REGULAR SHARE ACCOUNT Sample Clauses

REGULAR SHARE ACCOUNT. Downey Federal Credit Union offers a Regular Share Account (with age-appropriate names – Berenstain Bears Cub Account or Money Smart Account) which lets you periodically save money.
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REGULAR 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.
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REGULAR SHARE ACCOUNT. There is a minimum opening balance requirement of $1.00, which must remain in the account to maintain eligibility for membership. • Miscellaneous Share, Christmas and Vacation Club, XXX and ESA Savings Accounts. There are no requirements to maintain a minimum balance in any of these savings accounts.
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REGULAR SHARE ACCOUNT. RATE INFORMATION: The dividend rate and APY for this Account are set forth in the Schedule of Dividends, Service Charges and Fees. The dividend rate and APY for this Account may change every dividend period as determined by MCU Board of Directors.
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REGULAR SHARE ACCOUNT. RATE INFORMATION: The dividend rate and annual percentage yield (APY) may change every dividend period as determined by the Credit Union Board of Directors.
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REGULAR SHARE ACCOUNT. As of the last dividend declaration date, the dividend rate was .10% with an annual percentage yield (APY) of .10% on your account. The dividend rate and annual percentage yield may change every 30 days as determined by the credit union board of directors.
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REGULAR SHARE ACCOUNT. Rate Information The dividend rate and annual percentage yield may change at any time, at the discretion of the credit union Board of Directors. Compounding and Crediting Dividends will be compounded every quarter. Dividends will be credited to your account every quarter Dividend Period The dividend period is quarterly. 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 March 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 March 31. Effect of Closing Account If you close your share account before dividends are paid, you will not receive the accrued dividends. Minimum Balance Requirements The minimum required to open this account is the purchase of one share in the credit union. You must maintain a minimum average daily balance of $150.00 in your account to obtain the disclosed annual percentage yield. Average Daily Balance Computation Method Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is the quarterly statement cycle. Accrual of Dividends on Non-Cash Deposits Dividends will begin to accrue on the first business day after the banking day you place non-cash items (for example, checks) to your account Transaction Limitations There are no transaction limitations for this account. Par Value of a Share The par value of a share in this account is $5.00. VACATION CLUB ACCOUNT/CHRISTMAS CLUB ACCOUNT Rate Information The dividend rate and annual percentage yield may change at any time, at the discretion of the credit union Board of Directors. Compounding and Dividends will be compounded every quarter. Dividends will be credited to your account every quarter Crediting Dividend Period The dividend period is quarterly. 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 March 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 March 31. Effect of Closing Account If you close your ...
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REGULAR SHARE ACCOUNT 
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Related to REGULAR SHARE ACCOUNT

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  • Suspense Account The Security Trustee and any Creditor Party may, for the purpose of claiming or proving in a bankruptcy of a Borrower or any other Security Party, place any sum received or recovered under or by virtue of this Guarantee or any Security Interest connected with it on a separate suspense or other nominal account without applying it in satisfaction of the Borrowers’ obligations under the Loan Agreement or the Master Agreements.

  • How Are Contributions to a Xxxxxxxxx Education Savings Account Reported for Federal Tax Purposes? Contributions to a Xxxxxxxxx Education Savings Account are reported on IRS Form 5498-ESA.

  • Multiple Individual Retirement Accounts In the event the depositor maintains more than one Individual Retirement Account (as defined in Section 408(a)) and elects to satisfy his or her minimum distribution requirements described in Article IV above by making a distribution from another individual retirement account in accordance with Item 6 thereof, the depositor shall be deemed to have elected to calculate the amount of his or her minimum distribution under this custodial account in the same manner as under the Individual Retirement Account from which the distribution is made.

  • Xxxx Individual Retirement Custodial Account The following constitutes an agreement establishing a Xxxx XXX (under Section 408A of the Internal Revenue Code) between the depositor and the Custodian.

  • Interest Bearing Account If the Province provides Funds before the Recipient’s immediate need for the Funds, the Recipient will place the Funds in an interest bearing account in the name of the Recipient at a Canadian financial institution.

  • How Are Distributions from a Xxxxxxxxx Education Savings Account Taxed For Federal Income Tax Purposes? Amounts distributed are generally excludable from gross income if they do not exceed the beneficiary’s “qualified higher education expenses” for the year or are rolled over to another Xxxxxxxxx Education Savings Account according to the requirements of Section (4). “Qualified higher education expenses” generally include the cost of tuition, fees, books, supplies, and equipment for enrollment at (i) accredited post-secondary educational institutions offering credit toward a bachelor’s degree, an associate’s degree, a graduate-level or professional degree or another recognized post-secondary credential and (ii) certain vocational schools. In addition, room and board may be covered if the beneficiary is at least a “half-time” student. This amount may be reduced or eliminated by certain scholarships, qualified state tuition programs, HOPE, Lifetime Learning tax credits, proceeds of certain savings bonds, and other amounts paid on the beneficiary’s behalf as well as by any other deductions or credits taken for the same expenses. The definition of “qualified education expenses” includes expenses more frequently and directly related to elementary and secondary school education, including the purchase of computer technology or equipment or Internet access and related services. To the extent payments during the year exceed such amounts, they are partially taxable and partially non-taxable similar to payments received from an annuity. Any taxable portion of a distribution is generally subject to a 10% penalty tax in addition to income tax unless the distribution is (i) due to the death or disability of the beneficiary, (ii) made on account of a scholarship received by the beneficiary, or (iii) is made in a year in which the beneficiary elects the HOPE or Lifetime Learning credit and waives the exclusion from income of the Xxxxxxxxx Education Savings Account distribution. You may be allowed to take both the HOPE or Lifetime Learning credits while simultaneously taking distributions from Xxxxxxxxx Education Savings Accounts. However, you cannot claim a credit for the same educational expenses paid for through Xxxxxxxxx Education Savings Account distributions. To the extent a distribution is taxable, capital gains treatment does not apply to amounts distributed from the account. Similarly, the special five- and ten-year averaging rules for lump-sum distributions do not apply to distributions from a Xxxxxxxxx Education Savings Account. The taxable portion of any distribution is taxed as ordinary income. The IRS does not require withholding on distributions from Xxxxxxxxx Education Savings Accounts.

  • Separate Account If Student-Generated Content is stored or maintained by the Provider, Provider shall, at the request of the LEA, transfer, or provide a mechanism for the LEA to transfer, said Student- Generated Content to a separate account created by the student.

  • Traditional Individual Retirement Custodial Account The following constitutes an agreement establishing an Individual Retirement Account (under Section 408(a) of the Internal Revenue Code) between the depositor and the Custodian.

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