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Rates Effective:
Friday, May 09, 2008
Business Share Savings
Account Type
|
Dividend Rate (%)
|
Annual Percentage Yield (APY) (%)
|
Minimum Opening Deposit
|
Minimum Daily Balance to Earn APY
|
Minimum Daily Balance to Avoid Service Charges
|
Below Minimum Balance Service Charge
|
Transaction Service Charges
|
Monthly Service Charge |
Dividends Compounding and Crediting
|
| Business Share Savings |
1.25 |
1.26 |
$25 |
$25 |
$1001 |
$10 per month1 |
None |
None |
Quarterly |
| Business Special Share |
1.25 |
1.26 |
$5 |
None |
None |
Not Applicable |
None |
None |
Quarterly |
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Money Market Share (See Service Charges Schedule and Disclosures)
Account Type
|
Dividend Rate (%)
|
Annual Percentage Yield (APY) (%)
|
Minimum Opening Deposit
|
Minimum Daily Balance to Earn APY
|
Minimum Daily Balance to Avoid Service Charges
|
Below Minimum Balance Service Charge
|
Transaction Service Charges
|
Monthly Service Charge |
Dividends Compounding and Crediting
|
| Money Market Share Daily Balance Tiers |
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$1,000 |
$1,000 |
$1,000 |
$5 per month |
None |
None |
Monthly |
| Tier 1: $1,000 - $4,999.99 |
1.49 |
1.50 |
$1,000 |
$1,000 |
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| Tier 2: $5,000 - $9,999.99 |
1.74 |
1.75 |
$1,000 |
$1,000 |
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| Tier 3: $10,000 - $24,999.99 |
1.98 |
2.00 |
$1,000 |
$1,000 |
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| Tier 4: $25,000 - $49,999.99 |
2.67 |
2.70 |
$1,000 |
$1,000 |
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| Tier 5: $50,000 and over |
3.06 |
3.10 |
$1,000 |
$1,000 |
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Nonprofit Basic Business Share Draft Checking
Account Type |
Dividend Rate (%) |
Annual Percentage Yield (APY) (%) |
Minimum Opening Deposit |
Minimum Daily Balance to Earn APY |
Minimum Daily Balance to Avoid Service Charges |
Below Minimum Balance Service Charge |
Transaction Service Charges |
Monthly Service Charge |
Dividends Compounding and Crediting |
| Nonprofit Basic Business Share Draft Checking |
None |
None |
$100 |
None |
None |
None |
25 free debit and/or credit items then $.25/transaction |
$6 per month (waived if less than 26 debit and/or credit items per month) |
None |
Nonprofit Business Share Draft Checking
Account Type
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Dividend Rate (%)
|
Annual Percentage Yield (APY) (%)
|
Minimum Opening Deposit
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Minimum Daily Balance to Earn APY
|
Minimum Daily Balance to Avoid Service Charges
|
Below Minimum Balance Service Charge
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Transaction Service Charges
|
Monthly Service Charge |
Dividends Compounding and Crediting
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| Nonprofit Business Share Draft Daily Balance Tiers |
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$100 |
$100 |
None |
None |
200 free debit and/or credit items then $.25 per item |
$6 per month (waived if $4000 Aggregate Deposit and Loan Balances are maintained) |
Monthly |
| Tier 1: $100 - $999.99 |
.25 |
.25 |
$100 |
$100 |
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| Tier 2: $1,000 - $4,999.99 |
1.10 |
1.11 |
$100 |
$100 |
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| Tier 3: $5,000 - $9,999.99 |
1.35 |
1.36 |
$100 |
$100 |
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| Tier 4: $10,000 - $24,999.99 |
1.60 |
1.61 |
$100 |
$100 |
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| Tier 5: $25,000 and over |
1.85 |
1.87 |
$100 |
$100 |
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Small Business Share Draft
Checking
Account Type
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Dividend Rate (%)
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Annual Percentage Yield (APY) (%)
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Minimum Opening Deposit
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Minimum Daily Balance to Earn APY
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Minimum Daily Balance to Avoid Service Charges
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Below Minimum Balance Service Charge
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Transaction Service Charges
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Monthly Service Charge |
Dividends Compounding and Crediting
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| Small Business Share Draft Checking Daily Balance Tiers |
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$100 |
$1,000 |
None |
None |
200 free debit and/or credit items then $.25 per item |
$6 per month (waived if $7500 Aggregate Deposit and Loan Balances are maintained) |
Monthly |
| Tier 1: $1,000 - $4,999.99 |
.85 |
.85 |
$100 |
$1,000 |
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| Tier 2: $5,000 - $9,999.99 |
1.00 |
1.00 |
$100 |
$1,000 |
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| Tier 3: $10,000 - $24,999.99 |
1.35 |
1.36 |
$100 |
$1,000 |
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| Tier 4: $25,000 and over |
1.60 |
1.61 |
$100 |
$1,000 |
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Business Share Draft Checking
Account Type
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Dividend Rate (%)
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Annual Percentage Yield (APY) (%)
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Minimum Opening Deposit
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Minimum Daily Balance to Earn APY
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Minimum Daily Balance to Avoid Service Charges
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Below Minimum Balance Service Charge
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Transaction Service Charges
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Monthly Service Charge |
Dividends Compounding and Crediting
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| Business Share Draft Checking Daily Balance Tiers |
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$100 |
$1,000 |
None |
None |
$.12 per debit or credit item |
$6 per month |
Monthly |
| Tier 1: $1,000 - $4,999.99 |
.85 |
.85 |
$100 |
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| Tier 2: $5,000 - $9,999.99 |
1.00 |
1.00 |
$100 |
$1,000 |
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| Tier 3: $10,000 - $24,999.99 |
1.35 |
1.36 |
$100 |
$1,000 |
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| Tier 4: $25,000 and over |
1.60 |
1.61 |
$100 |
$1,000 |
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Term Share Certificates (See Service Charges Schedule and Disclosures)
Account Type
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Dividend Rate (%)
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Annual Percentage Yield (APY) (%)
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Minimum Opening Deposit
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Minimum Daily Balance to Earn APY
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Minimum Daily Balance to Avoid Service Charges
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Below Minimum Balance Service Charge
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Transaction Service Charges
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Monthly Service Charge |
Dividends Compounding and Crediting
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| Term Share Certificates Terms Available: |
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None |
None |
None |
None |
Monthly |
| 3 Month |
2.57 |
2.60 |
$1,000 |
$1,000 |
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| 6 Month |
2.96 |
3.00 |
$1,000 |
$1,000 |
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| 1 Year |
3.01 |
3.05 |
$1,000 |
$1,000 |
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| 2 Year |
3.20 |
3.25 |
$1,000 |
$1,000 |
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| 3 Year |
3.45 |
3.50 |
$1,000 |
$1,000 |
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| 4 Year |
3.54 |
3.60 |
$1,000 |
$1,000 |
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| 5 Year |
4.03 |
4.10 |
$1,000 |
$1,000 |
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IOLTA/IORTA
Account Type
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Dividend Rate (%)
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Annual Percentage Yield (APY) (%)
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Minimum Opening Deposit
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Minimum Daily Balance to Earn APY
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Minimum Daily Balance to Avoid Service Charges
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Below Minimum Balance Service Charge
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Transaction Service Charges
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Monthly Service Charge |
Dividends Compounding and Crediting
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| IOLTA Share Draft Checking2 |
2.60 |
2.63 |
None |
$100 |
None |
None |
None |
None |
Monthly |
| IORTA Share Draft Checking2 |
2.00 |
2.02 |
$100 |
$100 |
$100 |
$10 per month |
None |
None |
Monthly |
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1 The minimum balance requirement and below minimum balance service charge apply only if: i)
your business maintains only a membership account at the Credit Union; and ii)
your business has not used the membership account for six (6) consecutive
months.
2 Funds in IOLTA and IORTA accounts will not be federally insured by the NCUA unless the clients for whom the funds are deposited are members of VSECU.
All rates are subject to change without notice. The VSECU may offer other rates for these accounts from time to time.
Term Share Certificate APY listed is based on an assumption that the dividends
will remain on deposit until maturity. A Withdrawal of dividends may reduce
earnings. |
| Additional Term Share Certificate information
For Business Term Share Certificate accounts, deposits are allowed at maturity
only; and withdrawals of dividends only are allowed.
Maturity: Your account will
mature as indicated on your Business Term Share Certificate receipt, or on your
Renewal Notice.
Early Withdrawal Penalty: We may impose a penalty if you
withdraw any of the principal from your account before the maturity date.
Amount
of Penalty: The amount of the early withdrawal penalty is based on the term of
your account. The penalty schedule is as follows: Terms of 1 Year or less: 90
days dividends if earned; otherwise, what has been earned. Terms of more than 1
Year: 180 days dividends if earned; otherwise, what has been earned.
How the
Penalty Works: The forfeiture is calculated at the simple dividend rate being
paid on the account regardless of how long the funds withdrawn have remained in
the account. The principal amount upon which the forfeiture is calculated is
the amount withdrawn.
Renewal Policy: Your account will automatically renew for
another term upon maturity, and all dividends earned will become part of the
new principal balance. You will have a grace period of ten (10) calendar days
after maturity in which to withdraw funds without penalty.
Non-transferable/Non-negotiable: Your account is non-transferable and
non-negotiable. The funds in your account may not be pledged to secure any
obligation of an owner except obligations with the Credit Union.
Additional IOLTA and IORTA Information: Funds in IOLTA and IORTA accounts will not be federally insured by the NCUA unless the clients for whom the funds are deposited are members of VSECU.
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