Checking and savings account disclosure.
Except as specifically described, the following disclosures apply to all the accounts.
The Dividend Rate and Annual Percentage Yield on your accounts are stated on the rate page. The Annual percentage Yield is the percentage rate that reflects the total 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 monthly as determined by the Credit Union Board of Directors.
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 APY are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period.
Dividends will be compounded and credited as stated on the rate page. The Dividend Period for each account is also stated on the rate page. The Dividend Period begins on the first calendar day of the period and ends on the last day of the period.
Dividends will begin to accrue on non-cash (e.g. checks) and cash deposits on the business day you make the deposit to your account. If you close your account before accrued dividends are paid, you will not receive the accrued dividends.
The minimum balance required to open each account is stated on the rate page. Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day. For all accounts there is a minimum daily balance requirement to earn dividends. If you do not meet these daily balance requirements, your account may not earn dividends.
For money market savings accounts or special savings accounts you may not make more than six (6) preauthorized, automatic, telephonic, audio response, Internet or overdraft transfers to another account of yours or to a third party during any calendar month. If you exceed the transfer limitations in any calendar month, your account may be subject to a transfer fee or be closed.
The Rewards Checking account is a tiered rate account based upon satisfying certain qualifications. If a primary member* meets the Rewards Checking qualifications for a particular month, the Dividend Rate and Annual Percentage Yield for the following month will be the highest Dividend Rate and Annual Percentage Yield shown. If you do not meet the Rewards Checking qualifications in one month, the Dividend Rate and Annual Percentage Yield will be the lowest Dividend Rate and Annual Percentage Yield shown. Qualifying transactions must posted to the account prior to the last day of the month. Debit & credit card purchases can take up to 3 days to post and are dependent on merchant processing times.
*At least one membership account where an individual is named as the primary member must meet all qualifications.
The qualifications for Rewards Checking enhancements include:
In addition to a higher Rewards Checking Dividend Rate and Annual Percentage Yield, the benefits include:
|Monthly Service Charge:|
|Free, Rewards and Student Checking||No Charge|
|Student Checking (age 25 and younger) Surcharge refund up to $10/mo per member.||No Charge|
|Check Printing Charges:|
|Initial order of 50 duplicate exclusive design checks||No Charge|
|One box of 50 duplicate exclusive design checks.||$ 8.06|
|One box of 100 duplicate exclusive design checks
Additional styles and designs are subject to vendor pricing
|Per Check Charge||No Charge|
|Overdraft Transfer Fee (See account limitations):|
|From savings in $100 increments||No Charge|
|Amount of overdraft, if less than $100 is available and balance is sufficient to cover overdraft||No Charge|
NOTE: Up to 2 check copies with respect to each statement cycle will be provided at no charge when the following information is supplied: check number, amount, payee, posting date and trace number (posting date and trace number are shown on the monthly statement).
|$ 2.00 each|
|Rush/Faxed Check Copy||$ 5.00 each|
|Postdated Order (per check) (Postdated orders must be in writing)||$ 15.00|
|Bill Pay||No Charge|
|First Check request per day||No Charge|
|Up to 3 checks per day with account or loan relationship ≥ $5,000 or more||No Charge|
|Each additional check(s) issued at the Teller Window|
NOTE: No charge for checks payable to members for any amount through the Touchtone Teller or Secure Support link in Online Banking.
|Stop Payment Order||$ 15.00|
Return Item Fee/Overdraft (Courtesy Pay) Fee (per check/ACH item)
(Limit of 3 NSF/CP fees per day)
1st occurrance free in year, subsequent items
Returned due to: insufficient funds in account, closed account, refer to maker, improper completion of check, incorrect account number, check written against deposited funds not yet collected by the Credit Union, checks paid against insufficient or uncollected funds or items/checks overdrawing account paid for by the Credit Union (Courtesy Pay).
|Courtesy Pay Negative Balance Threshold Limit||No charge for $30 or under|
|Foreign Check Collection Fee (Plus any bank charges - if applicable)||$ 50.00|
|Domestic Check Collection Fee||$ 20.00|
|Outgoing International ACH (Limited Countries)||$ 20.00|
|Incoming International ACH Fee||No Charge|
|Incoming Wire Fee||No Charge|
|Domestic Outgoing Wire Fee||$ 40.00|
|With account or loan relationship ≥ $5,000||$ 30.00|
|International Outgoing Wire Fee||$ 60.00|
|With account or loan relationship ≥ $5,000||$ 50.00|
|Duplicate Statement Copy||$ 3.00|
|Legal Response Fee (per request)||$ 28.00|
|Account Research/Reconciliation (per hour) (Based on 15-minute increments)||$ 28.00|
|Expedited Package Delivery, Domestic
Only available for CU business
|Subject to vendor pricing|
|Expedited Package Delivery, International
Only available for CU business
|Subject to vendor pricing|
|Returned Deposit/Payment from member||$ 15.00|
|Returned Deposit/Payment from non-member||$ 10.00|
|Stop Payment Order (including ACH)|
Via Branch or Call Center
Via Online Banking
|Medallion Stamps (per person)
2nd and subsequent signature
|Limit of 1 free|
|Travelers Checks||No Charge|
|VISA Gift Card||$ 3.95 each|
|Notary Fee - (per person)||Limit of 1 free|
|2nd and subsequent notarized document||$15.00|
|Verification of Deposits and Immigration Letters||$ 5.00 each|
|Non-Member Check Cashing Fee||$ 5.00 each|
|Escheat Notification - 2nd Notice||$ 2.00|
|Escheat Notification - accounts <$25
|Invalid Address (2nd and each subsequent notice)||$ 2.00|
|VISA Currency Conversion/Foreign Transaction Fee||No Charge|
|Replacement Cards||First free per year, subsequent $5.00|
|Electronic Funds Transfer Fees|
|Transactions at Star One CU owned ATM||No Charge|
|Point of Sale Purchases||No Charge|
|Transactions at non-proprietary ATM or merchant:|
Additional fees may be imposed by the machine owner or merchant. These will be assessed and disclosed at the machine or Point of Sale terminal.
|ATM Cash Withdrawals:|
|First twenty (20) per calendar month||No Charge|
|21st and subsequent per calendar month||$ 1.00 each|
|On membership accounts with deposit or loan balances that total $5,000 or more during the last five days of the previous calendar month||Unlimited, No Charge|
|ACH Funds Transfer Fee (restrictions apply)|
|Recurring ACH Transfer Set-up (incoming)||No Charge|
|Recurring ACH Transfer Set-up (outgoing)||$ 5.00|
|Recurring ACH Cancellation Free (within 90 days of set-up)||$ 5.00|
|ACH Online Self Service Set-up||No Charge|
|Each Online Standard ACH Transfer (incoming)||No Charge|
|Each Online Standard ACH Transfer (outgoing)||No Charge|
|Each Online Express ACH Transfer (incoming)||$ 5.00|
|Each Online Express ACH Transfer (outgoing)||$ 5.00|