Savings accounts disclosures, rates and fees
Each account holder agrees to the terms set forth on this Account Rate Schedule and acknowledges that it and the Truth in Savings Disclosure are part of the Membership and Account Agreement. The credit union may offer other rates in the future. Fees or other conditions may reduce the earnings of an account.
| Account | Minimum balance to earn dividends* | Dividend rate | Annual Percentage Yield (APY) |
|---|---|---|---|
| Basic Savings | $100.00 | 0.15% | 0.15% |
| Scottie Savers** | $5.00 | 0.15% | 0.15% |
| TLT (Teen) Savings** | $5.00 | 0.15% | 0.15% |
| Minimum balance to open all savings accounts is $5.00. | |||
* Minimum balance that must be maintained each day to earn dividends. ** Members under 18 require a parent or guardian as a joint signer. | |||
| Fee type | Product fees |
|---|---|
| Basic Savings account | |
$250 minimum balance |
No charge |
Less than $250 minimum balance |
$3.00 / calendar month |
| Scottie Savers Club - Age 0 to 12 | No charge |
| TLT Savings account | No charge |
Basic Savings must maintain a minimum daily balance of more than $250 or, if less than $250, have one other account type to avoid a $3 service fee per calendar month. If you have multiple Basic Savings Accounts, each account may receive a separate fee based on each individual balance. The $3.00 fee is not applicable to Scottie Savers or TLT Accounts.
| |
| Overdraft Paid (Courtesy Payment) | |
| $10.00 or less | No fee |
| $10.01 or greater | $10 per presentment** |
| Returned Item fee (non-sufficient funds) | |
| $10.00 or less | No fee |
| $10.01 or greater | $3 per presentment*** |
** Overdraft Paid fees are limited to a daily maximum of 5 overdraft fees per day per account. *** Returned Item fees are limited to one per day per account. We may charge a fee each time an item is submitted or resubmitted for payment. Therefore, you may be assessed more than one Returned Item fee as a result of a returned item or resubmission(s) of the returned item. | |