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IRA Rates and Fee Schedule

The rates, fees and charges applicable to your account at the Credit Union are provided below. Rim Country Federal Credit Union may offer other rates for these accounts from time to time without notice and without limitation.

IRA Savings Account (Non-Certificate)
Dividend Rate
(APY) - Annual % Yield
0.40%
0.40%
Dividends Compunded: Quarterly
Dividends Credited: Quarterly
Balance Requirements
Minimum Opening Deposit: $100
Minimum Balance to Earn Stated APY: Daily Balance
Balance Method: Average Daily Balance
Account Limitations: Large withdrawals may require 10 days notice

ACCOUNT DISCLOSURES:

Except as specifically described, the following disclosures apply to all accounts.

1.  Rate information: The Dividend Rate and Annual Percentage Yield (APY) on your accounts are set forth above.  The Annual Percentage Yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period.  The Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union’s Board of Directors.

2.  Nature of Dividends.  Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period.  The Dividend Rate and APY are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period, but may be changed without notice and are not guaranteed.

3.  Compounding and Crediting.  Dividends will be compounded and credited as set forth above.  The Dividend Period for each account is set forth above.  The Dividend Period begins on the first calendar day of the period and ends on the last calendar day of the period.

4.  Accrual of Dividends.  Dividends will begin to accrue on cash share/noncash share deposits (e.g. checks) on the business day a deposit is made to your account.  For all accounts,   if the account is closed before accrued dividends are credited, accrued dividends will not be paid.

5.  Balance Information.  The minimum balance required to open each account is set forth above.  For accounts using an Average Daily Balance method dividends are calculated by applying a periodic rate to the average of the daily balances over the dividend period.  The dividend is determined by the Average Daily Balance for the Quarter.

All Accounts are governed by the laws of the State of Arizona.

ACCOUNT SERVICE FEES:

Change of Ownership: $5.00 per occurrence
Wire Transfer Fee (domestic only ): $20.00 per Transfer
Wire Transfer Fee (Incoming): $10.00 per Transfer
Bad Address Fee: $5.00 per occurrence
Escheat Fee: $25.00 per  account
Account Research Fee: $5.00 per item
Statement Copy Fee: $5.00 per copy
Deposited Item Return Fee: $5.00 per item
Stop Payment Request: $15.00 per request
Early Closure Fee (Within 90 days): $10.00 per occurrence
Garnishment/Levy Processing Fee: $25.00
Transfer/Rollover Certified Mail Fee: $10.00

 

IRA Certificate Account
Dividend Rate
(APY) - Annual % Yield
0.75%
0.752%
0.75%
0.752%
Dividends Compunded: Quarterly
Dividends Credited: Quarterly
Balance Requirements
Minimum Opening Deposit: $100
Minimum Balance to Earn Stated APY: Daily Balance
Balance Method: Average Daily Balance
Account Limitations: Large withdrawals may require 10 days notice

ACCOUNT DISCLOSURES:

Except as specifically described, the following disclosures apply to all of the accounts.

1.  Rate Information. The Annual Percentage Yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. For all Share Certificate accounts, the Dividend Rate and Annual Percentage Yield may change as determined by the Credit Union’s Board of Directors.  The Annual Percentage Yield is based on an assumption that dividends will remain on deposit until maturity.  A withdrawal of dividends will reduce earnings.

2.  Dividends Compounding and Crediting. The compounding and crediting of dividends applicable to each Share Certificate account is set forth in the Rate Schedule.  The Dividend Period begins the first calendar day of the Dividend Period and ends on the last calendar day of the Dividend Period.

3.  Balance Information. The minimum balance requirements applicable to each account are set forth in the Rate Schedule.  For all accounts, dividends are calculated by the Average Daily Balance method which applies a periodic rate to the average daily balance in the account for the period.  The Average Daly Balance is determined by adding the full amount of the principal in the account for each day of the period and dividing that figure by the number of days in the period.

4.  Accrual of Dividends. For all accounts, dividends will begin to accrue on noncash Share Certificate deposits (e.g. checks) on the business day you make the Share Certificate deposit to your account.  For all accounts, if you close your account before accrued dividends are credited, accrued dividends will not be paid.

5.  Transaction Limitations. After your account is opened, your ability to make additional Share Certificate deposits to your account or withdrawals of dividends and any limitations on such transactions are set forth in the Rate Schedule.  Share Certificate deposits are restricted if lobby rate is less than your current certificate rate.

6.  Maturity. Your account will mature as indicated on this Schedule or on your Account Receipt or Renewal Notice.

All Accounts are governed by the laws of the State of Arizona.

EARLY WITHDRAWAL PENALTY. We may impose a penalty if you withdraw any of the principal before the maturity date.

AMOUNT OF PENALTY.  For all accounts, the amount of the early withdrawal penalty for your accounts may be up to 30 day dividends plus a $10 early withdraw fee.

HOW THE PENALTY WORKS.  The penalty is calculated as a forfeiture of part of the dividends that have been accrued but not paid on the account.

EXCEPTIONS TO EARLY WITHDRAWAL PENALTIES.  At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances:

  • When an account owner dies
  • When an account owner is determined legally incompetent by a court or other body of jurisdiction

RENEWAL POLICY.  The renewal policy for your account is indicated on the reverse side.  For all accounts, your account will automatically renew for another term upon maturity.  For all accounts, you have a grace period of ten (10) days after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty.

NONTRANSFERABLE/NONNEGOTIABLE. Your account is nontransferable and nonnegotiable.  The finds in your account may not be pledged to secure any obligation of an owner, except obligations with the Credit Union.

ACCOUNT FEE SCHEDULE:

Withdrawal Fee (for early/partial withdrawal from principal): $10.00

 

Copyright 2015 RIM Country Federal Credit Union. All rights reserved. Equal Opportunity Lender and Member NCUA.
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