|
|
| Personal Account Fee Schedule |
 |
Effective Date: Oct. 1, 2009 | Print Version
|
|
|
|
| Savings Account Fees |
| Membership |
$5 |
| Low Balance |
See Rate Schedule |
| Excess No. of Withdrawals |
See
Rate Schedule |
| Check Cashing |
1% |
| (Savings balance
is less than $50 & no other accounts. Does not
apply to individuals under 22.) |
|
|
|
|
|
|
|
|
|
|
|
| Checking Account
Fees |
| Non-Sufficient Funds (NSF) Overdraft or Return |
$28/item |
| Deposited Item Return |
$5 |
| Overdraft Protection Transfer |
$3 |
|
| Stop Payment |
$27/series |
| Monthly Fee |
See Rate Schedule |
| Excess No. Withdrawals |
See Rate Schedule |
|
|
|
|
|
|
|
|
|
|
| Other Service Fees |
| Wire Transfer |
|
| Outgoing |
$18 |
| Out of country |
$40 |
| Money Order |
$3/ea |
| Cashiers Check |
$4/ea |
| Credit Union Check |
$4/ea |
| Return Mail Processing |
$5 |
| Collection Item - Domestic |
$20 |
| Collection Item - International |
$40 |
| Escheatment (unclaimed property) |
$25 |
| Copies (Drafts, Statements, etc) |
$2.50/ea |
|
| Exchange Foreign Currency |
$5/ea |
| Research & Reconciliation |
$25/hr |
| Debit Card |
|
New standard card | Free |
New custom image, card # & PIN | $12/ea |
Reissue with same image, card # & PIN |
$5/ea |
| Non-Columbia ATM |
$1 per w/d |
| 3rd Party Payoff Request |
$25 |
| Skip Loan Payment |
$25 |
| Levy/Garnishment Processing |
$30 |
|
|
|
|
|
|
Truth-In-Savings Disclosures
-
Rate Information: The Dividend Rates and Annual Percentage Yields on your accounts are provided on the Rate
Schedule. 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. Regular and IRA Certificates: the Dividend
Rate and Annual Percentage Yield are fixed and will be in effect for the term of the Account unless, as available, the Bump Rate
feature is used. Bump Rate feature: on 14-month regular and IRA certificates opened between 10/1/09 - 10/16/09, you can request
once during the certificate's original term to increase the yield to the then-current, non-promotional, 18-month certificate yield for the remainder of the 14-month certificate term.
Relationship feature: 20-mo regular and IRA and 40-mo regular and IRA certificates require an active checking within the household. Active checking is defined as having at least 10 withdrawals and 2 deposits during the review period April 1, 2010 - May 31, 2010. Household is defined as the address of record listed for the certificate. If an active checking cannot be verified, as of June 1, 2010 and for the remainder of the term, a 20-mo regular and IRA certificate will revert to 1.00%APY and a 40-mo regular and IRA certificate will revert to 2.02%APY.
-
Nature of Dividends: Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period. The Dividend Rate and Annual Percentage Yield are accurate as of the Effective Date which the Credit Union anticipates paying for the applicable dividend period.
-
Compounding and Crediting: Dividends will be compounded and credited as set forth on the Rate Schedule. For regular Certificates, the Dividend Period begins on the first calendar day of the month and ends on the last calendar day of each month. For savings, checking and MMA, dividends are compounded and credited at the end of each month.
-
Balance Information: The minimum balances required to open and earn dividends on accounts are on the Rate Schedule. Dividends are calculated by the average daily balance method determined by adding the full amount of principal in the account for each day of the period and dividing that figure by the number of days in the period.
-
Accrual of Dividends: Dividends begin to accrue on cash and non-cash (checks and electronic) deposits on the business day you make the deposit to your account. If you close your account prior to the dividend period, accrued dividends will be paid upon request other than accrued uncredited dividends under the Bonus Dividend Plan.
-
Account Limitations: The account limitations for each account are listed on the Rate Schedule provided at account opening and detailed in the Membership & Account Agreement.
-
Transaction Limitations: You may withdraw accrued, uncredited dividends at any time
other than as specified above in Accrual of Dividends. Achiever's Club: Permits additional
deposits of $50 or more at any time. Savings & MMA: No more than six (6) pre-authorized, automatic,
phone or computer transfers may be made from this account to another account of yours or to a third party in
any month. If you exceed these limitations, the transaction may be returned, unpaid, and your accounts may
be subject to a fee or closure.
-
Maturity: Your account will mature within the term set on the Rate Schedule provided at
account opening or maturity date on your Certificate Receipt or Maturity Notice.
-
Early Withdrawal Penalty: We may impose a penalty if you withdraw any of the principal before the maturity date.
a. Amount of Penalty: The amount of the early withdrawal penalty is based on the term of your account. The penalty schedule is as follows: 365 days or less - 90 days dividends; more than 365 days - 180 days dividends.
b. How the Penalty Works: The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned on the account. It applies whether or not the dividends have been earned. In other words, if the account has not yet earned enough dividends or if dividends have already been paid, the penalty will be deducted from the principle.
c. Exceptions to Early Withdrawal Penalties: At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following situations:
i. When an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction.
ii. When the account is an Individual Retirement Account (IRA) and any portion is paid within seven (7) days after establishment; or where the account is an IRA and the owner attains age 59 1/2 or becomes disabled.
-
Renewal Policy: Accounts are automatically renewable accounts. Upon maturity, accounts automatically renew for
the same term unless otherwise noted. 17-mo regular and IRA certificates (available 7/10/08 -11/5/08 and 10/14/08-10/31/08) renew to 18-mo terms.
14-mo regular and IRA certificates (available 10/1/09 – 10/16/09) renew to 18-mo terms.
9-mo regular and IRA certificates (11/13/08 -2/18/09) renew to 6-mo
terms. 20-mo regular and IRA certificates (available 3/1/10 – 3/31/10) renew to 18-mo terms. 40-mo regular and IRA certificates (available 3/1/10 – 3/31/10) renew to 36-mo terms. There is a grace period of ten (10) days after maturity in which to withdraw funds without incurring an early withdrawal penalty.
-
Nontransferable/Nonnegotiable: Your account is nontransferable and nonnegotiable. The funds in your accounts (except IRA Certificates) may not be pledged to secure any obligation of an owner, except obligations with Columbia Credit Union.
Except as specifically described, the Truth-In-Savings Disclosures apply to all accounts. If you have questions or require current rate information on your accounts, please contact the Credit Union.
|
|
|
