Rates & Fees

 

 Our Rates

Auto Loans I Personal Loans I Home Equity Loans I Home Equity Line of Credit I Recreational Vehicles I Student Loans I Savings Rates I Share Certificate Rates I Personal Line of Credit I Home Mortgages ITiered Money Market Accounts |   Youth 2-5-0 Share Certificate | IRA Share Accounts

Fixed Rate Loans ****

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Variable Rate Loans

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Disclosure of Account Terms

Minimum deposit for a Youth 2-5-0 Term Share Account.…………………………$250.00

Minimum deposit for a Term Share Account...…………….….……………………..$500.00

Minimum required balance for Share Account…………………………………….…....$5.00

Minimum required balance to earn interest on all Share Accounts………..….….$100.00

Early Withdrawal Penalty: We may impose a penalty if you withdraw any of the principle before the maturity date, or the renewal date, if this is a renewal account.

Amount of Penalty: For time deposit with an original scheduled maturity date of more than 31 days but no longer than one year the penalty is two months dividends.  For time deposits with an original scheduled maturity of more than one year, the penalty is four months dividends.

How the Penalty Works: The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned on the account.  It applies whether or not the dividends have been earned.  In other words, if the account has not yet earned enough dividends or if the dividend has already been paid, the penalty will be deducted from the principle.

 

In the Event of a Death: A Term Share Account may be withdrawn with no penalty or be held by the survivors to maturity with the proper documentation or ownership.

 

Christmas Club Accounts: On Club Accounts withdrawn prior to October 1 of the respective club year the penalty is $10.00 per withdrawal.

 

Rate Information: The Dividend Rate and Annual Percentage Yield (APY) on your account(s) is a variable rate and may change at any time.  The 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 as determined by the Credit Union’s Board of Directors.  Current rates may be obtained by calling 570-323-9407.

 

Nature of Dividends: Dividends will be compounded monthly and credited monthly to your account.  The dividend period is monthly; for example, the beginning date of the first dividend period of the calendar year is January 1 and the ending date is January 31.  The dividend declaration date follows the ending date of the dividend period, so in this example, the declaration date would be February 1.  If the account is closed prior to the declaration date, accrued dividends will be forfeited. 

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 prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period.

Dividends are calculated by the average daily balance method in which dividends are computed by applying the periodic rate to the average balance in the account for the period, with the average balance calculated by adding the balance in the account for each day of the period and dividing the sum by the number of days in the period.  Dividends will begin to accrue on cash and non-cash deposits the day you make the deposits to your account.