Northumberland County Schools Federal Credit Union offers a variety of savings accounts to help meet your needs.
Rates are current as of 1/9/2012 and are subject to change without notice.
Dividend Declaration Period: 4th Quarter 2011
Regular Share Account
Your credit union savings are called "shares" since members are owners of the credit union, and not merely depositors. Regular Share Accounts require a minimum opening deposit of $5.00. Every member is required to have and to maintain a minimum $5.00 balance in a Regular Share Account. The dividend rate and annual percentage yield are subject to change every dividend period as determined by the credit union board of directors.
Truth-In-Savings Disclosure Information
| Annual Percentage Yield as of Last Dividend Declaration Date |
0.35% APY |
| Dividends Compounded |
Quarterly |
| Dividends Credited |
Quarterly |
| Dividend Period |
Calendar Quarter |
| Minimum Opening Deposit |
$5.00 |
| Minimum Balance to Avoid Service Charge |
None |
| Minimum Average Daily Balance to earn the Stated APY |
$5.00 |
| Balance Method |
Average Daily Balance |
Super Saver Account
For accounts with higher balances, consider a "Super Saver" Account. For Super Saver Accounts, the minimum opening deposit balance is $2,500. Dividends are declared by the credit union Board of Directors on a quarterly basis and paid on a quarterly basis. Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance method which applies a periodic rate to the average daily balance in the account for the period.
Truth-In-Savings Disclosure Information
Annual Percentage Yield as of Last Dividend Declaration Date
$2,500-$4,999.99
$5,000-$9,999.99
$10,000 and over
|
0.45 % APY
0.65 % APY
0.75 % APY
|
| Dividends Compounded |
Quarterly |
| Dividends Credited |
Quarterly |
| Dividend Period |
Calendar Quarter |
| Minimum Opening Deposit |
$2,500.00 |
| Minimum Balance to Avoid Service Charge |
None |
| Minimum Average Daily Balance to earn the Stated APY |
$2,500.00 |
| Balance Method |
Average Daily Balance |
Club Accounts
To help members save for a specific purpose, the credit union offers Christmas Club, Vacation Club and Tax accounts.
You'll find that a small payroll deduction each payday will quickly add up to pay for whatever your needs are.
Christmas Club accounts are revolving accounts - no need to re-open each year.
Please check with the credit union for current rates on these accounts.
Truth-In-Savings Disclosure Information
| Annual Percentage Yield as of Last Dividend Declaration Date (2010) |
0.35% APY |
| Dividends Compounded |
Quarterly |
| Dividends Credited |
Quarterly |
| Dividend Period |
Calendar Quarter |
| Minimum Opening Deposit |
None |
| Minimum Balance to Avoid Service Charge |
None |
Minimum Average Daily Balance to earn the Stated APY
(Vacation Clubs and Tax Accounts)
|
$25.00 |
Minimum Average Daily Balance to earn the Stated APY
(Christmas Clubs) |
None |
| Balance Method |
Average Daily Balance |
SHARE CERTIFICATES
Certificates provide a secure, savings option with higher returns than regular shares.
- Minimum investment of $5000.
- 6, 12 and 24 month terms available.
- Dividend rate fixed for the term of the certificate.
- Dividends are paid to your regular share account on a quarterly basis.
- Early withdrawal penalties apply.
- Funds insured up to $250,000 by the NCUA, National Credit Union Administration
| Term |
APR* |
APY** |
| 6 month |
.65% |
.65% |
| 12 month |
.75% |
.75% |
| 24 month |
.85% |
.85% |
*APR = Annual Percentage Rate **APY = Annual Percentage Yield
Additional Services
As part of your membership, the following additional services are available to you:
• Credit Disability Insurance
• Direct Deposit
• Family Membership - Any family member may join the credit union!
• Money Orders
• NADA Used Car Value Quotes
• New Car Invoice Pricing
• Quarterly Newsletter
• Night Depository
• Payroll Deduction
• 24/7 Audio Response System
• Visa Check Card
• Visa CU Money Travel Card - Now Reloadable
• Visa Gift Cards
Many of these services are provided at no charge, however the following services are subject to a fee.
SHARE ACCOUNT FEES:
| Entrance Fee |
None |
| Deposited checks returned unpaid |
$10.00 |
| Statement Reprint |
$3.00 |
| Stop Payment |
$10.00 |
| Wire Fee |
$15.00 |
| NSF (non-sufficient funds) |
$25.00 |
| Account Balance Assistance (1 hour minimum) |
$10.00/hour |
| |
|
| OTHER FEES: |
|
| Account history between statement cycles |
$0.25/page |
| Corporate Share Draft - payable to third party |
$1.00 |
| Money Order |
$0.50 |
| Writ of Execution |
$50.00 |
| Government Levy |
$50.00 |
| Visa® Gift Card |
$2.00 |
| Visa® Travel Money Card |
$2.50 |
| Copy Fee |
$0.25/page |
| Dormancy (no activity for a year) |
|
Shares (savings) |
$1.00 |
Share Draft (checking) |
$1.00 |
|
