Freestone Credit Union

Share & CD Rates

Regular CD…$1,000.00 to $24,999.99

All Certificates are subject to penalty for early withdrawal.  Rates are effective as of

November 10, 2011

Page Updated 11-09-2011

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 all accounts, the Dividend Rate and Annual Percentage Yield may change monthly 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 the 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 an account earns dividend credit.  The Dividend Rates and Annual Percentage Yields are the rates and yields as of the last dividend declaration date 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 Share and Share Drafts accounts, there is a minimum average daily balance required to obtain the annual Percentage Yield for the dividend period.  If the minimum average daily balance is not met, you will not earn the stated Annual Percentage Yield.  For all accounts using an Average Daily Balance method, 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 Share, Kirby Kangaroo, and CU Succeed Accounts, during any month, 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 preauthorized or automatic transfer, telephonic order or instruction, or computer transfer.  No more that 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 the transfer limitations set forth above, your account will be subject to closure by the credit union 

· For Money Market Accounts, no more than three withdrawals are allowed each month.  You may not make any withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized or automatic transfer, telephonic order or instruction, or similar order to a third party. 

· For a Christmas Club account, the entire balance will be paid to you by check on or after November 1 (unless otherwise requested) and the account will remain open.. 

· For Share Draft accounts, no account limitations apply. 

· For IRA accounts, limitations governed by the IRS.