MINIMUM DEPOSIT AND BALANCE REQUIREMENTS. Your Share Accounts may have certain minimum deposit and minimum balance requirements. The minimum deposit and daily balance you must maintain to obtain the disclosed APY is shown on the enclosed Rate Sheet. TRANSFERS TO THIRD PARTIES (REGULATION D): During any calendar month, statement cycle or similar periods of at least 4 weeks, you may not make more than 6 withdrawals or transfers from a savings deposit account which includes your regular share account, Primary Savings, Traditional Christmas Club, Special Savings or a Money Market deposit account) to another credit union account of yours or to a third party by means of a pre-authorized or automatic transfer, telephone or fax, home or internet banking or check, draft, debit card, or similar order payable to third parties. Any excess withdrawals will be returned unpaid and assessed the non-sufficient funds item fee shown on the Schedule of Fees.
MINIMUM DEPOSIT AND BALANCE REQUIREMENTS. The minimum deposit required for you to open and the minimum average daily balance to maintain to earn dividends is shown on the on the enclosed Rate Sheet. If during any month your average daily balance falls below the required minimum to earn dividends, you will not be paid dividends for that month. TRANSACTION LIMITATIONS: Any transaction limitations applicable to your Checking Account(s) are stated on the attached Schedule of Fees.
MINIMUM DEPOSIT AND BALANCE REQUIREMENTS. The minimum deposit required to open a Money Market Account is $2,500. There is no minimum balance requirement to maintain the Account. MINIMUM BALANCE REQUIREMENT TO EARN DIVIDENDS There is no minimum balance requirement to earn dividends on the Account.
MINIMUM DEPOSIT AND BALANCE REQUIREMENTS. A minimum initial deposit is required to open a Logix Checking Account. Refer to the Account Rate Sheet for the Minimum Deposit to Open Account. There is no minimum balance requirement to maintain a Logix Checking Account. SERVICE CHARGES AND FEES There are monthly Service Charges and Fees related to your Logix Checking Account. Refer to the Schedule of Service Charges and Fees for current information. HIGH RATE CHECKING The High Rate Checking Account is a checking account which offers unlimited check writing (provided sufficient funds are available) and which pays dividends on your entire account balance each day when you maintain a minimum balance of $20,000. MINIMUM BALANCE REQUIREMENT TO OPEN A HIGH RATE CHECKING ACCOUNT The minimum balance to open a High Rate Checking Account is $20,000. DIVIDEND RATE AND ANNUAL PERCENTAGE YIELD Refer to the Account Rate Sheet for the current Dividend Rates and Annual Percentage Yields in effect for High Rate Checking Accounts. The Account Rate Sheet is incorporated into this High Rate Checking Account Agreement and Disclosure and is part of our agreement with you governing the Dividend Rates and corresponding Annual Percentage Yields applicable to your High Rate Checking Account. MINIMUM BALANCE REQUIREMENT TO EARN DIVIDENDS The minimum daily balance requirement in order to earn dividends on the High Rate Checking Account is $20,000. Dividends are earned on the entire account balance each day. DIVIDEND RATES ARE BASED ON YOUR ACCOUNT BALANCE The Dividend Rate applicable to your High Rate Checking Account depends on the balance in the Account each day. Logix has established "balance tiers," which consist of four separate ranges of balances. Three tiers earn dividends. The High Rate Checking Balance Tiers are as follows: $ .01 - $ 19,999.99 - no dividends $ 20,000.00 - $ 49,999.99 $ 50,000.00 - $ 99,999.99 $ 100,000.00 and Over Each separate dividend earning "balance tier" may offer a different Dividend Rate and Annual Percentage Yield. The same Dividend Rate may also be applied to two or more balance tiers. Dividends will be earned each day on the entire balance in the Account at the Dividend Rate corresponding to the "balance tier" to which your daily Account balance applies. For example, if your Account balance was $22,500.00 you would receive the Dividend Rate applicable to the "$20,000.00 to $49,999.99" balance tier on the entire $22,500.00 balance for that day. Similarly, if your Account balance was $59,000.00 th...
MINIMUM DEPOSIT AND BALANCE REQUIREMENTS. A minimum initial deposit of $25 is required to open the Advantage Checking Account. However, there is no minimum daily balance required to maintain an Advantage Checking Account. DIVIDENDS This account does not earn dividends.
MINIMUM DEPOSIT AND BALANCE REQUIREMENTS. Your Share Accounts may have certain minimum deposit and minimum balance requirements. The minimum deposit and daily balance you must maintain to obtain the disclosed APY is shown on the enclosed Rate Sheet. TRANSFERS TO THIRD PARTIES (REGULATION D): During any month, you may not make more than 6 withdrawals or transfers from your Primary Savings 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. No more than three (3) of the six (6) transfers may be made by check, draft, Debit Card, or similar order to a third party. Any excess withdrawals will be returned unpaid and assessed the non-sufficient funds item fee shown on the Schedule of Fees. ABILITY TO PLEDGE FUNDS: Unless otherwise indicated in the specifics of each savings account listed in this Disclosure, the account owners may pledge all or any part of the funds in the savings as security for a loan or loans. See the section titled “Funds Cannot be Pledged.” PRIMARY SAVINGS ACCOUNT TRANSACTION LIMITATIONS: Other than as stated above, no transaction limitations apply to your Primary Savings account. OLIVE VIEW HOLIDAY CLUB ACCOUNT Olive View Federal Credit Union offers a Holiday Club account which lets you save money for the holiday season. TRANSACTION LIMITATIONS: There are certain transaction limitations associated with your Holiday Club account. No withdrawals may be made from your Holiday Club account prior to November 1 each year. MATURITY DATE: On November 1st of each year, the available account balance, including dividends, will be transferred to your Checking Account or your Primary Savings account if you do not have a Checking Account. RENEWAL OF ACCOUNT: Your Holiday Club account will automatically renew after the account balance is transferred to your Checking Account or Primary Savings account unless you fail to make further deposits to your Holiday Club account.
MINIMUM DEPOSIT AND BALANCE REQUIREMENTS. The minimum deposit required to open your Main Savings Account is $5. You must maintain a daily balance of at least $5 to maintain your Main Savings Account and membership with us. There are no minimum initial deposits or daily balance requirements to open or maintain Extra Savings Accounts or Holiday or Vacation Club Accounts. MINIMUM BALANCE REQUIREMENT TO EARN DIVIDENDS There is no minimum balance requirement to earn dividends on Savings Accounts. DIVIDEND RATE AND ANNUAL PERCENTAGE YIELD Refer to our current Account Rate Sheet for the Dividend Rates and Annual Percentage Yields in effect for Savings Accounts. NOTE: IRA Savings Accounts earn at the same Dividend Rates and Annual Percentage Yields as Money Market Accounts. DIVIDENDS AND VARIABLE RATE INFORMATION Savings Accounts, Extra Savings Accounts, and Holiday and Vacation Club Accounts are variable rate accounts and the Dividend Rate and Annual Percentage Yield may change weekly, as determined by Logix’s Board of Directors, or its designees, without prior notice to you. However, we reserve the right to change Dividend Rates at any time. There is no limit on how much the Dividend Rate can change each week. Your account statement will reflect the Annual Percentage Yield Earned and the dividends paid each statement period. Dividend Periods are 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 the same monthly pattern of dates. The dividend declaration (payment) date follows the ending date of each dividend period, which is the first day of the following month (and for the example, would be February 1). Dividends are paid from current income and available earnings, after required transfers to reserves have been made by us at the end of each dividend period. Dividends are earned daily and are credited and compounded monthly on the first day of each month. We use the daily balance method of computing dividends, which applies a periodic rate to the entire balance in the Account each day. Dividends begin to accrue from the date of deposit of all cash and non-cash items and shall continue to accrue until the day the funds are withdrawn. Dividends are paid in whole cents. Dividends less than $.01 are not paid and do not accrue from month to month. If you close your Account at any time during the month, we will pay you any earned dividends up to the date of account closure (not including t...
MINIMUM DEPOSIT AND BALANCE REQUIREMENTS. The minimum deposit required to open the Main Savings Account is $5. You must maintain a daily balance of at least $5 to maintain your Main Savings Account and Logix Membership. There is no minimum deposit to open or maintain Additional Savings Accounts. MINIMUM BALANCE REQUIREMENT TO EARN DIVIDENDS There is no minimum balance requirement to earn dividends on the Main Savings Account or Additional Savings Accounts.
MINIMUM DEPOSIT AND BALANCE REQUIREMENTS. A minimum initial deposit of $25 is required to open the Business Advantage Checking Account. However, there is no minimum daily balance required to maintain an Advantage Checking Account. DIVIDENDS This account does not earn dividends. MONTHLY SERVICE CHARGE AND MINUMUM BALANCE REQUIREMENT TO AVOID MONTHLY SERVICE CHARGE Refer to our Fee Schedule for Business Accounts for the Monthly Service Charge and balance requirement to waive the Monthly Service Charge on the Business Advantage Checking Account. HOLDS AND DEPOSITED FUNDS AVAILABILITY POLICY Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. Electronic Direct Deposits will be available on the day we receive the deposit. Check deposits made via eDeposit (if available) and/or sent to us via U.S. mail will be available on the second business day after the day we receive your deposit. Once they are available, you can withdraw the funds and we will use the funds to pay checks that you have written. Business Days and Availability For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit in person to one of our employees at a branch before closing time on a business day that we are open, we will consider that day to be the day of deposit. If you make a deposit in our branch (indoor) or 24-hour (outdoor) depository prior to the posted cut-off time (local time), we will consider that day to be the day of your deposit. However, if you make a deposit after those times or on a day we are not open, we will consider that the deposit was made on the next business day we are open. Longer Delays May Apply In some cases, we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the second business day after the day of your deposit. However, the first $200 of your deposits will be available on the first business day after the day of your deposit. If we are not going to make all of the funds from your deposit available on the first business day, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit was not made directly to one of our employees, or if we decide to take this action after you have left the premises...
MINIMUM DEPOSIT AND BALANCE REQUIREMENTS. There is no minimum deposit required for you to open your Checking Account.
