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Truth-In-Savings
Rate Schedule |
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The rates
contained in this schedule are accurate as of 03-10-10.
For current information call the Credit Union at
(325)653-1465. This Rate Schedule sets forth certain
conditions, rates, fees and charges applicable to your
accounts at 1st Community Federal Credit Union. |
|
Deposit
Product |
Dividend/
Interest Rate
"APR" |
Annual
Percentage Yield "APY" |
Minimum
Opening Balance |
Dividends/Interest Compounded |
Dividends/Interest Credited |
Transaction Limitations |
|
1st Rate Checking
(meeting requirements) |
3.94% |
4.01% |
-0- pays on $0 -
$25,000 |
Monthly |
Monthly |
Requirements - Min. 15 debit
card transactions; receives e-statements; and view account
online once a month |
|
0.10% |
0.10% |
pays on portion of balance
over $25,000 |
|
1st Rate Checking
(does not meet
requirements) |
0.10% |
0.10% |
-0- (pays on entire balance |
Monthly |
Monthly |
When account does not met
requirements above |
|
Savings (Share) |
.10% |
.10% |
$25 * |
Quarterly |
Quarterly
|
|
|
Club Accounts***** |
.10% |
.10% |
-0- |
Quarterly |
Quarterly
|
|
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Christmas Club Account |
.10%
|
.10%
|
-0-
|
Monthly
|
Monthly
|
If funds are withdrawn prior to November acct will be closed |
|
Money Market |
.50% |
.50% |
$2500 ** |
Monthly |
Monthly
|
*** |
|
Mega Money Market |
.75% |
.75% |
$25,000 ** |
Monthly |
Monthly
|
*** |
|
Regular,Thrifty, Priority, Sr Citizen, Teen & Young Leaders Checking |
non-dividend bearing account |
-0- |
n/a |
n/a |
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* You must maintain the disclosed minimum
balance in your Account to maintain your membership and
utilize other 1CFCU services.
** You must maintain the
disclosed minimum balance in your Account each day to avoid a
monthly service fee being charged the next month.
*** A fee will be assessed
for each withdrawal in excess of six (6) per month of which
only 3 may be made by check.
***** Except Christmas
Club. |
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Term
Share Certificates
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Dividends will be compounded and
credited monthly on the last day of the month. There
will be a forfeiture of 90 days dividends, whether earned or
not, upon early redemption. Term Share Certificates
renew automatically unless we are instructed otherwise.
There is a 7-day grace period to close the new certificate or
make changes without penalty. No withdrawals may be made
from a Term Share Certificate without closing the Certificate.
**** You may not make deposits
in to the Account, other than dividends earned, until the
maturity date states on the certificate. |
|
Deposit
Product |
Dividend/
Interest Rate
"APR" |
Annual
Percentage Yield "APY" |
Minimum
Opening Balance |
Dividends/Interest Compounded |
Dividends/Interest Credited |
Transaction Limitations |
|
6 month comp. |
.74% |
.74% |
$1000 |
Monthly |
Monthly |
**** |
|
1 year comp. |
1.09% |
1.10% |
$1000 |
Monthly |
Monthly |
**** |
|
2 year comp. |
1.44% |
1.45% |
$1000 |
Monthly |
Monthly |
**** |
|
3 year comp. |
2.96% |
3.00% |
$1000 |
Monthly |
Monthly |
**** |
|
6 month |
.74% |
.74% |
$1000 |
n/a |
n/a |
**** |
|
1 year |
1.09% |
1.09% |
$1000 |
n/a |
n/a |
**** |
|
2 year |
1.44% |
1.44% |
$1000 |
n/a |
n/a |
**** |
|
3 year |
2.96% |
2.96% |
$1000 |
n/a |
n/a |
**** |
|
(negotiated rates available
for Jumbo Term Share Certificates
for all terms listed above -
minimum $100,000 opening balance) |
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Individual Retirement Account (IRA)
Share Accounts - Traditional/Conduit |
|
__ IRA Share Account |
1.10% |
1.10% |
$25 |
Quarterly |
Quarterly |
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Individual Retirement Account (IRA) Term Share Certificates
- Traditional / Conduit / SEP (available for 1 year only) /
Roth
|
|
Deposit
Product |
Dividend/
Interest Rate
"APR" |
Annual
Percentage Yield "APY" |
Minimum
Opening Balance |
Dividends/Interest Compounded |
Dividends/Interest Credited |
Transaction Limitations |
|
1 year |
1.09% |
1.10% |
$25 |
Monthly |
Monthly |
|
|
18 month |
1.14% |
1.15% |
$25 |
Monthly |
Monthly |
|
|
2 year |
1.44% |
1.45% |
$25 |
Monthly |
Monthly |
|
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5 yr Roth Conversion |
2.08% |
2.10% |
$25 |
Monthly |
Monthly |
|
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5 yr Roth Contributory |
2.08% |
2.10% |
$25 |
Monthly |
Monthly |
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Dividends will be compounded and credited monthly on the last
day of the month.
There will be a forfeiture
of 90 days dividends upon early withdrawal; this penalty is
waived at age 59 1/2.
IRA Term Share
Certificates renew automatically. There is a 7-day grace
period to close the new certificate or make changes without
penalty. |
Rate Information - The dividend rate
(APR) and APY on your Savings (Share), Club, 1st Rate Checking, Money Market and Mega
Money Market accounts may change at any time as determined by the
Credit Union Board of Directors. The dividend rate and APY disclosed
reflect the prospective rate and APY which the Credit Union
anticipates will be paid for the current dividend period. The
dividend rate and APY on Term Share Certificates and IRA Term Share
Certificates are fixed and will be paid until the maturity date on
the Certificate. The dividend declaration date follows the ending
date of a dividend period for Savings (Share), Club, Money Market
and Mega Money Market accounts. The disclosed dividend rate and APY
for Term Share Certificates and IRA Term Share Certificates are
those that were offered within the most recent seven calendar days.
Balance Computation Method
-Dividends, for all dividend bearing accounts, are calculated by the
daily balance method, which applies a daily periodic rate to the
end-of-day principal in your account each day.
Accrual of Dividends - Dividends, for all dividend bearing accounts, will begin to accrue
on the business day you deposit cash and non-cash items (such as
checks) to your account.
Compounding and Crediting
- Dividends will be compounded and credited as shown above. The
monthly dividend period for 1st Rate Checking, Term Share Certificates, IRA Term
Share Certificates, Money Market and Mega Money Market, and
Christmas Club Accounts begins on the first calendar day of the
month and ends on the last calendar day of the month. The quarterly dividend period for
Savings (Share), Club accounts, and IRA Share accounts begins on the
first calendar day and ends on the last calendar day of the quarter
(for example, the beginning date of the first dividend period of the
calendar year is January 1st, and the ending date of such dividend
period is March 31st. All other quarterly dividend periods follow
this same pattern of dates.)
Effect of Closing - If
you close your Savings (Share), Club, 1st Rate Checking, Money Market or Mega Market
account before dividends are paid, you will not receive the accrued
dividends.
SEE 1ST COMMUNITY
FEES CHART FOR ANY ADDITIONAL FEES THAT MAY APPLY TO THE ABOVE
ACCOUNTS.
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