FIXED RATE ACCOUNTS. If your Visa account has a fixed rate, Xxxxxxx Credit Union will set the ANNUAL PERCENTAGE RATE based on your creditworthiness. Your fixed ANNUAL PERCENTAGE RATE is between 9.90% (Daily periodic rate 0.02712%) and 18.00% (Daily periodic rate 0.04932%). (See your notification of cardholder approval for your rate.)
FIXED RATE ACCOUNTS. All accounts not listed above have a fixed dividend rate and APY. The specific dividend rate and APY that apply will be set forth on the Certificate Accounts Rate Schedule in effect at the time you open the account and will be in effect for the term of the account. Nature of Dividends Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period. Dividends Compounding and Crediting The compounding and crediting of dividends applicable to each account is set forth in the Certificate Accounts Rate Schedule. The dividend period begins on the first calendar day of the dividend period and ends on the last calendar day of the dividend period. For the Share, Jumbo and Member’s Advantage certificate accounts, dividends may be transferred monthly to another account. For all IRA Share Certificate accounts, members who are age 59 ½ or older or are totally disabled have the option to transfer dividends monthly to another account. Balance Information The minimum balance requirements applicable to each account are set forth on the Rate and Fee Addendum. For all accounts, dividends are calculated by the Daily Balance method which applies a daily periodic rate to the principal in the account each day. For checking accounts, the minimum opening balance must be established at account opening unless established automatic transfers or direct deposits are being made. Transaction Limitations After your account is opened, your ability to make additional deposits to your account or withdrawal of dividends and any limitations on such transactions are set forth on the Certificate Accounts Rate Schedule. For all certificate accounts, withdrawals below the minimum balance will result in closure of the certificate, and a penalty may apply to the entire balance as described in these disclosures. Additional deposits to the IRA Accumulation Variable Rate Certificate account may be made in any increment. Prior to establishing a Member’s Advantage Share Certificate, two qualifying services must be in use by the member. During the term, this certificate allows:
