Certificates, IRAs, Checking & Savings Accounts
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Certificate and IRA Certificate
Dividend Rates
Rates effective as of November 4, 2008
Amounts of $500.00 to $94,999.99
| Certificate Term | Dividend Rate | Annual Percentage Yield | Minimum Balance* |
|
|
2.48% |
2.50% |
|
|
|
2.67% | 2.70% |
|
|
|
2.77% | 2.80% |
|
|
11 Mo Special |
3.55% | 3.60% | $10,000 |
|
|
2.87% | 2.90% |
|
|
14 Mo "Edge" Special |
3.65% | 3.70% |
$100 |
|
|
2.97% | 3.00% |
|
|
|
3.355% | 3.40% |
|
|
24 Mo Special |
3.94% |
4.00% |
$10,000 |
|
|
3.355% | 3.40% |
|
|
30 Mo Bump-Rate |
3.41% | 3.45% |
$500 |
|
|
3.80% | 3.85% |
|
|
|
4.18% | 4.25% |
|
|
|
4.425% | 4.50% |
|
*Wherever $500 is stated, $100 applies to members 0-23 years of age
*Applies only to members 0-23 years of age
"IRA Certificates are available for all terms"
Savings Accounts
| Shares Plus | This is our tiered money market account for members who want to earn higher yields. We have four different tiers to choose from based on the average daily balance: | ||
| Dividend Rate | Annual Percentage Yield | ||
|
Average daily balance |
0.75% |
0.75% |
|
|
Average daily balance |
1.24% |
1.25% |
|
|
Average daily balance |
1.74% |
1.75% |
|
|
Average daily balance
|
1.98% |
2.00% |
|
|
To be declared November 18, 2008 for the month of November to be paid November 30, 2008 |
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| DIVIDENDS are declared and paid monthly and calculated on the average daily balance. To earn a dividend, your average daily balance must be $2,500 or higher. If your average daily balance is below $2,500 no dividends are earned. Deposits and “in person” withdrawals are unlimited. Shares Plus checks are limited to three clearing your account per month, with a minimum of $500 per check | |||
|
Summit Premium Money Market Account |
This is our premium tiered money market account for members who want to earn our highest money market yields. There are three different tiers to choose from based on the average daily balance: | ||
| Dividend Rate | Annual Percentage Yield | ||
|
Average daily balance |
2.28% |
2.30% |
|
|
Average daily balance |
2.42% |
2.45% |
|
|
Average daily balance
|
2.57% |
2.60% |
|
|
If your average daily balance is $2,500 - $44,999.99 the dividend rate is 1.24%, APY 1.25% |
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To be declared November 18, 2008 for the month of November to be paid November 30, 2008 |
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DIVIDENDS are declared and paid monthly and calculated on the average daily balance. To earn a dividend, your average daily balance must be $2,500 or higher. If your average daily balance is below $2,500 no dividends are earned. Deposits and “in person” withdrawals are unlimited. Summit checks are limited to three clearing your account per month, with a minimum of $500 per check. |
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| Savings Account | This is the account that establishes you as a member of the credit union. The flexibility of this account can provide you with a regular savings account, Christmas Club or Business account. | |
| Dividend RATE | Annual Percentage YIELD | |
| .50% | .50% | |
|
Dividends are
declared and paid monthly and calculated on the average daily balance. To
earn a dividend, your average daily balance must be $100 or higher. if
your average daily balance is below $100.00 ($5.00 for accounts held by those
under 18 years of age), no dividends are earned. A minimum of $5.00 is
required to open and maintain an account. The Credit Union has non-dividend bearing savings accounts available. These accounts are available to all members; however, individuals who do not possess a valid tax identification number are not eligible to earn dividends on savings deposit products. |
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Checking Accounts
Dividends are not paid on checking accounts with the exception of the Vista Checking Account as described below.
| Vista Checking Account | With Vista Checking you receive an incredible 3.50% APY on your account with no minimum balance and unlimited free ATM use nationwide just by doing the following three things monthly: 1) Use e-statements 2) Log onto your Vista account online 3) Use your debit card for twelve or more purchases | |
| Dividend RATE | Annual Percentage YIELD | |
|
Average daily balance (no limit on balance) |
3.445% | 3.50% |
|
Average daily balance (no limit on balance) |
.10% | .10% |
|
DIVIDENDS are declared and paid monthly and calculated on the average daily balance. To earn Vista's premium dividend, you must use your cash/check (debit) card for 12 purchase transactions and log into your Vista account online once a month and receive Peninsula Credit Union's electronic statements monthly. For qualification purposes, a month is defined as the last day of the month to the day before the last day of the next month. |
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IRA
|
Individual Retirement Account (IRAs) Basic Savings IRA |
Dividend RATE | Annual Percentage YIELD |
| 1.19% | 1.20% | |
|
To be declared November 18, 2008 for the month of November to be paid November 30, 2008 |
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| Certificates and IRAs: | A lifetime of smart money management can lead to a retirement without financial worries. That's why we have a variety of Certificates and IRAs to help our members maximize their investment, without market risk, for as little as $500. We have a variety of terms (3 months to 60 months), all with competitive rates. | |
| Certificates: Certificate dividend earnings may be left to compound, or you may take dividends quarterly. Both short and long-term investors will find the investment tool that's right for them. Check with the Credit Union weekly for the most current certificate rates. Certificate RATES remain fixed for the term of the certificate, excluding Bump Rate certificates. There are substantial penalties for early withdrawal of certificate funds. | ||
| Individual Retirement Accounts: IRAs include traditional, Roth, and Education IRAs in certificate form. Dividends on traditional IRAs are tax free until you begin to make withdrawals. (Check with your personal tax advisor to see if you are eligible to deduct your IRA contributions). Members may choose from terms ranging from 3 months to 60 months. | ||
Your savings insured to at least $250,000 and backed
by the full faith and credit of the United States
Government by the National Credit Union
Administration, a U.S. Government Agency.
Please take this opportunity to review PCFCU's Privacy Policy and Terms and Conditions of Use.
Account Information
1. Interest Rate and Dividend Information.
Rates and terms are subject to change without notice. All rates quoted refer to the Annual Percentage Yield (APY). Earned dividends are paid on entire balance in the account. Accounts other than certificates, must remain open to the end of the dividend period to be paid dividends. Fees and charges may apply (and may reduce earnings) on the above accounts, please refer to the Fee Schedule for details.
The Dividend Rate and Annual Percentage yield may change monthly as determined by the Credit Union's board of Directors. Dividends are paid from current income and available earnings after providing for the required reserves. The Dividend Rates and Annual Percentage Yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period. Dividends will begin to accrue on the business day the deposit is made to your account.
or Savings
Accounts, the dividend rate and APY may change
monthly as determined by the Board of Directors.
They APY is based on the assumption
that dividends will remain on deposit until
maturity, and withdrawals will reduce earnings.
Accounts, other than certificates must remain open
to the end of the dividend period to be paid dividends. Dividends are paid from current income and available
earnings after required transfers to reserves at the
end of a dividend period, and the dividend rate and APY are the rates the Credit Union will pay for the
applicable dividend period.
Federal
Regulations state that you may make up to six (6) preauthorized, automatic,
telephone, audio response, personal home banking system transfers to another
account of yours or to a third party during any calendar month.
Of these six, you may make no more than three (3) transfers to a third party
by check or debit card. This includes a combination of the above
transactions. You may make unlimited withdrawals or transfers in
person, by mail, or at an automated teller machine, or by telephone with a
check mailed to you.
2. Accrual of Dividends
Dividends will begin to accrue on all deposits on the business day you make the deposit to your account. Savings Accounts must maintain a minimum balance and remain open to the end of the dividend period to be paid dividends. Certificate accounts are paid dividends to the date of withdrawal or closure.
3. Savings, Summit and Shares Plus Account Limitations
Federal Regulations state that you may make up to six (6) preauthorized, automatic, telephone, audio response, personal home banking system transfers to another account of your or to a third party during any calendar month. Of these six, you may make no more than three (3) transfers to a third party by check or debit card. This includes a combination of the above transactions. You may make unlimited withdrawals or transfers in person, by mail, or at an automated teller machine, or by telephone with a check mailed to you. Shares Plus checks are limited to three checks clearing your account per month with a minimum of $500 per check. NCUA- Your savings insured to at least $100,000 and backed by the full faith and credit of the United States Government by the National Credit Union Administration, a U.S. Government Agency.
4. Certificate and IRA Certificate Information (See Certificate Disclosure for details).
After your account is opened you may not make additional deposits to your account, except for our Add-On Certificate.
Maturity - Your account will mature on the maturity date set forth on your Certificate Disclosure Statement.
Penalty - There are substantial penalties for early withdrawal of certificate funds. Early withdrawal of certificate funds is subject to a penalty of one-half of the interest that would be earned over the original term of the certificate. The penalty is calculated on the amount withdrawn.
Renewal - Accounts have an automatic renewal feature at maturity.
Accounts may not be pledged, are nontransferable, except as collateral for a loan at Peninsula Credit Union.
Fees and charges may apply on the above named accounts, please refer to the Fee Schedule for details.