Five Star Credit Union

Truth in Savings

TRUTH-IN-SAVINGS DISCLOSURE
The rates, fees and terms applicable to your account at Five Star Credit Union are provided in this Truth-In-Savings Disclosure. The Credit Union may offer other rates for these accounts from time to time.

Effective December 1, 2013

ACCOUNT TYPE
APY*
MINIMUM BALANCE
MINIMUM BALANCE TO AVOID A SERVICE FEE
MINIMUM BALANCE TO EARN THE STATED APY
ACCOUNT LIMITATIONS
Membership Share Account
0.10% $5.00 $50.00 (9)
$5.00 Account Transfer Limitations Apply
Sub-share Account 0.10% $1.00 N/A $1.00 Account Transfer Limitations Apply
Rising Star
Youth Savings
0.85% $5.00 N/A $5.00 Account Transfer Limitations Apply
Share Draft Checking Account
0.25% (7)
$25.00
only at account opening
N/A $0 N/A
Christmas and Vacation Club Account
0.30% $1.00 N/A $1.00 Account Transfer Limitations Apply
IRA Share Account
0.50% $1.00 N/A $1.00 Account Transfer Limitations Apply
Money Market Checking Account

0.20%

0.40%

0.50%

$1,500.00

$1,500.00

$1,500.00 - $49,999.99

$50,000.00 - $99,999.99

$100,000.00 and up

Account Transfer Limitations Apply

*APY is Annual Percentage Yield.

ACCOUNT DISCLOSURES

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. The Dividend Rates and Annual Percentage Yields are the rates and yields as of the last dividend declaration date which is set forth above. These rates are subject to change as determined by the Credit Union’s Board of Directors. The Money Market account is a tiered rate account.

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

3. Dividend Compounding and Crediting – The dividend period is the period of time at the end of which an account earns dividend credit. The dividend period begins on the first calendar day of the period and ends on the last calendar day of the period. Dividends on all accounts are compounded and paid monthly.

4. Accrual of Dividends – Dividends will begin to accrue on the business day you deposit cash and noncash items (for example, checks) to your account. If you close your account before accrued dividends are credited, accrued dividends will not be paid.

5. Balance Information – Dividends are calculated by the Average Daily Balance method for the entire dividend period.

6. Account Limitations – For membership share accounts, sub-share, money market, and club accounts, no more than six (6) preauthorized, automatic, or telephone transfers may be made from these accounts to another account of yours or to a third party in any month, and no more than three (3) of these six (6) transfers may be made by check, draft, or debit card to a third party. If you exceed these limitations, your account may be subject to a fee or be closed. No transaction limitations apply to share draft checking accounts. Withdrawals from Vacation Club accounts are restricted to one (1) per quarter. There is a fee for early withdrawals from Christmas Club accounts.

7. Share Draft Checking Accounts – This account type must be active (10 or more transactions per month) in order to qualify for dividends and other benefits. “Transactions” include deposits, withdrawals by debit card, paid checks, etc., and transfers. Increased yield may be earned based on account activity.  Advanced Member Business checking accounts pay on a tiered rate based on average daily balance starting at 0.00% APY.

8. Fees for Overdrawing Accounts – Fees may be imposed in compliance with Regulation E on each check, draft, item, ATM card withdrawal, debit card point of purchase, preauthorized automatic debit, telephone initiated withdrawal or any other electronic withdrawal or transfer transaction that is drawn on an insufficient available account balance. The entire balance in your account may not be available for withdrawal, transfer or paying a check, draft or item. You may consult the Funds Availability Policy for information regarding the availability of funds in your account. Fees for overdrawing your account may be imposed for each overdraft, regardless of whether we pay or return the draft, item or transaction. If we have approved an overdraft protection limit for your account, such fees may reduce your approved limit. Please refer to the Fee Schedule for current fee information.

9. Dormant Accounts – Share accounts with balances less than $50.00 with no activity for six (6) months will be transferred to dormant status and subject to a monthly service fee as disclosed in the Credit Union’s Schedule of Fees and Charges. Rising Star (Youth) accounts are excluded from this $50 requirement.

10. Par Value of a Share – The par value of a share is $5.00.

11. Membership Share Account – Increased yield may be earned based on account activity.

12. By-Law Requirements – You must complete payment of one share in your membership share account as a condition of admission to membership. If the balance in your membership share account falls below $5.00, you may be terminated from membership immediately.

13. Transaction Limitations – We reserve the right, at any time, to require not less than seven (7) days notice in writing.

14. National Credit Union Administration - Member accounts in the Credit Union are federally insured by the National Credit Union Administration (NCUA) share insurance fund for up to at least $250,000.00. Individual Retirement Accounts are insured separately up to $250,000.00.

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