- Certificates of Deposit
- Business/Consumer Savings
Certificates of Deposit Rates Effective as of: 07/21/2010
Certificates of Deposit Including Regular and Roth IRA CDs |
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Term |
APY % |
Notes |
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3 Month |
0.50 |
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6 Month |
0.70 |
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12 Month |
1.10 |
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24 Month |
1.60 |
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36 Month |
2.20 |
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48 Month |
2.55 |
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60 Month |
2.90 |
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Right Course CD |
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Term |
APY % |
Notes |
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12 Month |
0.60 |
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24 Month |
1.10 |
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90 -179 Days (3 to 5 Months, 29 Days) renews to 3 month term |
1,095 - 1,459 Days (24 to 35 Months, 29 Days) renews to 24 month term |
180 - 364 Days (6 to 11 Months, 29 Days) renews to 6 month term |
1,460 -1,824 Days (36 to 47 Months, 29 Days) renews to 36 month term |
365 -1,094 Days (12 to 23 Months, 29 Days) renews to 12 month term |
1,825 - 2,190 Days (48to 60 Months, 29 Days) renews to 48 month term |
Disclosures
Except as specifically described, the following disclosures apply to all of the above listed accounts. The rates appearing in this Schedule are accurate and effective for deposit accounts as of the effective date indicated on this rate schedule. If you have any questions or require current rate information on your accounts, please call or write the Credit Union at 904.723.6300 or P.0. Box 16688 Jacksonville, FL 32245.
- Rate Information. The Annual Percentage Yield (APY) is a percentage rate that reflects the total amount of dividends to be paid on an account based on the interest rate and frequency of compounding for an annual period. The Interest Rate and Annual Percentage Yield are fixed and will be in effect for the term of the account. The annual Percentage Yield is based on an assumption that interest will remain on deposit until maturity. A withdrawal of interest will reduce earnings.
- Interest Compounding and Crediting. The compounding and crediting of interest applicable to each account is set forth in the Rate Schedule, located on the previous tab at the top of this page.
- Balance Information. The minimum balance requirements applicable to each account are set forth in the Rate Schedule. Interest is calculated by the Daily Balance method which applies a daily periodic rate to the principle in the account each day.
- Accrual of Interest. Interest will begin to accrue on non-cash deposits (e.g. checks) on the business day you make the deposit to your account.
- Transaction Limitations. After your account is opened, your ability to make additional deposits to your account or withdrawals of interest and any limitations on such transactiosn are set forth in the Rate Schedule.
- Maturity. Your account will mature as indicated on this rate schedule, or on your Account Receipt or Renewal Notice.
- Early Withdrawal Penalty. We may impose a penalty if you withdraw any of the principle before the maturity date. The amount of the early withdrawal penalty is based upon the term of your account. The penalty schedule is as follows:
The penalty is calculated as a forfeiture of part of the interest that has been or would be earned on the account. It applies whether or not the intererest has been earned. In other words, if the account has not yet earned enough interest or if the interest has already been paid the penalty will be deducted from the principal.30 to 364 days 30 days interest 365 to 729 days 90 days interest 730 + days 180 days interest - Exceptions to Early Withdrawal Penalty. At our option, we may waive the early withdrawal penalty under the following circumstances:
- When the account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction.
- Ehere the account is an Individual Retirement Account (IRA) and any portion is paid within seven (7) days after establishment; or where the account is a Keogh Plan (Keogh) provided that the depositor forfeits an amount of at least equal to the simple interest earned in the amount withdrawn; or where teh account is an IRA or Keogh and the owner attains age 59 1/2 or becomes disabled.
- Renewal policy. The renewal Policy for your accounts is indicated on this rate schedule. Your account will be automatically renewed for another term upon maturity. You have a grace period of seven (7) days after maturity in which to withdraw the funds in the account without being charged an early withdrawal penalty.
- Non-Transferable/Non-Negotiable. Your account is non-transferable and non-negotiable. No amounts in any IRA account can be used as collateral for a loan.
Business/Consumer Savings Rates Dividend Declaration Date: 08/01/2010
DividendsMinimum Balance
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Account Type |
Tier 1APY % |
Tier 2APY % |
Tier 3APY % |
Tier 4APY % |
Balance Requirements |
Personal, Business, & Children's Savings |
0.00 | 0.15 | 0.25 | 0.50 |
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Reserve Savings |
0.00 | 0.15 | 0.25 |
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IRA (Traditional/Roth) |
0.00 | 0.15 | 0.25 | 0.75 |
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Holiday Savings |
0.25 | 0.50 |
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Money Market |
0.00 |
0.60 |
0.75 |
Premier 0.85 |
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Checking (Personal Interest Bearing) |
0.00 | 0.15 | 0.35 |
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Checking (Totally Free) |
0.00 | N/A |
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Checking (ecoChecking) |
0.00 | N/A |
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Business Checking |
0.00 | 0.15 | 0.35 | 0.75 |
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Notes ¹Balance method for calculating dividends is the Daily Balance. Exceptions are Personal Interest Checking and Business Checking. APY % = Annual Percentage Yield
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Disclosures
The rates and terms applicable to your account at the Credit Union are provided in this Rate Schedule. The Credit Union may offer other rates for these accounts from time to time. The rates appearing in this Schedule are accurate and effective for deposit accounts as of the Last Dividend Declaration Date indicated on this Rate Schedule. If you have any questions or require current rate information on your accounts, please call or write the Credit Union.
- Rate Information. The Annual Percentage Yield (APY) 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 quarterly as determined by the Credit Union's Board of Directors.
- 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 of dividends and dividend period applicable to each account are set forth in the Rate Schedule. The Dividend Period is the period of time at the end of which an account earns dividend credit. The Dividend Rates and Annual Percentage Yields are the rates and yields as of the last dividend declaration date which is set forth in the Rate Schedule.
- Accrual of Dividends. 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, accrued dividends will not be paid.
- Balance Information. The minimum balance requirements applicable to each account are set forth in the Rate Schedule. An Account Maintenance Fee, as set forth in the Fee Schedule, will be charged to the Share Savings Account if the combined average daily balance for all sub-accounts (Share Savings, Holiday and Reserve Savings, Money Markets, Individual Retirement, Term Share Certificates and Checking) is less than the Minimum Balance to avoid an Account Maintenance Fee, as set forth in the Rate Schedule. The fee will be waived if the primary member is under age 24, or if the account has a loan, line of credit or an FTCU credit card.
- Account Limitations. For Holiday Savings, Reserve Savings, and Money Market accounts, no more than six (6) preauthorized, automatic, or telephone transfers may be made from these accounts to another account of yours or to a third party in any month. The Credit Union may refuse transfers in excess of these limitations and your account may be subject to a fee. For a Holiday Savings account, the entire balance will be paid to you by transfer to another account of yours on or after October 1, or November 1 (your choice) and the account will remain open. You may be charged a withdrawal fee for each withdrawal from the Holiday account. For Share and Share Draft (Checking) accounts, no account limitations apply.
- eStatements. All Private PC (online banking) members will automatically be enrolled in eStatements with continuous free online banking and Check Imaging. Private PC members who un-enroll (elect to receive a paper statement) will be charged $2 per month for the paper statement.
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