Premium Money Market Disclosure
- If your daily balance is $100,000.00 or more, the dividend rate on the entire balance in your account will be 0.40% with an annual percentage yield of 0.40%
- If your daily balance is $50,000.00 - $99,999.99, the dividend rate on the entire balance in your account will be 0.30% with an annual percentage yield of 0.30%
- If your daily balance is $10,000.00 - $49,999,99, the dividend rate on the entire balance in your account will be 0.20% with an annual percentage yield of 0.20%
- If your daily balance is $0.00 - $9,999.99, the dividend rate on the entire balance in your account will be 0.15% with an annual percentage yield of 0.15%
Compounding and Crediting: Dividends will be compounded every quarter. Dividends will be credited to your account every quarter.
Balance Computation Method: Dividends are calculated using the daily balance method. This method applies a daily periodic rate to the principal in the account each day.
Minimum Balance Requirements: There are no minimum balance requirements for this account.
- Transaction Fee : $10.00 after the first withdrawal or transfer out of your account each month
Nature of dividends: Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.
Par value of shares; Dividend period: The par value of a regular share in this Credit Union is $5.00. The dividend period of the Credit Union is quarterly, beginning on the first day of the quarter and ending on the last day of the quarter.
National Credit Union Share Insurance Fund: Member accounts in this Credit Union are federally insured by the National Credit Union Share Insurance Fund.
Transaction Limitations: During any month, you may not make more than six (6) withdrawals or transfers to another credit union account of yours or to a third party by any means of a preauthorized, automatic, or computer transfer, telephonic order or instruction, or by check, draft, debit card, or similar order to a third party. If you exceed the transfer limitation set forth above, your account will be subject to closure by the credit union. After the first withdrawal or transfer out of your account each month, you will incur a fee of $10.00 for each such transaction.
Bylaw Requirements: You must complete payment of one share ($5.00) in your Owner Voting Share account as a condition of membership.
Your dividend rate and annual percentage yield may change at any time without notice. Accrued dividends are forfeited if account is closed prior to monthly dividend posting. Fees or other conditions may reduce earning on the account. Refer to Central One Federal Credit Union's Member Service Agreement and Schedule of Service Charges.