Truth in Savings Disclosures. Rate Information: All dividend-bearing accounts are variable rate, except fixed-rate certificate accounts. The Dividend Rate and Annual Percentage Yield (APY) may change at any time as determined by the Credit Union’s Board of Directors. The Dividend Rate and APY for certificate accounts will be paid until the first maturity date. Refer to the Savings Addendum for current rates applicable to all accounts. Accrual of Dividends: All items deposited will begin accruing dividends as of the business day of the deposit. For deposits such as non-cash, electronic and ACH, dividends will begin to accrue as of the business day that the Credit Union receives the credit for the deposit of the non-cash item. Please refer to “Determining the Availability of A Deposit” in the Funds Availability Policy for how a business day is defined. For specific dividend information, please refer to the chart that follows. Accounts closed before dividends are credited will receive accrued dividends. For certificate accounts closed prior to maturity, accrued dividends, if applicable, are credited prior to penalties being applied.
Appears in 4 contracts
Samples: Account Agreement, Account Agreement, Account Agreement
