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Rates

Savings & Checking Rate Schedule Personal & Business

Effective Date: 26 MAY 2015

Account Type

Tier 1

APY

Tier 2

APY

Tier 3

APY

Tier 4

APY
Regular Savings
Personal & Business
0.00% 0.05% 0.15% 0.25%
  • No minimum.
Children’s Savings
0.05%      
  • No minimum.
Reserve Savings 0.00% 0.05% 0.15%  
  • No minimum.
  • Account Limitations Apply: See note #7 below.
Holiday Savings 0.10% 0.18%    
  • No minimum.
  • Account Limitations Apply: See note #7 below.
IRA (Traditional/Roth) 0.00% 0.05% 0.15% 0.30%
  • No minimum.
  • Account Limitations Apply: See note #7 below.
Money Market
Personal & Business
0.00% 0.25% 0.30% 0.40%
Premier
  • No minimum.
  • Account Limitations Apply: See note #7 below.
Coverdell 0.00% 0.05% 0.15% 0.30%
Health 0.01%
Personal Checking
Totally Free Checking 0.00%      
  • No minimum.
Interest Checking 0.00% 0.05% 0.10% 0.10%
  • $2,500 minimum balance to avoid fee, see note #6.
  • Balance Method: Average Daily Balance.
ecoChecking 0.00%      
  • No minimum.
Business Checking 0.00% 0.05% 0.05% 0.10%
  • No minimum.
  • Balance Method: Average Daily Balance.

Terms and Conditions

The rates and terms applicable to your account at the Credit Union are provided in this Rate Schedule. The Credit Union may offer other rates for these accounts from time to time. The rates appearing in this Schedule are effective for deposit accounts as of the last Dividend Declaration Date. If you have any questions or require current rate information on your accounts, please call or write the Credit Union.

[View the Disclosures for Savings and Checkings]

  1. Rate Information. The Annual Percentage Yield (APY) 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 may change as determined by the Credit Union's Board of Directors.
  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 this Rate Schedule. The Dividend Period is the period of time at the end of which an account earns dividend credit. The Dividend Rates and Annual Percentage Yields are the rates and yields as of the last Dividend Declaration Date which is set forth in this Rate Schedule.
  4. Accrual of Dividends. Dividends will begin to accrue on non-cash deposits (e.g. checks) on the business day you make the deposit to your account. If you close your account before accrued dividends are credited, accrued dividends will not be paid.
  5. Balance Method. Unless noted above, dividends are compounded and credited monthly according to the Daily Balance method which applies a daily periodic rate to the principal balance. The Dividend Period is the calendar month.
  6. Balance Information. Personal Interest checking requires a balance of $2,500 to avoid a fee as set forth in the Fee Schedule.
  7. Account Limitations. For Holiday Savings, Reserve Savings, and Money Market accounts, 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 calendar month. The Credit Union may refuse transfers in excess of these limitations and your account may be subject to a fee. For a Holiday Savings account, the entire balance will be paid to you by transfer to another 121 FCU account of yours on or after October 1, or November 1 (your choice) and the account will remain open. You may be charged a withdrawal fee for each withdrawal from the Holiday account. For Share and Share Draft (Checking) accounts, no account limitations apply.
  8. eStatements. All Private PC (online banking) members will automatically be enrolled in eStatements with continuous free online banking and Check Imaging. Private PC members who elect to receive a paper statement will be charged a monthly fee for the paper statement as set forth in the Fee Schedule.

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Term Share Certificate Rate Schedule

Effective as of 16 May 2016

Term Share Certificates

Term

Dividend Rate

APY

  3 month 0.20% 0.20%
  6 month 0.30% 0.30%
12 month (1 year) 0.55% 0.55%
24 month (2 year) 0.70% 0.70%
36 month (3 year) 1.04% 1.05%
48 month (4 year) 1.24% 1.25%
60 month (5 year) 1.54% 1.55%
  • Minimum Deposit of $500 to open & earn dividends.

Right Course Certificates

Term

Dividend Rate

APY

12 month (1 year) 0.05% 0.05%
24 month (2 year) 0.20% 0.20%
  • Minimum Deposit of $10 to open & earn dividends.
  • Deposits Allowed.

Terms and Conditions

The rates appearing in this Rate Schedule are effective for deposit accounts as of the effective date indicated above. If you have any questions or require current rate and fee information on your accounts, please call or write the Credit Union.

Except as specifically described above, the following disclosures apply to all of 121 Financial Term Share Certificates.

[View the Disclosures for Certificates]

  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. The Dividend Rate and Annual Percentage Yield are fixed and will be in effect for the term of the account. The Annual Percentage Yield is based on an assumption that dividends will remain on deposit until maturity. A withdrawal of dividends will reduce earnings.
  2. Dividend Compounding and Crediting. Compounded and credited monthly.
  3. Balance Information. The minimum balance requirements applicable to each account are noted in the schedule above. 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 will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your certificate.
  5. Transaction Limitations. After your account is opened, you may not make additional deposits, except as noted in the schedule above.
  6. Maturity. Your account will mature as indicated on this Rate Schedule or on your Account Receipt or Renewal Notice.
  7. Early Withdrawal Penalty. We may impose a penalty if you withdraw any of the principal before the maturity date.
    • Amount of Penalty. The amount of the early withdrawal penalty is based on the term of your account. The penalty schedule is as follows: for terms of 30 to 364 days, 30 days dividends; terms of 365 to 729 days, 90 days dividends; terms 730 days or more, 180 days dividends.
    • How the Penalty Works. The penalty is calculated as a forfeiture of part of the dividend that has been or would be earned on the account. It applies whether or not the dividend has been earned. In other words, if the account has not yet earned enough dividends or if the dividends have already been withdrawn, the penalty will be deducted from the principal. The penalty does not apply to any of the following withdrawals: withdrawal subsequent to the death of any owner; or if the account is part of a qualified individual retirement plan (IRA) and the withdrawal is to effect distribution of funds upon the participant's disability or attainment of not less than 59 1/2 years of age.
  8. Renewal Policy. Regular term certificates (three, six, twelve, twenty-four, thirty-six, forty-eight, and sixty month terms) will automatically renew at the existing term. Certificate specials and "choose your maturity date" certificates will renew at the next shortest available term. You have a grace period of seven (7) days after maturity in which to withdraw the funds in the account without being charged an early withdrawal penalty.

Nontransferable/Nonnegotiable. Your account is nontransferable and nonnegotiable. IRA certificates may not be used as collateral for a loan.

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