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Account and Fee Disclosures

Truth-in-Savings Account Disclosures

Except as specifically described, the following disclosures apply to all of the accounts. All accounts described in this Rate & Fee Schedule are share 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 Special Savings Accounts, the same rate applies to the following sub-accounts: Mortgage Escrow, Bond-a-month and expired MatriMoney Accounts. For Share Savings, Christmas Share Savings, IRA Savings, Special Savings, MatriMoney , Money Market Savings and Share Draft/Checking Accounts the Dividend Rate and Annual Percentage Yield may change at any time 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.
  3. 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 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.
  5. Balance Information. The minimum balance requirements applicable to each account are set forth in the Rate Schedule. If the minimum daily balance is not met, you will not earn the stated Annual Percentage Yield. For all accounts using a Daily Balance method, dividends are calculated by applying a daily periodic rate to the principal in the account each day.
  6. Account Limitations. For Share Savings and Money Market Savings 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 and no more than three (3) of these six (6) transfers may be made by check, draft, or debit card to a third party. If you exceed these limitations, your account may be subject to a fee or be closed. For a Christmas Share Account, the entire balance will be paid to you by check or transferred to another account of yours on or after November 1 and the account will remain open. You may be charged a withdrawal fee of $5.00 for each withdrawal from the Christmas Share Account. You may make transfers or withdrawals in the first seven (7) days after the account is opened without restriction. A minimum balance fee of $5.00 may be assessed to the Christmas Share Account if the balance is less than $5.00 on March 31 each year. MatriMoney Accounts, on the first business day after the wedding date, or if the wedding is cancelled, the account will revert to a Special Savings Account at the current rate, and rules regarding joint Special Savings Accounts apply.
  7. Inactive Accounts. A monthly fee of $5.00 may be assessed to any account that falls below any applicable minimum balance and no transactions have been made over the specified period. After the account has been transferred to an inactive status a monetary transaction must be made in order to reactivate the account. Dividends do not qualify as a monetary transaction.

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    Fee Schedule-

     

    Account History
    $2.00 per account
    greater than 1 week
    Account Reconciliation
    $25.00 per hour (min. 1 hour)
    ACH (Automated Clearing House) outbound transaction
    $5.00 per transaction
    ATM/Debit Card Replacement
    $10.00 per card
    Online Bill Payment
    FREE
    Bond Redemption
    $10.00 per bond order
    Christmas Savings  
    Christmas Savings
    Early Withdrawal

    $5.00 per withdrawal

    January 1 through March 31

    Minimum Balance
    $5.00 if balance is less than $5.00 on March 31
    Closure Share Draft/Regular Share (within 90 days of opening)
    $10.00 per account
    Corporate Check
    $2.50 per check
    Counter Check
    $1.00 per check
    Courtesy Pay
    $30.00 per item

    Debit Card Inactivity

    (90-day inactive period; closed 6 months)

    $5.00 per account
    Draft Copy
    $2.00 per copy
    Draft Printing
    prices vary depending on style
    Dormant Membership Account
    $5.00 per year after 1 year
    Inactivity
           Checking
    $5.00 per month - after 6 months
           Special Savings
    $5.00 per month - after 6 months
           Money Market
    $5.00 per month - after 6 months
    IRA Close and Transfer
    $25.00 per IRA
    Items sent for collection

    $6.25 for items less than $750.00

    $20.00 for all other items

    Locator Fee
    $2.00 per returned statement
    Maintenance Fee
    $3.00 per month**
    Money Order
    $2.50 per money order
    NSF
    $30.00 per item*
    Overdraft transfer
    $3.00 per transfer*
    Phone Transfers (does not apply to Touch-Tone Teller)
    $3.00 per transfer *
    Returned Deposit Item
    $30.00 per item*
    Statement Copy
    $5.00 per copy
    Stop Payment
    $25.00 per item*
    Wires  
    Incoming
    $5.00 per wire transfer
    Outgoing
    $20.00 per wire transfer
    International Incoming
    $20.00 per wire transfer
    International Outgoing
    $50.00 per wire transfer
    Credit Union to Credit Union within Alloya Corporate FCU
    $5.00 per transfer
    Safe Deposit Boxes  
            3 X 5

    $25.00 per year

            5 X 5
    $30.00 per year
            3 X 10
    $35.00 per year
            5 X 10
    $50.00 per year
            10 X 10
    $65.00 per year
            Lost key fee
    $25.00 each key
            Drill box fee
    $125.00 each box
    *all negotiable and electronic items

     

**A fee of $3.00 per month will be charged to your regular share account if the balance falls below $300.00 anytime during the prior month and no other account relationship is maintained under your primary member number. Member accounts that maintain other account relationships are defined as a member having, aside from their regular share account, at least one of the following additional primary account relationships: Share Draft/Checking, I.R.A., Christmas Savings, Money Market, Share Certificate, any loan, credit card or ISUFCU authorized insurance products. Any free insurance offers are not included in the definition of other account relationships. Also, the fee will not apply to any ISUFCU member account where the primary member is under the age of 21. The $300.00 minimum balance in regular shares is not required if the ISUFCU member maintains any one of the other account relationships described above. For new member accounts, the maintenance fee will not be charged for the first 12 months the account is opened. The transaction for the maintenance fee will occur by the final day of each month.

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