account before dividends are paid, you will receive the accrued dividends. Minimum balance requirements: You must maintain a minimum daily balance of $100.00 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. See your plan disclosure if this account is part of an IRA or other tax qualified plan. □ Rate Information (fixed rate account) - The dividend rate on your term share account is ————–––——% with an annual percentage yield of ————–––——%. You will be paid this rate until first maturity. □ Option Plan and Rate Information (variable rate account) - The dividend rate on your account is ————–––——% with an annual percentage yield of ————–––——%. The dividend rate and annual percentage yield may change. We will not change the rate on your account during the term of the account. However, you have the option during each term of this account (except for Special term certificates) to exchange this dividend rate for a new dividend rate being offered for a certificate with a term equal to the original term of the certificate. The new dividend rate will be the dividend rate we are then offering on term share certificates. This exchange will be at no cost to you. If you make an exchange, the maturity date of this account will remain the same as originally scheduled. You may exercise this option once during each term (the ori...
IRA SHARE ACCOUNT. Rate Information: The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors. Compounding and Crediting – Dividends will be compounded every month. Dividends will be credited to your account every month. Minimum Balance Requirements: No minimum balance requirements apply to this account. Daily Balance Computations 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: During any month, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized or automatic computer transfer or similar order to a third party. If you exceed the transfer limitations set forth above, your account will be subject to closure by the credit union. YOUR ACCOUNT - Please refer to our separate rate sheet for current rates. YOUR ABILITY TO WITHDRAW FUNDS This policy statement applies to “transaction” accounts. Transaction accounts, in general, are accounts which permit an unlimited number of payments to third persons and an unlimited number of telephone and preauthorized transfers to other accounts of your with us. Share draft accounts are the most common transaction accounts. Feel free to ask us whether any of your other accounts might also be under this policy. Our policy is to make funds from your cash and check deposits available to you on the same day we receive your deposit. At that time, you can withdraw the funds in cash and we will use the funds to pay checks that you have written. Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for the checks you deposit that are returned to us unpaid and for any other problems involving your deposit. For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays and federal holidays. If you made a deposit before closing on a business day that we are open, we will consider that day to be the day of your deposit. However, if you made a deposit after closing or on a day we are not open, we will consider that the deposit was made on the next business day we are open. If you made a deposit at an ATM before 2:00 P.M. ...
