Share Accounts. The Share Account is a Savings Account and is subject to the same restrictions that apply to all Savings Accounts. Your Share Account is the Account that must remain open for continued membership. Any minimum- balance requirement is set forth in the Consumer Account Disclosure. Restrictions, rates, and fees are set forth in the Consumer Account Disclosure.
Share Accounts. Deposits. After you have established your Prime Share Savings Account, you may make additional deposits into that account, or establish additional share accounts and other types of accounts as described below, at any time and in any amount. We may establish minimum amounts for deposits in your Share Accounts or other accounts. Your Prime Share Savings Account and your other Share accounts will be referred to singularly in this Agreement as “Share Account” and collectively as “Share Accounts,” as applicable. Additional Share Accounts can be established by completing an Application to Add Account. You can make deposits in person or by mail. At the present time, you can arrange to have one or more of the following deposits made directly by the payer to your Share Accounts:
Share Accounts. Partners Federal Credit Union’s share accounts let you deposit your money in a savings account and withdraw your money at any time. Our share accounts are Primary Savings, Traditional Christmas Club, Special Savings, and IRA savings. INFORMATION ABOUT ALL SHARE ACCOUNTS RATE INFORMATION: The initial dividend rate and annual percentage yield (“APY”) is stated on the Rate Sheet accompanying this Disclosure. Unless otherwise indicated, all share accounts are variable rate accounts. The rate is a single tier rate and APY unless exceptions are indicated. The Rate and APY may change at any time in the Credit Union’s discretion. DIVIDEND COMPOUNDING AND CREDITING: Dividends will be compounded monthly and will be credited monthly. 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 is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date precedes the ending date of a dividend period and, for example, is the third Wednesday of every month. If you close your account before dividends are credited, you will not receive accrued dividends.
Share Accounts. DIVIDENDS: As of the last dividend declaration date, if your average daily balance was: $50,000 or more: the dividend rate paid on the entire balance in your account was 0.20%, with an APY of 0.20%. $4,000 or more, but less than $50,000: the dividend rate paid on the entire balance in your account was 0.10%, with an APY of 0.10%. $1,000 or more, but less than $4,000: the dividend rate paid on the entire balance in your account was 0.05%, with an APY of 0.05%. $500 or more, but less than $1,000: the dividend rate paid on the entire balance in your account was 0.05%, with an APY of 0.05% Dividends are compounded quarterly and are credited to this account the last business day of each quarter. SERVICE CHARGES AND FEES:
Share Accounts. This Account is established when application for membership is accepted. The purchase of one share is required to open this account. Voting privileges are extended to the Primary Account Holder of this type of account, and Joint Account Owners of this type of account are not necessarily eligible to vote. Please refer to the Fee Schedule to determine applicable fees and minimum balance requirements for these accounts.
Share Accounts. This Account is established when application for membership is accepted. The purchase of one share is required to open this account. Voting privileges are extended to the Primary Account Holder of this type of account, and Joint Account Owners of this type of account are not necessarily eligible to vote. Please refer to the Fee Schedule to determine applicable fees and minimum balance requirements for these accounts. Sub Accounts Except for Individual Retirement Accounts, all sub-account types, including Certificate of Deposit accounts, opened under the Share Account number will be owned by the same owner(s), unless unequivocally designated by you on the most recently executed signature card(s) accepted by us.
Share Accounts. An IRA is subject to the applicable terms and conditions set forth in this agreement as well as the terms and conditions set forth in the Ascensus application and related disclosures which by this reference are incorporated into this agreement in its entirety. When you open your IRA share account, the Ascensus and related disclosures will be provided to you in accordance with applicable law. Minimum balance requirements for IRA accounts are subject to change. Please refer to our website for further information. You may not pledge any of the funds on deposit in the account as security for any loan(s). Certain federal and state penalties may apply to amounts withdrawn from IRAs. These are set forth in applicable federal and state laws and regulations, which are incorporated by this reference. Funds in an IRA will escheat to the state if you have not done any of the following for a period of more than three (3) years after the funds become payable or distributable:
Share Accounts. 32 8.3 Confirmation of Share Transactions.........................33 8.4 Notice of Distribution and Reinvestment....................33
Share Accounts. For each holder of Shares of any Portfolio, the Custodian shall maintain one or more Share accounts as requested by such holder of Shares, provided the Fund gives the Custodian the name and address of the holder of Shares, showing the following information for each such account:
Share Accounts. If your account is an dividend earning account and is not a NOW account or share certificate, the following terms may apply. (A) Transfers and Withdrawals. If your Account is a share or money market account, federal law requires that an Account Owner may make no more than six (6) transfers and/or withdrawals during any one (1) calendar month or statement cycle (the period from one statement to the next) or similar period of at least four weeks, to another of your accounts with us or to a third party by means of a preauthorized or automatic transfer, or telephonic (including data transmission) agreement, order or instruction. No more than three (3) of the six (6) transfers may be made by check, draft, debit card, or similar order made by you and payable to third parties. If you exceed more than three (3) such transfers, we need not honor the item. A “preauthorized transfer” includes any arrangement by us to pay a third party from your account upon written or oral instructions (including an order received through an automated clearing house (ACH) or any arrangement by
