Common use of Share Account Clause in Contracts

Share Account. Minimum balance requirements. The minimum balance to open this account is the purchase of a $5.00 share in the credit union. The minimum balance to receive dividends is $5.00. For those members at least 19 years of age and holding no other accounts except a share or share and club accounts must maintain an average daily balance of $100.00 to receive dividends. For these accounts there will be two tiers upon which dividends will be paid ($100.00-$2,499.99 and over $2,499.99). The minimum balance to receive a quarterly statement is $50.00 unless you hold other accounts with the credit union. A statement will be provided for all accounts at the end of the fourth quarter each year. Fees and charges. The following fees and charges may be assessed against your account: (a) ATM or EFT Over Withdrawal - $30.00 per occurrence; (b) ATM Transaction Fees at Non-MAX ATMs/Denial of Transfer or Withdrawal - $ .50 each; Inquiry - $ .50 each; Transfer - $ .50 each; Withdrawal - $1.00 each; May be subject to Non-MAX ATM owner surcharges. (c) Additional or Replacement MAX ATM card - $5.00 each; (d) Address Not Known and Dormant after 12 months - Transaction limitations. During any calendar 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 pre-authorized or automatic transfer or telephonic order or instruction. If you exceed the transfer limitations set forth above in any calendar month, your account will be subject to closure by the credit union or to a fee of $30.00 per item.