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Currently, we are paying a quarterly dividend on all share balances above $300. We use the average daily balance which is compounded quarterly. Historically, our dividend rates have always exceeded any of our competitor's rates. Call us for our current share dividend rates. There are deposit restrictions in the amount of $10,000 per month, per account. The maximum balance for any one account it $150,000. All shares are insured up to $250,000 by the NCUSIF.

See the Truth in Savings Disclosure below for more details

Truth in Savings Disclosure

Rate Information: All accounts are subject to the following items.

  1. Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period.
  2. The dividend rate (APR) and the Annual Percentage (APY) are the anticipated rates for the applicable period and the may change every dividend period at the discretion of the credit union. All APY disclosures assume that the dividends will remain in the share account in which they are earned. Withdrawing the dividend or transferring the dividend to a different account will reduce the APYE (the actual Annual Percentage Yield Earned), but under no circumstances will the APYE be less than the APR.
  3. The Balance Method used is the Average Daily Balance Method which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
  4. Dividends will begin to accrue on cash and non-items (i.e., checks) on the business day following the day that the deposit is made to the account, i.e. dividends are based on the beginning-of-day balance.
  5. Accounts closed before accrued dividends are posted will not be paid a dividend for the amount accrued since the beginning of the period. This restriction applies to all accounts.
  6. Dividend periods begin on the first calendar day of the first month of each period and end in the last calendar day of the last month in each period.
  7. The term for all accounts will be 365 days, i.e. 1/365th of the rate will be calculated on the balance each day for 365 days or 366 days in a leap year.

Account Limitations: When the balance and/or transaction limitations, as noted in the Rate and Fee Schedule above, are exceeded, accounts may be subject to fees or may be closed.

A one-time membership fee of $0.25 is charged when each new member joins the credit union.

   

We do business in accordance with the Federal Housing Law and the Equal Credit Opportunity Act.

Copyright 2003 - Pennsylvania Credit Union Association

 
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