Share Accounts

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 prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period. Except as otherwise noted, the Dividend Rate and Annual Percentage Yield for the account(s) are variable and may change at any time at the discretion of the Credit Union. The Annual Percentage Yield is based on an assumption that dividends will remain in the account until maturity.

Compounding & Crediting

Dividends will be compounded and credited monthly to your account. The dividend period begins on the first calendar day of each calendar month and ends on the last calendar day of each calendar month. The dividend period is monthly.

Balance Computation Method

Dividends are calculated by the average daily balance method in which dividends are computed by applying a periodic rate to the average balance in the account for each day of the period and dividing that sum by the number of days in the period.

Accrual of Dividends

Dividends will begin to accrue on cash and non-cash deposits (e.g. checks) on the business day you deposit such items to your account.

Balance Information

The minimum balance required to open each account is disclosed on the savings rate sheet under the Minimum Opening Deposit column.

Fees & Charges

See Service Charge schedule for a list of fees and charges that may be assessed against your account.

Transaction Limitations

(Savings, Supplemental Savings, Investment Saving/Money Management Account, Holiday and Vacation Club only) During any statement period, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a pre-authorized or automatic transfer or telephone order or instruction. No more than three of the six transfers may be made by check, draft, debit card, if applicable, or similar order to a third party. If you exceed these transfer limitations during the calendar month you account may be subject to closure by the credit union or to a fee.

Nature of Dividends

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

Bylaw Requirements

See Membership & Account Agreement.

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Share Certificates

Rate Information

The Dividend Rate and Annual Percentage Yield on your account(s) are set forth herein. 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 Rate and Annual Percentage Yield for all Certificates are fixed and will be in effect for the term of the account, except for the 24-month Prime Rate Certificate. The Annual Percentage Yield is based on an assumption that dividends will remain in the account until maturity. A withdrawal will reduce earnings.

For the Bump Up Certificate, you may elect to change the rate of the certificate once during the original term of the certificate. To change the rate on the Bump Up, an owner of the certificate must contact the Credit Union to request the increase. The rate on the Bump-Up will be changed on the date the Credit Union receives the request. The rate will be changed to the rate currently in effect for a fixed rate certificate of the same term as the Bump Up certificate and will remain in effect until maturity. The 12-month bump up would change to the 12-month rate, 24-month bump up would change to the 24-month rate and the 48-month bump up would change to the 48-month rate.

For the 24-month Prime Rate Certificate the dividend rate is variable and may change after the certificate is opened. The rate may change monthly. The variable rate is subject to change on the first of each month and is computed by deducting 2.50% from the highest prime rate published in the Wall Street Journal as of the last business day of the previous month and will never be less than 3.00% (floor rate). The certificate owner will not be provided advance notice that the rate will be changing. The dividend rate and annual percentage yield quoted on the certificate application is in effect through the last calendar day of the current month only. The dividend rate in effect will be reflected on the periodic statement.

Compounding & Crediting

All dividends are paid monthly except where noted. You may choose to have the dividends paid monthly to your certificate, to another account, or for certificates with balances in excess of $2,500 a dividend check may be mailed to you. You may elect to change the method of dividend disposition by contacting the Credit Union. For the 2 Year Add On Certificate the dividends must be paid to the certificate. Dividends will be compounded and credited monthly. 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 example, the beginning date of the first dividend period of the calendar year is January 1 and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. If you close your Certificate account(s) before accrued dividends are credited, accrued dividends will not be paid.

Balance Computation Method

Dividends are calculated by the average daily balance method in which dividends are computed by applying a periodic rate to the average balance in the account for each day of the period and dividing that sum by the number of days in the period.

Balance Information

The minimum balance required to open each account is disclosed under the Minimum Opening Deposit column.

Accrual of Dividends

Dividends will begin to accrue on both cash and non-cash deposits (e.g. checks) on the business day you deposit such items to your account.

Fees & Charges

See Service Charge schedule for a list of fees and charges that may be assessed against your account.

Transaction Limitations

After the Certificate Account is opened, you may not make deposits into the account until the maturity date or during the 7-day grace period following the date of maturity except for the Add On Certificate. Deposits of $25.00 or more may be made at any time to the 2 Year Add On Certificate by payroll allocation, automatic transfer, by teller, by mail or by Telebranch. Dividends will accrue on these deposits from the day of deposit. Share Certificates are not transferable. Withdrawals from IRA accounts may be subject to taxation as provided for by law as well as an IRS penalty. See your IRA Trust Agreement and/or consult your tax or legal advisor.

Maturity Date

Your account will mature at the end of the term.

Early Withdrawal Penalties

A substantial penalty will be imposed for withdrawals prior to the maturity date that may result in invasion of principal. The forfeiture is calculated on the simple interest rate regardless of how long the funds have remained in the account. The penalty for certificates purchased or renewed with a term of one year or less will be equal to a forfeiture of an amount equal to 90 days’ dividends, whether earned or not. The penalty for certificates purchased or renewed with a term of more than one year will be equal to a forfeiture of an amount equal to 180 days’ dividends, whether earned or not.

The appropriate penalty is determined by the term and the date of purchase or renewal, whichever is later. Dividends may be withdrawn at any time without penalty. Early withdrawal penalty applies to full payouts as well as partial withdrawals. For partial withdrawals, if the remaining balance of the certificate, after the partial withdrawal is completed, is less than the required minimum balance then no dividends will be paid to the certificate until such time that the certificate balance is again at or above the minimum balance requirement for that particular certificate. There will be no penalties for early withdrawal of the 9 Month No Penalty certificate. No partial withdrawals are permitted from the Add On Certificate and the early withdrawal penalty for early redemption will be calculated on the current balance of the Add On Certificate. The penalty calculation for early withdrawals from Prime Rate certificates will be calculated at the rate currently in effect at the time of the withdrawal.

Renewal Policies

The Credit Union will notify you at least 20 days prior to maturity. Your Certificate account(s) will automatically renew at maturity except for the 9 Month No Penalty Certificate. For the No Penalty Certificate, the certificate balance will be transferred to your regular savings account on the maturity date and notification of the transfer will be mailed. For the Bump Up Certificate, on the maturity date the certificate balance will be renewed as a standard certificate for the same term. The renewed certificate will not have the Bump Up option. For the 7 Month Certificate, on the maturity date the certificate will be renewed as the standard 6 month term certificate. For the 11 Month Certificate, on the maturity date the certificate will be renewed as the standard 12 month term certificate. For the 15 Month Certificate, on the maturity date the certificate will be renewed as the standard 18 month term certificate. For the 19 Month Certificate, on the maturity date the certificate will be renewed as the standard 18 month term certificate. For the 29 Month Certificate, on the maturity date the certificate will be renewed as the standard 30 month term certificate. For all certificate products except the No Penalty Certificate, Bump Up Certificates and special terms (7 month, 11 month, 15 month, 19 month and 29 month terms) the certificate will automatically renew for the same term. Except for the No Penalty Certificate which transfers on the maturity date, you will have a grace period of 7 calendar days after the maturity date to withdraw the funds in all certificate accounts without being charged an early withdrawal penalty. Dividends credited to your account and not withdrawn prior to renewal are added to principal and may not be withdrawn without incurring an early withdrawal penalty.

Nature of Dividends

Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period. The Dividend Rates and Annual Percentage Yields are rates and yields that the Credit Union has offered within the most recent seven (7) calendar days. They are accurate as of the date specified above. You may call for current rates and yields.

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2008 Service Charges

Account Reconciliation $20.00 per half-hour ACH NSF Fee $30.00 per item ATM Fees for transactions exceeding 3 per month on non-Members 1st ATM machines (does not apply to point-of-sale transactions) $1.00 per transaction New or replacement card (cards not used within 6 months will be canceled) $5.00 per card Deposit returned unpaid via ATM $20.00 per occurrence ATM Deposit adjustment fee (due to incorrect cardholder entry at ATM) $2.50 per adjustment American Express Two Party Traveler's Cheques $1.00 per $100.00 Gift Cheques $3.00 per check Traveler's Cheques Free Bill Payer Standard rate (8 bills or less) $3.95 per month Additional bill (over 8) $.35 per additional bill per month Certified Checks $5.00 per check Check Cashing Fee (fee applies to members age 22 and older who have only a regular savings account and a balance of less than $200 in that account) $2.00 per check cashed Check Copies $2.00 per copy Dormant/Inactive Account Charge (per quarter if no activity for previous 24 months) $15.00 per quarter Drive-Thru transaction fee in excess of 3 transactions/visit $1.00 per transaction Escheat Processing (when surrendered to PA Unclaimed Property after 5 years of inactivity) $25.00 per account Financial Inquiries (Other than EZ Call or Members 1st Online) for a period within the last 5 business days. $1.00 per inquiry Financial Inquiries (Other than EZ Call or Members 1st Online) for periods prior to the last 5 business days. $2.00 per inquiry Holiday Club withdrawal prior to October 1 $5.00 per occurrence Lien/Title Encumbrance Cost by state Members 1st Online Checks (Cashier Checks) Payable to Third Party $1.00 per check Copy of Members 1st Check payable to third party $3.00 per check Money Orders $2.00 per order Non-Sufficient Fund Checks $30.00 per check presentment Research Letter (immigration, guaranteed funds, letters of credit, etc) $25.00 per letter Returned Checks (NSF/uncollected funds/ postdated/stale dated) $30.00 per check presentment Returned Deposit Item $5.00 per check presentment Safe Deposit Boxes Annual Fee NCUA does not Insure Safe Deposit Contents (Fee by box size; all sizes not available at all branches) 2 x 5   $20.00 3 x 10   $40.00 3 x 5   $25.00 5 x 10   $50.00 5 x 5   $35.00 10 x 10   $90.00 Late Fee (30 days or more delinquent) $10.00 Replacement Key $10.00 Drilling of safe deposit box $125.00 Statement of Account $2.00 per statement Stop Payments Per check $20.00 Series of checks (2 or more) $30.00 ACH Pre-Authorized Debit $20.00 per item Vacation Club withdrawal prior to April 1 $5.00 per occurrence VISA* VISA Debit Card Free VISA Classic Credit Card Free VISA Rate-Shaver Card Free VISA Gold Credit Card Free VISA Platinum Free Student VISA Card Free Visa Gift Card $3.95 Copy of Credit/Check Card Sales Draft $3.00 each VISA Credit Card Late Charge (on any payment made 5 days or more past the payment due date) $30.00 per occurrence Overlimit Fee (If balance exceeds credit limit at any time during statement period.) $15 per cycle VISA Check Card Replacement (due to lost card) $3.00 per card Voucher/Receipt Transaction Copy Charge $3.00 per voucher Western Union Domestic Wire Transactions ($10,000 is the maximum allowed for a single wire transaction) $50.00 or less ........................................ $15.50 per wire $50.01 to $200.00 .................................. $17.50 per wire $201.00 to $500.00 ................................ $27.50 per wire $501.01 to $1,000.00 .............................. $31.50 per wire $1,000.01 to $2,500.00 ........................... $40.50 per wire $2,500.01 to $5,000.00 ........................... $45.50 per wire $5,000.01 to $7,500.00 ........................... $48.50 per wire $7,500.01 to $10,000.00 .......................... $52.50 per wire International Wire Transactions ($5,000 is the maximum allowed for a single wire transaction) $0.00 to $500.00 .................................... $15.50 per wire $500.01 to $1,000.00 .............................. $20.00 per wire $1,000.00 to $2,000.00 ............................ $25.00 per wire $2,000.01 to $5,000.00 ............................ $30.00 per wire Wire Transfers Domestic $20.00 Foreign $40.00 Writs / Garnishments / Domestic Relations Order $25.00 per order * Beginning April 25th, there will be a change in terms with all Visa cards. Visa will begin to charge the International Service Assessment (ISA) on international transactions, whether there is a currency conversion or not. In cases where there is not a currency conversion, the ISA will be 0.8% of the transaction. With international transactions where there is a currency conversion, the ISA will continue to be 1.0%.