DILAXV (D37003 TSMS03)-e
transactions not posted by the end of month cutoff will be
counted towards the following month’s Rewards criteria.
Transactions may take two or more business days from
the date of the purchase transaction to post to your credit
card account. Transactions must be coded as a purchase.
Cash advances and balance transfers will not be
considered for qualification. The balance ranges and
corresponding dividend rates and annual percentage
yields applicable to each tier are disclosed in the Rate
Schedule. Each dividend rate will apply only to that portion
of the account balance within each balance range.
You will earn the ‘Tier B’ Dividend Rate and Annual
Percentage Yield if you meet the basic service
requirements and have $500.00 in credit card purchase
transactions during the monthly qualification period. Credit
Card transactions must post and settle to your CCU Visa
account, and be transmitted to Consumers Credit Union
by two days prior to the end of the calendar month to
allow for processing. Any transactions not posted by the end
of month cutoff will be counted towards the following
month’s Rewards criteria. Transactions may take two or
more business days from the date of the purchase
transaction to post to your credit card account.
Transactions must be coded as a purchase. Cash
advances and balance transfers will not be considered for
qualification. The balance ranges and corresponding
dividend rates and annual percentage yields applicable to
each tier are disclosed in the Rate Schedule. Each
dividend rate will apply only to that portion of the account
balance within each balance range.
You will earn the ‘Tier C’ Dividend Rate and Annual
Percentage Yield if you meet the basic service
requirements, but do not meet either of the credit card
purchase transaction criteria required to earn a higher
rate. The balance ranges and corresponding dividend
rates and annual percentage yields applicable to each tier
are disclosed in the Rate Schedule. Each dividend rate
will apply only to that portion of the account balance
within each balance range.
When you meet all of the basic service requirement for the
calendar month, ATM fees incurred during the month will be
refunded to you. If you fail to meet any of the basic
service requirements during a calendar month, the
applicable Dividend Rate and Annual Percentage Yield
listed for this account will apply to the entire balance in the
account and your ATM fees will NOT be refunded. One
Rewards Checking account is allowed per member.
Business accounts are not eligible for Rewards.
Qualifying credit card purchase transactions must be made
using a Consumers Credit Union issued card. Credit card
purchases that are returned will not count towards the
credit card purchase transaction requirements. The value
of the credit card purchases will be reduced by the dollar
value of any returned item(s) during the qualification period
in which the return was made.
NATURE OF DIVIDENDS — Dividends are paid from
current income and available earnings after required
transfers to reserves at the end of the dividend period.
DIVIDEND COMPOUNDING AND CREDITING — The
compounding and crediting frequency of dividends and
dividend period applicable to each account are stated in
the Rate Schedule. The Dividend Period is the period of
time at the end of which an account earns dividend credit.
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 — For all earnings
accounts, dividends will begin to accrue on non-cash
deposits (e.g. checks) on the business day you make the
deposit to your account. If you close your account before
accrued dividends are credited, you will not receive the
BALANCE INFORMATION — To open any account,
you must deposit or already have on deposit the minimum
required share(s) in a Membership Share Savings account.
Some accounts may have additional minimum opening
deposit requirements. The minimum balance requirements
applicable to each account are set forth in the Rate
Schedule. For Money Market, Rewards Checking and IRA
Money Market accounts, there is a minimum Daily Balance
required to earn the APY disclosed for the dividend period.
If the minimum daily balance is not met each day of the
dividend period, you will not earn the stated APY.
For accounts using the Daily Balance method as stated
on the Rate Schedule, dividends are calculated by
applying a daily periodic rate to the balance in the account
8. ACCOUNT LIMITATIONS — For Membership Share,
Special Share Savings, Smart Saver Savings, and
Money Market accounts, you may make no more than
six (6) transfers and withdrawals from your account to
another account of yours or to a third party in any month by
means of a preauthorized, automatic or internet transfer,
by telephonic order or instruction, or by check, draft, debit
card or similar order. If you exceed these limitations, your
account may be subject to a fee or be closed. For IRA
Savings and IRA Money Market accounts, you may not
make any preauthorized, automatic or telephone transfers
from your account at any time. For Special Savings
accounts, you may not open any other accounts. In
addition, services are limited to deposits into and
withdrawals from your Special Savings account. ACH
withdrawals will not be permitted. Deposits of all checks
(personal or business) will be held for at least nine (9)
business days. For Holiday Savings accounts, the entire
balance will be transferred to another account of yours on
or after November 1st and the account will remain open.
You may not make withdrawals from your Holiday Savings
accounts at any other time. If you wish to access the funds
in your Holiday Savings accounts you may close it. For
Money Market accounts, the minimum amount per draft
withdrawal is $250.00. For Student Choice Checking
accounts the following parameters are required: 1) available
to members age 13 - 17 years old; 2) parent or legal guardian
must be a joint account holder; 3) adult joint account
holder will be responsible and liable for all activity on your
account; 4) monthly ATM surcharge refunds, up to $25.00,
until the month after your 18th birthday; 5) Visa debit card may
be issued to you with a daily limit of $310.00; 5) requirement
to convert the youth checking to a regular checking product
prior to your19th birthday and; 6) subject to a $10 monthly
fee after your 19th birthday. New accounts not funded within
30 days will automatically be closed. Open share saving or
checking accounts with no transaction activity for 12 months,
and a zero balance, will automatically be closed.
Memberships with no transaction activity on any deposit
account for a period of at least 2 years, and that have no
open Share Certificates or loans, will be charged an Inactive
Account Fee as disclosed in the Fee Schedule. For Free
Checking accounts, no account limitations apply.
9. FEES FOR OVERDRAWING ACCOUNTS — Fees for
overdrawing your account may be imposed on each
presentment of check, draft, ATM transaction and one-time
debit card transaction (if member has consented to Courtesy
Pay overdraft protection plan for ATM and one-time debit
card transactions), preauthorized automatic debit, telephone
initiated withdrawal or any other electronic withdrawal or
transfer transaction that is drawn on an insufficient available
account balance. The entire balance in your account may
not be available for withdrawal, transfer or paying a check,
draft or item. You may consult the Funds Availability Policy
Disclosure for information regarding the availability of
funds in your account. Fees for overdrawing your account
may be imposed for each overdraft, regardless of whether
we pay or return the draft, item or transaction. If we have
approved an overdraft protection limit for your account, such
fees may reduce your approved limit. Please refer to the
Schedule of Fees and Charges for current fee information.
For ATM and one-time debit card transactions, you must
consent to the Credit Union’s Courtesy Pay overdraft
protection plan in order for the transaction amount to be
covered under the plan. Without your consent, the Credit
Union may not authorize and pay an overdraft resulting
from these types of transactions. Services and fees for
overdrafts are shown in the document the Credit Union uses
to capture the member’s opt-in choice for Courtesy Pay
overdraft protection and the Schedule of Fees and Charges.
10. MEMBERSHIP — As a condition of membership, you
must purchase and maintain the minimum required
share(s) as set forth below.
Par Value of One Share $5.00
Number of Shares Required 1