Check Plus account Restrictions

Rate Information: The dividend rate and the annual percentage yield may change.

Compounding and Crediting frequency: Dividends are earned in the month following the month in which twelve debit card purchases are posted. Dividends will be credited at the end of the following month at the then current rate.

Dividend period: For this account, the dividend period is monthly. For example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the last day of the dividend period.

Effect of closing an account: If you close your check plus account before dividends are paid, you will not receive the accrued dividends.

Minimum balance requirements: No minimum balance required. (See Bylaw Requirements in the Common Features section below regarding credit union membership eligibility.)

Dividend computation method: Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

Accrual of dividends on noncash deposits: Dividends will begin to accrue on the business day you deposit noncash items (for example, checks) to your account.

Requirements: Member needs to provide a valid e-mail address. Member will be issued a Debit MasterCard® subject to eligibility requirements. Twelve debit card purchase transactions must post to the account each month in order to earn dividends in the following month in addition to any other limitations in the Common Features section. Member needs to have online banking access.

Common Features

Bylaw requirements: You must maintain a minimum daily balance of $5.00 in your share savings, youth savings, or checking account each day as a condition of membership and to receive member privileges.

Transaction limitation: At anytime, we reserve the right to request a notice in writing, a minimum of seven days before each withdrawal from a dividend-bearing account other than a time deposit or checking account, or from any other share savings account as defined by Regulation D.

Nature of dividends: Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period. (This disclosure further explains the dividend feature of your non-term share account(s).)

National Credit Union Share Insurance Fund: Member accounts in this credit union are federally insured by the National Credit Union Share Insurance Fund.

Please refer to our separate fee schedule for additional information about charges.