 |
 |
 |
|
|
Disclosures
» Account Disclosures Share & Share Draft Accounts Truth - In - Savings Account Disclosures - Share & Share Draft Accounts The rates, fees, and terms applicable to your account at the Credit Union are provided in this Rate and Fee Schedule.
The Credit Union may offer other rates for these accounts from time to time. Last Dividend Declaration Date: September 17, 2008
Except as specifically described, the following disclosures apply to all of the accounts. All accounts described in this Rate and Fee Schedule are share accounts. 1. Rate information. The Annual Percentage Yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. For Prime Share, Other Share, Special Share, Vacation Club and Christmas Club accounts, the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union´s Board of Directors. The Dividend Rates and Annual Percentage Yields are the rates and yields as of the last dividend declaration date which is set forth in the Rate Schedule. 2. Nature of Dividends. Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period. 3. Dividend Compounding and Crediting. The compounding and crediting of dividends and dividend period applicable to each account are set forth in the Rate Schedule. The Dividend Period is the period of time at the end of which an account earns dividend credit. The Dividend Period begins on the first calendar day of the period and ends on the last calendar day of the period. 4. Accrual of Dividends. For Prime Share, Other Share, Special Share, Vacation Club alnd Christmas Club accounts, dividends will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account. For Prime Share, Other Share, Special Share, Vacation Club alnd Christmas Club accounts, If you close your account before accrued dividends are credited, accrued dividends will not be paid. 5. Balance Information. The minimum balance requirements applicable to each account are set forth in the Rate Schedule. For Prime Share, Other Share, Special Share, Vacation Club alnd Christmas Club accounts using an Average Daily Balance method, dividends are calculated by applying a periodic rate to the average daily balance in the account for the period. The average daily balance is determined by adding the full amount of principal in the account for each day of the period and dividing that figure by the number of days in the period. * For Special Share Accounts, you are required to have $2,000.00 secured in a Prime Share account. 6. Account Limitations. For a Christmas Club account, the entire balance will be paid to you as a transfer to another account of yours on or after October 1 and the account will remain open. If you withdraw any of the account balance at any time, we may impose a fee of all accrued, uncredited dividends on the account and your account will be closed. You may make transfers or withdrawals in the first seven (7) days after the account is opened without restriction. For Prime Share, Other Share, Special Share, Vacation Club and Share Draft accounts, no account limitations apply. Fee Schedule - Fees Effective June 1, 2007 The rates and fees appearing in this Schedule are accurate and effective for accounts as of the Last Dividend Declaration Date indicated on the Rate & Fee Schedule. If you have any questions or require current rate and fee information on your accounts, please call the Credit Union
Truth - In - Savings Account Disclosures - Share Certificate Accounts Except as specifically described, the following disclosures apply to all of the accounts. 1 Rate Information.The Annual Percentage Yield is a percentage rate that reflects the total amount of interest to be paid on an account based on the interest rate and frequency of compounding for an annual period. For Share Certificate and 30 Month Share Certificate accounts, the Interest Rate and Annual Percentage Yield are fixed and will be in effect for the term of the account. For 48 Month Share Certificate accounts, the Interest Rate and Annual Percentage Yield may change two (2) times over term of Certificate per request of members. For accounts subject to Interest compounding, the Annual Percentage Yield is based on an assumption that interest will remain on deposit until maturity. A withdrawal of interest will reduce earnings. 2. Interest Compounding and Crediting. The compounding and crediting of interest applicable to each account is stated in the Rate Schedule. 3. Balance Information. The minimum balance requirements applicable to each account are stated in the Rate Schedule. For all accounts, interest is 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 determined by adding the full amount of the principal in the account for each day of the period and dividing that figure by the number of days in the period. 4. Accrual of Interest. For all accounts, interest will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account. 5. Transaction Limitations. After your account is opened, your ability to make additional deposits to your account or withdrawals of interest and any limitations on such transactions are set forth in the Rate Schedule. 6. Maturity. Your account will mature as stated on this Rate and Fee Schedule or on your Account Receipt or Renewal Notice. Early Withdrawal Penalty.We may impose a penalty if you withdraw from your account before the maturity date. Amount of Penalty.For 30 Month Share Certificate accounts, the amount of early withdrawal penalty for your accounts is 180 days interest. For 48 Month Share Certificate accounts, the amount of early withdrawal penalty for your accounts is 180 days interest and account will be closed. For Share Certifcate accounts, the amount of the early withdrawal penalty is based on the term of your account. The penalty schedule is as follows: Terms of 6 months - 90 days interest Terms of 12 months - 180 days interest How the Penalty Works. The penalty is calculated as a forfeiture of part of the interest that has been or would be earned on the account. It applies whether or not the interest has been earned. In other words, if the account has not yet earned enough interest or if the interest has already been paid, the penalty will be deducted from the principal. Exceptions to Early Withdrawal Penalties. At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances: (i) When an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction. (ii) Where the account is an Individual Retirement Account (IRA) and any portion is paid within seven (7) days after establishment; or where the account is a Keogh Plan (Keogh) provided that the depositor forfeits an amount of at least equal to the simple interest earned in the amount withdrawn; or where the account is an IRA or Keogh and the owner attains age 59 1/2 or becomes disabled. Renewal Policy. The renewal policy for your accounts is indicated on the reverse side. For all accounts, your account will automatically renew for another term upon maturity. For all accounts, you have a grace period of seven (7) days after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty. Nontransferable/Nonnegotiable. Your account is nontranferable and nonnegotiable. The funds in your account may not be pledged to secure any obligation of an owner, except obligations with the Credit Union. The rates and fees appearing in this Schedule are accurate and effective for accounts as of the Effective Date indicated on this Rate and Fee Schedule. If you have any questions or require current rate and fee information on your accounts, please call the Credit Union.
Electronic Funds Transfer Agreement & Disclosure The following is an Adobe Acrobat file. Centel Credit Union is constantly concerned about our member's critical information and privacy. With this in mind, we have the following security services installed on our Internet server:
Each server is behind a Firewall. This UNIX based hardware product blocks critical ports and IP addresses on servers from external attack and access. Each server runs proprietary software that constantly monitors the servers for unauthorized use and attempts to "hack" into information. Administrators are contacted when forced attacks are committed, and countermeasures can be applied to stop these instances. All administrative activity requires user login and authentication. All administrative updates are logged into files that can be reviewed later. All servers come with a Global Verisign Certificate (RSA) for digitally encrypted communications between the Web server and your member. Information passed in applications can not be decrypted by third parties attempting to "pick" information being passed across the Internet backbone. All servers run the latest version of Apache Web Server, considered the strongest and most secure Web server software on the market. A Private Note to Our Members: Our credit union is committed to making available financial products and services that will enable you to meet your financial needs and reach your financial goals. Protecting personal information and using it in a manner consistent with your expectations is a high priority for everyone associated with our credit union. As a member of our credit union, you also have a responsibility to safeguard your financial information. To ensure that you can rely upon the quality of products and services we make available, our credit union stands behind the following privacy policy: - Our credit union will collect only the personal information that is necessary to conduct our business. That means just what is necessary to provide competitive financial products and services - no more. - Our credit union will protect your personal information. Our credit union will maintain strong security controls to ensure that member information in our files and computers is protected. Where appropriate, we will use security coding techniques to protect against unauthorized access to personal records, ensure accuracy and integrity of communications and transactions, and protect member confidentiality. - You will always have access to your information. As a member of our credit union, you will always have the opportunity to review your information and make necessary changes to ensure that our records are complete and accurate. - Our credit union will only share information when absolutely necessary. We will only share information to administer the products and services we provide, when required to do so by the government, or when we partner with other businesses to offer a broader array of products and services. - Our credit union will partner only with businesses that follow strict confidentiality requirements. The businesses we select will offer products designed to enhance our members´ economic well-being. Under no circumstances will we authorize these firms to charge your account without your express consent, and we will not sell member information to telemarketing firms. - Our credit union will offer you a choice in how your information is used. Any member of our credit union may elect to keep their information from being shared with our business partners. We will inform you on how to exercise your choice, and we will take all reasonable steps to make sure your requests are followed. At least once a year, we will remind all members of your right to choose
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
