CERTIFICATE ACCOUNTS
This Rate and Fee Schedule sets forth current conditions, rates, fees, and charges applicable to your Certificate Accounts at Emerald Empire Federal Credit Union at this time. The Credit Union may offer other rates and fees or amend the rates and fees contained in this schedule from time to time. Each account holder agrees to the terms set forth on these Truth in Savings Disclosures and acknowledges they are part of the Membership and Account Agreement.
EFFECTIVE DATE: November 13, 2024
| Term | Minimum Opening Deposit | Dividends Compounded | Dividends Credited | Dividend Period | Dividend Rate-Range | Annual Percentage Yield |
|---|---|---|---|---|---|---|
| 6-Month Certificate | $1,000.00 | At Maturity | At Maturity | At Maturity | 3.40% | 3.40% |
| 9-Month Certificate | $1,000.00 | Quarterly | Quarterly | Quarterly | 4.35% | 4.35% |
| Add-On 1 Year Certificate | $1,000.00 | Quarterly | Quarterly | Quarterly | 4.10% | 4.10% |
| One Year Certificate | $1,000.00 | Quarterly | Quarterly | Quarterly | 4.10% | 4.10% |
| 2-Year | $1,000.00 | Quarterly | Quarterly | Quarterly | 3.75% | 3.75% |
| 3-Year Bump-It-Up Certificate | $1,000.00 | Quarterly | Quarterly | Quarterly | 3.40% | 3.40% |
| CD Rate Offerings are Subject to Change at Any Time | ||||||
TRUTH IN SAVINGS ACCOUNT DISCLOSURE
- Rate Information. The Dividend Rate and Annual Percentage Yield on your accounts are set forth above. The Dividend Rate and Annual Percentage Yield are fixed and will be in effect for the term of the account. The Annual Percentage Yield is based on an assumption that dividends will remain on deposit until maturity. A withdrawal of dividends will reduce earnings.
- 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 Yield set forth above are accurate as of the Effective Date, which the Credit Union anticipates paying for the applicable dividend period.
- Compounding and Crediting. Dividends will be compounded and credited as set forth above. For dividend bearing accounts, the Dividend Period begins on the first calendar day of the period and ends on the last calendar day of the period.
- Accrual of Dividends. Dividends will begin to accrue on both cash deposits and non-cash deposits on the business day you make the deposit to your account. If you close your account before accrued dividends are credited, accrued dividends will not be paid.
- Balance Information. The minimum balance required to open each account and earn the stated Annual Percentage Yield is set forth above. If you do not maintain the minimum balance, you will not earn the stated Annual Percentage Yield. For all accounts, dividends are calculated using the Daily Balance method, which applies a daily periodic rate to balance in the account each day.
- Account Limitations. After your account is opened, you may not make additional deposits to a Certificate account. Any withdrawal from a Certificate account will be treated as a withdrawal of the entire balance. The certificate will be closed, and any remaining balance will be transferred to a Savings account and will earn the rate for that account.
- Maturity. Your Certificate account will mature on the maturity date set forth on your Account Receipt or Renewal Notice.
- Early Withdrawal Penalty. We may impose a penalty if you withdraw from your account before the maturity date.
- Amount of Penalty. For all accounts, the amount of the early withdrawal penalty is based on the term of your account. The penalty schedule is as follows: (i) Term of 12 months or less – 30 days’ dividends; and (ii) Term of Longer than 12 months – 60 days’ dividends.
- How the Penalty Works. The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned on the account. It applies whether or not the dividends have been earned. In other words, if the account has not yet earned enough dividends or if the dividend has already been paid, the penalty will be deducted from the principal.
- Exceptions to Early Withdrawal Penalties. At our option, we may pay the account before maturity without imposing an early withdrawal under the following circumstances: (i) When an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction; (ii) where the account is an Individual Retirement Account (IRA) and any portion is paid within seven (7) days after the establishment; or where the account is a Keogh Plan (Keogh), provided that the depositor forfeits an amount of at least equal to the simple dividends earned in the amount withdrawn; or where the account is an IRA or Keogh and the owner attains age 59½ or becomes disabled.
- Renewal Policy. Certificate accounts (excluding IRA certificates) are automatically renewable accounts. Automatically renewable accounts will renew for another term upon maturity. You have a grace period of ten days after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty. For IRA certificates, you will not be paid dividends on the account after the maturity date. Upon maturity, the account balance will transfer to your IRA Share account.
- Nontransferable/Nonnegotiable. Your account is nontransferable and nonnegotiable. The funds in your account may not be pledged to secure any obligation of an owner, except obligations with the Credit Union.
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.