Truth in Savings

Share Account TIS Disclosures

Except as specifically described, the following disclosures apply to all share accounts listed above.

RATE INFORMATION: The dividend rate and annual percentage yield may change as determined by the credit union. Fees may reduce earnings.

NATURE OF DIVIDENDS: Dividends are paid from current income and available earnings after required transfers to reserves at the end of each month.

COMPOUNDING AND CREDITING: Dividends are compounded and credited to your account monthly. The dividend period begins on the first calendar day of the month and ends on the last calendar day of the month.

ACCRUAL OF DIVIDENDS: Dividends will begin to accrue 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.

MINIMUM BALANCE REQUIREMENTS: Minimum balance is set forth above.

MONTHLY BALANCE COMPUTATION METHOD: Dividends are calculated by the monthly balance method which applies a monthly periodic rate to the principal in the account each each month.

COMBO SAVINGS ACCOUNT: A Combo Savings account can only be opened in conjunction with a Combo CD account, and both accounts will earn the same Annual Percentage Yield. Whatever total amount you deposit into the Combo CD accounts, you can deposit up to the same amount in the Combo Savings account. You are able to withdraw and add to the Combo Savings at any time without penalty during the term of the Combo CD & Savings accounts. The total Combo Savings account balance cannot exceed the total of your Combo CD balances or you will be assessed the applicable account transfer fee (see fee schedule), the overage will be moved into your S1 account, and you will forfeit the interest earned on the overage. After the term of the Combo CD that is in conjunction with your Combo Savings account, the Combo Savings deposit will transfer into your S1 account.

TIERING METHOD: Read how the system works.

Certificate of Deposit TIS Disclosures

Except as specifically described, the following disclosures apply to all certificates of deposit listed above.

RATE INFORMATION: The interest rate and annual percentage yield on your accounts are specified. The annual percentage yield is a percentage rate that reflects the total amount of interest to be paid on an account based on the interest rate and frequency of compounding for an annual period. The annual percentage yield is based on an assumption that interest will remain on deposit until maturity. A withdrawal will reduce earnings.

COMPOUNDING AND CREDITING: Interest is compounded and credited to your account monthly. The interest period begins on the first calendar day of the month and ends on the last calendar day of the month.

ACCRUAL OF INTEREST: Interest will begin to accrue on the business day you make the deposit to your account.

MINIMUM BALANCE REQUIREMENTS: The minimum balance required to open each account is specified above.

MONTHLY BALANCE COMPUTATION METHOD: Interest is calculated by the monthly balance method which applies a monthly periodic rate to the principal in the account each month.

MATURITY: Your account will mature at the maturity date set forth on your account receipt or renewal notice. All CDs will be automatically renewed for the same term (unless specified otherwise) but at the new rate. Special certificate terms that are no longer available will be deposited into your regular savings account, unless notification is received by the credit union before the maturity date. You will have a grace period of ten (10) calendar days after the maturity date to deposit, change terms, or withdraw from the account without penalty.

EARLY WITHDRAWAL PENALTY: We may impose a penalty if you withdraw any of the funds in your account before the maturity date. The amount of the early withdrawal penalty is based on the term of your account. For accounts with maturities of 12 months or less, the penalty is loss of 90 days interest. For accounts with maturities of more than 12 months to 25 months, the penalty is loss of 180 days interest. For accounts with maturities of more than 25 months, the penalty is loss of 18 months interest for accounts opened after June 30, 2020, and the penalty is loss of 1 year for accounts opened on or before June 30, 2020. The penalty is calculated as a forfeiture of part of the interest that has been or would be earned at the interest rate on the account. It applies whether or not the interest has been earned. Penalties will be applied first towards interest, then towards principal. You must pay the full penalty regardless of the length of time the principal amount withdrawn has been on deposit. For variable rate accounts, the penalty will be assessed using the most current interest rate.

BUMP FEATURE: If you have a CD account with a bump feature, you may at any time during the term of your CD, request that we raise your rate to the current CCU published rate for the equivalent term Bump CD. You will then earn that higher rate for the remainder of the term. You may only exercise this feature one time during the term of the CD. CD rates are set at the credit union’s discretion. It is a possibility that the rate would not increase over the term of the CD and you would not be able to bump your rate. The maximum additional Relationship Rewards rate bonus on this CD is 0.10%, depending on your level of share (excluding CD’s) or loan balances.

RISING RATE FEATURE: If you have a CD account with a rising rate feature, the CD will automatically increase at the rate(s) and for the term(s) indicated. CD rates are set at the credit union’s discretion.

COMBO CD & SAVINGS ACCOUNT FEATURE: Opening a Combo CD account enables you to open a Combo Savings account, and both accounts will earn the same Annual Percentage Yield. Whatever total amount you deposit into the Combo CD accounts, you can deposit up to the same amount in the Combo Savings account. You are able to withdraw and add to the Combo Savings at any time without penalty during the term of the Combo CD & Savings accounts. The total Combo Savings account balance cannot exceed the total of your Combo CD balances or you will be assessed the applicable account transfer fee (Capital Credit Union's current fee schedule is available upon request; click here to contact us), the overage will be moved into your S1 account, and you will forfeit the interest earned on the overage. Unless the member specifies otherwise, after the term of the Combo CD, the Combo CD deposit will transfer into the next lower term CD account. The Combo Savings deposit will transfer into an S1 account.