*Rewards Checking Qualification & Enhancements. Student Checking account will automatically convert to a Free Checking when the student becomes 26 years of age. Student Checking includes all the Free Checking Account features, plus an ATM surcharge refund of up to $10 per month. The Student Checking is available for anyone age 25 and under. Free Checking account will automatically receive the benefits of the Rewards Checking account, starting on the first day of each month if the previous monthly account activity meets the Rewards Checking requirements (see H for more details). The Free Checking Account offers full checking features, earns interest, and has no monthly service fee. If you do not meet these daily balance requirements, your account may not earn dividends or be subject to a service fee, if applicable. For money market and special savings accounts there is a minimum daily balance requirement to earn dividends. Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day. The minimum balance required to open each account is stated on the reverse side. checks) and cash deposits on the business day you make the deposit to your account. The Dividend Period begins on the first calendar day of the period and ends on the last day of the period.ĭividends will begin to accrue on non-cash (e.g. The Dividend Period for each account is also stated on the reverse side. The Dividend Rate and APY are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period.ĭividends will be compounded and credited as stated on the reverse side. The Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union Board of Directors.ĭividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period. The Annual Percentage Yield is the percentage rate that reflects the total of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. The Dividend Rate and Annual Percentage Yield on your accounts are stated on the reverse side. Except as specifically described, the following disclosures apply to all the accounts.
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