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Truth-in-Savings Disclosure

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The rates, fees and terms applicable to your account at the Credit Union are provided in the Truth-in-Savings Disclosure. The Credit Union may offer other rates for these accounts from time to time.

Fee Table
Click here for our fee table.

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 accounts, the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union's Board of Directors. The Dividend Rates and Annual Percentage Yields are the rates and yield as of the last dividend declaration date, which is set forth in the Rate Schedule. The Money Market Share accounts are Tiered Rate Accounts. If your Daily Balance is from $1,000.00 to $19,999.99, the first Dividend Rate and Annual Percentage Yield listed for this account in the Rate Schedule will apply. If your Average Daily Balance is $20,000.00 or greater, the second Dividend Rate and Annual Percentage Yield listed for this account will apply. Once a particular range is met, the Dividend Rate and Annual Percentage Yield for that balance range will apply to the full balance of your account.

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.

3. 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.

4. Accrual of Dividends. For all 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 accrued dividends.

5. Balance Information. To open any account, you must deposit or already have on deposit at least the par value of one full share in a Share account. The par value amount is stated in the Fee Schedule. Some accounts may have additional minimum opening deposit requirements. The minimum balance requirements applicable to each account are stated in the Rate Schedule. For Share accounts, there is a minimum Daily Balance required to avoid a service fee for the Dividend Period. In order to avoid a fee, you must maintain a minimum Daily Balance or $100.00 in your Share account or have a share draft , share certificate, IRA, loan or VISA account which is linked to the same account number. If you do not meet one of these requirements, you will be charged a service fee as disclosed in the Fee Schedule. For Share and Money Market Share accounts, there is a minimum daily balance required to earn the Annual Percentage Yield 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 Annual Percentage Yield. 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 each day.

6. Account Limitations. For all savings type shares, during any month, you may not make more than six withdrawals or transfers to another one of your credit union shares within your account, to another credit union account or bank account of yours, or to any third party by means of a pre-authorized or automatic transfer or telephonic order or instruction. No more than three of the six transfers may be made by check, draft, debit card, if applicable, or similar order to a third party.  If you exceed these limitations you may be charged a fee of $10 per excess transaction and your account may be closed if excess transactions continue to occur.  There is no limit to transactions done in person, at an ATM, by mail, or to make a payment on any loan at Heritage Family Credit Union.

Savings type shares include Primary Shares, Secondary Shares, Money Market Shares, Payroll IRA Shares, Club Account Shares, and Holiday Account Shares. 

For Money Market Share Accounts the minimum deposit and minimum withdrawal amounts is $250.

For all share types, the credit union may limit all cash withdrawals.


7. Fees For Overdrawing Accounts. Click here for fees.

Click here to view our rates.

The rates appearing in this Schedule are accurate as of the Last Dividend Declaration Date posted at the Credit Union. If you have any questions or require current rate and fee information on your accounts, please call the Credit Union. Our telephone number is 802.775.4930.
 
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