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2306 North Main • Hutchinson, Kansas 67502 • 620-662-8050 • HOURS: 9:00 to 5:00 Monday - Friday
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ACCOUNT DISCLOSURES

Rate and Fee Schedule
Share and Checking Accounts

The rates, fees, and terms applicable to your account at the credit union are provided in this Rate and Fee Schedule. The credit union may offer other rates for these accounts from time to time.

 

Regular Share Account

Christmas Club Account

IRA Share Account

Checking Account

Dividends:

 

 

 

 

Dividend Rate/Annual Percentage Yield

.50 APR

.50 APY

.50 APR

.50 APY

1.50 APR

1.51 APY

N/A

Dividends Compounded

Quarterly

Annually

Quarterly

N/A

Dividends Credited

Quarterly

Annually

Quarterly

N/A

Dividend Period

Calendar Quarter

Annual (Nov 1--Oct 31)

Calendar Quarter

N/A

BALANCE REQUIREMENTS

 

 

 

 

Minimum opening deposit

$5.00

$5.00

$5.00

$300.00

Minimum Balance to avoid service fee

N/A

N/A

N/A

$300.00

Minimum Balance to Earn the Stated APY

$5.00

$5.00

$5.00

 

Balance Method

Average Daily Balance

Average Daily Balance

Average Daily Balance

 

Account Limitations
See Section 6 below

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Account withdrawal limitations apply

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TRUTH-IN-SAVINGS-ACCOUNT DISCLOSURES
Except as specifically described, the following disclosures apply to all of the accounts.

  1. Rate Information.  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.  For Regular Share and IRA Share accounts, the Dividend Rate and Annual Percentage Yield may change quarterly as determined by the credit union’s board of directors.  Checking accounts do not earn dividends.  For Christmas Club accounts, the dividend rate and the annual percentage Yield may change annually as determined by the credit union’s board of directors.

  2. Nature of Dividends.  Dividends are paid from current income and available earnings after required transfers to reserves at he end of the dividend period.

  3. Dividend Compounding and Crediting.  The compounding and crediting of dividends and dividend period applicable to each account are set forth in the Rate Schedule.  The Dividend Period is the period of time at the end of which and account earns dividend credit.  The Dividend Rates and Annual Percentage Yields are the rates and yields as of the last dividend declaration which is set forth in the Rate Schedule.

  4. Accrual of Dividends.  For all accounts, dividends will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account.  For all accounts, if you close your account before accrued dividends are credited, accrued dividends will not be paid.

  5. Balance Information.  The minimum balance requirements applicable to each account are set forth in the Rate Schedule.  For checking accounts, there is a minimum balance required to avoid a service fee for the dividend period.  If the minimum balance is not met, there will be a service fee as set forth on the “Fee Schedule”.  For all accounts, there is a minimum balance required to obtain the Annual Percentage Yield for the dividend period.  If the minimum balance is not met, you will not earn the stated Annual percentage Yield.  For all accounts dividends are calculated by applying a periodic rate to the average daily balance in the account for the period.  The average daily balance is 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.

  6. Account Limitations.  For a Christmas Club account, the entire balance will be paid to you by check or transferred to another account of yours on or after November 1 and the account will remain open.  If you withdraw any of the account balance at any time, we may impose a fee of all accrued, uncredited dividends on the account and your account will be closed.  You may make transfers or withdrawals in the first seven days after the account is opened without restriction.  For Regular Share, IRA Share, and Checking Accounts, no account limitations apply.


FEE SCHEDULE
Checking Account Fees
NSF Fee:  $25.00 per item
Returned Item Fee  $25.00 per item
Stop payment Fee $15.00 per request
Check printing Fee Varies depending on style
Checking Account Service Fee: $5.00 per month, if the minimum balance is not maintained.
 
Credit Union Membership
Membership Share: $5.00 par value

Your savings federally insured to $250,000 by NCUA
National Credit Union Administration, a U.S. Government Agency


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