Common use of Your Share Savings Accounts Clause in Contracts

Your Share Savings Accounts. As long as you have available funds in your account, and subject to any applicable state or federal laws and regulations the transaction limitations in this Agreement, including the Truth in Savings Disclosure and the Credit Union’s Bylaws, money can be withdrawn from your account by any method approved by the Credit Union. Rate and Annual Percentage Yield ("APY"). Your Share Savings Accounts will earn what are known as dividends. Dividends are like interest, except that the rate of dividends is set by the Credit Union's Board of Directors (the "Board") from time to time, and dividends are not guaranteed. The Credit Union estimates a prospective dividend rate and corresponding annual percentage yield (APY) on your Share Savings Accounts for each dividend period. The dividend rate and APY may change every calendar quarter as determined by the Credit Union. This is a variable rate account. The Credit Union’s current dividend rates will be available each business day at our office. The words "dividend" (or “dividends”) and "interest" may be used interchangeably in this Agreement. Refer to our current Rate Schedule for our current dividend rates. Daily balance computation method: Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.