Rates
Prospective Dividend Rates and Annual Percentage Yields
APY = Annual Percentage Yield
Effective Date: 08/15/2008
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| TYPE OF ACCOUNT |
DIVIDEND RATE |
APY |
| Regular Share Account |
Balance Tiers |
|
| $25.00 to $999,999.99 |
.50% |
.50% |
1. SHARE ACCOUNT RATE INFORMATION:
Variable Rate Accounts:
The Annual Percentage Yield is a percentage rate that shows the amount of Dividend based on the dividend rates and frequency of compounding for a 365 Day period. The Dividend Rate and Annual Percentage Yield may change at any time as determined by the Board of Directors.
2. COMPOUNDING:
Dividends will be compounded and credited quarterly. The dividends period begins on the first calendar day and ends on the last calendar of the period.
3. EFFECT OF CLOSING AN ACCOUNT:
If the account is closed before dividends are paid, accrued dividends will not be paid for the period.
4. MINIMUM BALANCE REQUIREMENTS:
$25.00 is required to open the account. To earn the Annual Percentage Yield disclosed, a minimum daily balance of $25.00 for each day of the dividend period is required. Dividends are calculated using the average.
5. FEES: See Attached Sheet
6. NATURE OF DIVIDENDS:
Dividends are paid from current income and available earnings, after required transfers to reserve at the end of the dividend period. The dividend Rates and Annual Percentage Yields are the Prospective Rate and Yields the Credit Union anticipates paying for the applicable dividend period. Continued on other side Your savings federally insured to $100,000 NCUA National Credit Union Administration, a US Government Agency
7. TRANSACTION LIMITATIONS:
For a share savings account in which limitations apply, no more than six (6) preauthorized, automatic, or telephone transfers may be made from these accounts to another account of yours or to a third party in any month, and no more than three (3) of these six (6) transfers may be made by check to a third party. If you exceed these limitations, your account may be subject to a fee or may be closed.
Effective Date: 08/15/2008
SHARE CERTIFICATE ACCOUNTS
APY = Annual Percentage Yield |
| TERM |
AMOUNT |
DIVIDEND RATE |
APY |
EARLY W/D PENALTY |
| 3 months |
$500.00 - $24,999.99 |
2.00% |
2.02% |
30 days interest |
| 6 months |
|
2.25% |
2.27% |
30 days interest |
| 12 months |
|
2.50% |
2.52% |
60 days interest |
| 18 months |
|
2.75% |
2.78% |
90 days interest |
| 24 months |
|
3.00% |
3.03% |
180 days interest |
| 3 months |
$25,000.00 and over |
2.25% |
2.27% |
30 days interest |
| 6 months |
|
2.50% |
2.52% |
30 days interest |
| 12 months |
|
2.75% |
2.78% |
60 days interest |
| 18 months |
|
3.00% |
3.03% |
90 days interest |
| 24 months |
|
3.25% |
3.29% |
180 days interest |
A minimum deposit of $500.00 is required to open a share certificate. The Dividend Rate and Annual Percentage yield are fixed and will be in effect for the term of the certificate. The Board of Directors determines these rates at their monthly meetings. A substantial penalty will be imposed for early withdrawal.
HOW THE PENALTY WORKS:
The penalty is calculated on the part of the dividends that have been or would be earned on the share certificates, and applied whether or not the dividends have been earned. The penalty will be deducted from the principal. No penalty will be imposed if early withdrawal is requested due to the death of the certificate holder.
RENEWAL TERMS:
All certificates are automatically renewed at maturity. There is a ten (10) grace period after maturity to withdraw or close the account. Notices will be mailed prior to maturity and upon renewal. Dividends will be compounded and credited quarterly and at maturity. Dividends earned will be paid at the end of each quarter and on maturity.
Share certificates are non-negotiable, not-transferable, and non-assignable, with the exception that it may be pledged as collateral on a loan at the Alamosa Credit Union. All shares and share certificates are federally insured to $100,000 with NCUA.
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