Disclosures

Certificate Account Disclosure

Each account holder agrees to the terms set forth on this Certificate Account Rates and Disclosure and acknowledges that it is part of the Membership and Account Agreement.

  1. Rate Information: The Dividend Rates and Annual Percentage Yields are based upon the balance ranges as set forth in the Certificate Account Rates chart. 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. The Dividend Rate and Annual Percentage Yield are fixed and will be in effect for the term of the Account.
  2. Compounding and Crediting: Dividends will be compounded daily and credited monthly. The Dividend Period begins on the first calendar day of the month and ends on the last calendar day of the month.
  3. Balance Information: The minimum balance required to open and maintain each account is $500. Dividends are calculated by the daily balance method which applies a daily periodic rate to the principal in the account each day.
  4. Accrual of Dividends: Dividends begin to accrue on cash and non-cash (i.e., checks) deposits on the business day you make the deposit to your account.
  5. Transaction Limitations: After your account is opened, you may not make additional deposits to your certificate account. You may make dividend withdrawals. A withdrawal of dividends will reduce earnings.
  6. Maturity: Your account will mature within the term set forth at the time of opening your certificate.
  7. Early Withdrawal Penalty: We may impose a penalty if you withdraw any of the principal before the maturity date.
    • How the penalty works: If certificate funds other than dividends are withdrawn prior to maturity, a penalty is imposed. The penalty assessed may reduce the remaining balance after the withdrawal. If the amount withdrawn reduces the balance below the minimum balance required, the certificate will be canceled and the penalty will be taken from the entire principal balance.
    • Amount of penalty: The amount of the early withdrawal penalty is based on the term of your account. Term of 365 days or more = $25, plus 3% of the amount withdrawn. Term of 364 days or less = $25, plus 1% of the amount withdrawn. Earned dividends will not be subject to a penalty.
    • Exceptions to Early Withdrawal Penalties: 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 an IRA and the owner attains age 59 1/2 or becomes disabled.
  8. Renewal Policy: Your account will automatically renew for another term upon maturity if we do not receive other instructions from you. These accounts do not have a grace period. Any changes to the account after the maturity date will result in withdrawal penalties.
  9. Nontransferable/Nonnegotiable: Your account is nontransferable and nonnegotiable. The funds in your account may not be pledged to secure any obligation of an owner, except obligations with the Credit Union.

Certificate Account Disclosure

Each account holder agrees to the terms set forth on this Certificate Account Rates and Disclosure and acknowledges that it is part of the Membership and Account Agreement.

  1. Rate Information: The Dividend Rates and Annual Percentage Yields are based upon the balance ranges as set forth in the Certificate Account Rates chart. 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. The Dividend Rate and Annual Percentage Yield are fixed and will be in effect for the term of the Account.
  2. Compounding and Crediting: Dividends will be compounded daily and credited monthly. The Dividend Period begins on the first calendar day of the month and ends on the last calendar day of the month.
  3. Balance Information: The minimum balance required to open and maintain each account is $500. For Scottie and TLT certificates the minimum opening balance is $250. Dividends are calculated by the daily balance method which applies a daily periodic rate to the principal in the account each day.
  4. Accrual of Dividends: Dividends begin to accrue on cash and non-cash (i.e., checks) deposits on the business day you make the deposit to your account.
  5. Transaction Limitations: After your account is opened, you may not make additional deposits to your certificate account. You may make dividend withdrawals. A withdrawal of dividends will reduce earnings.
  6. Maturity: Your account will mature within the term set forth at the time of opening your certificate. For IRA certificates, the minimum term is twelve (12) months.
  7. Early Withdrawal Penalty: We may impose a penalty if you withdraw any of the principal before the maturity date.
    • How the penalty works: If certificate funds other than dividends are withdrawn prior to maturity, a penalty is imposed. The penalty assessed may reduce the remaining balance after the withdrawal. If the amount withdrawn reduces the balance below the minimum balance required, the certificate will be canceled and the penalty will be taken from the entire principal balance.
    • Amount of penalty: The amount of the early withdrawal penalty is based on the term of your account. Term of 365 days or more = $25, plus 3% of the amount withdrawn. Term of 364 days or less = $25, plus 1% of the amount withdrawn. Earned dividends will not be subject to a penalty.
    • Exceptions to Early Withdrawal Penalties: 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 an IRA and the owner attains age 59 1/2 or becomes disabled.
  8. Renewal Policy: Your account will automatically renew for another term upon maturity if we do not receive other instructions from you. These accounts do not have a grace period. Any changes to the account after the maturity date will result in withdrawal penalties.
  9. Nontransferable/Nonnegotiable: Your account is nontransferable 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 par value of a Regular Share in the Credit Union is $5.00.


Truth in savings

Rate information

The dividend rate and Annual Percentage Yield (APY) may change monthly as determined by the Board of Directors. 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. Accounts closed prior to crediting dividends will not receive accrued dividends. For Free Checking and TLT Checking accounts the rate may also fluctuate based on your Member Merits category. For members in the Essential category, no dividends will be paid; for members in the Enhanced and Premier categories the dividend rate and Annual Percentage Yield are set forth in the Rates and Fees page. The dividend rate and Annual Percentage Yield for the next month is based upon your Member Merit status on the last day of the previous month. The Investor’s Money Market account is a tiered rate account. The dividend rate and Annual Percentage Yield applicable to each account depends on the balance ranges set forth in the Rates and Fees page. Once a balance range is met, the dividend rate and Account Percentage Yield for that range will apply to the entire balance in your account.

Nature of dividends

Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period. The dividend rate and Annual Percentage Yield set forth above are the prospective rates that the Credit Union anticipates paying for the dividend period. The dividend period begins on the first calendar day of the month and ends on the last calendar day of the month. Dividends begin to accrue on cash and non-cash (e.g., checks) deposits on the business day you make the deposit to your account. Dividends are compounded and credited monthly.

Balance information

Dividends and minimum balances for all accounts except Free Checking and TLT Checking accounts are calculated by the daily balance method, which applies a daily periodic rate to the principal in the account each day. Dividends and minimum balance for Free Checking and TLT Checking accounts 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 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 Money Market accounts there is a minimum balance requirement of $1,000 to avoid a service fee. For Investor’s Money Market accounts there is a minimum balance requirement of $10,000 to avoid a service fee.

Transaction limitations

For savings and money market accounts, up to six (6) ACH, pre-authorized, automatic telephone transfers, and online banking transfers may be made from these accounts to another account of yours or to a third party in any amount, during any calendar month. If you exceed these limitations, the transfer may be refused or returned and your account may be subject to a fee or be closed.

Truth in savings for business accounts

Rate information

The dividend rate and Annual Percentage Yield may change monthly as determined by the Board of Directors. 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. Accounts closed prior to crediting dividends will not receive accrued dividends. The Investor’s Money Market and Select Business Checking accounts are tiered rate accounts. The dividend rate and Annual Percentage Yield applicable to each account depends on the balance ranges set forth above. Once a balance range is met, the dividend rate and Annual Percentage Yield for that range will apply to the entire balance in your account.

Nature of dividends

Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period. The dividend rate and Annual Percentage Yield set forth above are the prospective rates that the Credit Union anticipates paying for the dividend period. The dividend period begins on the first calendar day of the month and ends on the last calendar day of the month. Dividends begin to accrue on cash and non-cash (e.g., checks) deposits on the business day you make the deposit to your account. Dividends are compounded and credited monthly.

Balance information

Dividends and minimum balance for all accounts except Smart Business Checking accounts are calculated by the daily balance method, which applies a daily periodic rate to the principal in the account each day. Dividends and minimum balance for Smart Business Checking accounts 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 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 Smart Business Checking accounts there is an average daily minimum balance requirement of $3,000 to avoid a service fee. For Business Money Market accounts there is a daily minimum balance requirement of $1,000 to avoid a service fee. For Business Investor’s Money Market accounts there is a daily minimum balance requirement of $10,000 to avoid a service fee.

Transaction limitations

For savings and money market accounts, up to six (6) ACH, pre-authorized, automatic telephone transfers, and online banking transfers may be made from these accounts to another account of yours or to a third party in any amount, during any calendar month. If you exceed these limitations, the transfer may be refused or returned and your account may be subject to a fee or be closed.


Business Truth in Savings

Rate information

The Dividend Rate and Annual Percentage Yield may change monthly as determined by the Board of Directors. 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. Accounts closed prior to crediting dividends will not receive accrued dividends. The Investor’s Money Market and Select Business Checking accounts are tiered rate accounts. The Dividend Rate and Annual Percentage Yield applicable to each account depends on the balance ranges set forth above. Once a balance range is met, the Dividend Rate and Annual Percentage Yield for that range will apply to the entire balance in your account.

Nature of Dividends

Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period. The Dividend Rate and Annual Percentage Yield set forth above are the prospective rates that the Credit Union anticipates paying for the dividend period. The dividend period begins on the first calendar day of the month and ends on the last calendar day of the month. Dividends begin to accrue on cash and non-cash (e.g., checks) deposits on the business day you make the deposit to your account. Dividends are compounded and credited monthly.

Balance Information

Dividends and minimum balance for all accounts except Smart Business Checking accounts are calculated by the daily balance method, which applies a daily periodic rate to the principal in the account each day. Dividends and minimum balance for Smart Business Checking accounts 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 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 Smart Business Checking accounts there is an average daily minimum balance requirement of $3,000 to avoid a service fee. For Business Money Market accounts there is a daily minimum balance requirement of $1,000 to avoid a service fee. For Business Investor’s Money Market accounts there is a daily minimum balance requirement of $10,000 to avoid a service fee.

Transaction Limitations

For savings and money market accounts, up to six (6) pre-authorized, automatic telephone transfers, and online transfers may be made from these accounts to another account of yours or to a third party in any amount during any calendar month. If you exceed these limitations, your account may be subject to a fee or be closed.


Oregon State Credit Union ©2017 Oregon State Credit Union

  • PO Box 306
  • Corvallis, OR 97339
  • Phone: 800-732-0173

Routing number : 323274270