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Account Disclosures

Address: Athens Area Credit Union • 112 Alfred Street, Athens, WI 54411
Phone: (715) 257-9337  «  Email: AACU01@athensareacu.com

Download:  Athens Area Credit Union Account Disclosures (PDF)

ATHENS AREA CREDIT UNION SHARE ACCOUNT DISCLOSURE

1. RATE INFORMATION: As of November 1, 2013, the dividend rate is .25% and the annual percentage yield (APY) is .25% on share accounts. The dividend rate and annual percentage yield may change every dividend period as determined by the credit union board of directors.

2. COMPOUNDING AND CREDITING: Dividends will be compounded quarterly and will be credited quarterly. For this account type, the dividend period is quarterly. For example, the beginning date of the first dividend period of the calendar year is January 1st and the ending date of such dividend period is March 31st. All other dividend periods follow this same pattern of dates. The dividend declaration date is the ending date of a dividend period, and for the example listed is March 31st.

3. BALANCE COMPUTATION METHOD: Dividends are calculated by the daily balance method which applies a daily periodic rate to the principal in your account each day.

4. ACCRUAL OF DIVIDENDS: Dividends will begin to accrue on the business day that your deposit is made to your account.

5. MINIMUM BALANCE REQUIREMENTS: The minimum balance to open this account is the purchase of a $5.00 share in the Credit Union.

6. TRANSACTION LIMITATIONS: The Federal Reserve Board’s Regulation D restricts the transfers and withdrawals from this type of account. Transfers from this type of account to another credit union account of yours may be made in person without limitation. Telephone transfers from this type of account to another credit union account are limited to six transactions per month. If you exceed the transfer limitations set forth by this policy, your account will be subject to closure by the credit union.

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

8. NATIONAL CREDIT UNION SHARE INSURANCE FUND: Member accounts in this Credit Union are federally insured by the National Credit Union Share Insurance Fund.

ATHENS AREA CREDIT UNION SHARE DRAFT ACCOUNT DISCLOSURE

1. RATE INFORMATION: As of November 1, 2013 the dividend rate is .20% and the annual percentage yield (APY) is .20% on share draft accounts. The dividend rate and APY may change every dividend period as determined by the credit union board of directors.

2. COMPOUNDING AND CREDITING: Dividends will be compounded monthly and will be credited monthly. The dividend period for this type of account is monthly, beginning on the first of the month and ending on the last day of the month.

3. BALANCE COMPUTATION METHOD: Dividends are calculated by the daily balance method which applies a daily periodic rate to the principal in your account each day.

4. ACCRUAL OF DIVIDENDS: Dividends will begin to accrue on the business day you deposit to your account.

5. MINIMUM BALANCE REQUIREMENTS: The minimum balance to open a share draft account is the purchase of a $5.00 share in the credit union.

6. FEES AND CHARGES: Effective 9/1/2011, the following fees may be assessed against your account:

  • a)  Phone transfers from shares to share draft – (max. 6/mo) – No Charge
    b)  Overdraft (NSF) Items-$25.00 per draft or item
    c)  Stop Payment Order-$15.00 per draft or item
    d)  Returned Deposited Item – $10.00
    e)  Copy of Original Canceled Draft- $ 2.00
    f)  Account Closing Fee (due to negligence of account owner)- $25.00
    g)  Check Printing Fee-Varies
    h)  Research Charge – $10.00 minimum
    i)  Re-create Monthly Statement – $ 1.00 per month

Other fees:

  • a) Wire Transfers: Incoming – $10.00 Outgoing – $20.00
    b) Faxed Items: Both incoming & outgoing – $ 1.00 per page
    c) Money Orders/Cashier’s Checks – $1.00 each
    d) Authorized Automatic Deposits – No Charge
    e) Authorized Automatic Withdrawal – No Charge
    f) Authorized Automatic Transfers – No Charge
    g) CoinandCurrency-NoCharge
    h) Garnishment/Levy Processing Fee – $20.00

7. TRANSACTION LIMITATIONS: No transaction limitations apply to this account.

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

9. NATIONAL CREDIT UNION SHARE INSURANCE FUND: Member accounts in this Credit Union are federally insured by the National Credit Union Share Insurance Fund.

ATHENS AREA CREDIT UNION HEALTH SAVINGS ACCOUNT DISCLOSURES

1. Health Savings Accounts are Non-dividend Share Draft accounts. Members may withdraw funds in cash, by check or debit card.

2. There are no restrictions on when and how often an HSA owner may take distributions from a Health Savings Account.

3. HSA owners are responsible for determining whether an HSA distribution is qualified or nonqualified.

4. FEES AND CHARGES: Effective 6/1/2014, the following fees may be assessed against your account:

  • a)  New Account Fee – $10.00
    b)  Annual Fee – $10.00 (This fee only applies if Health Savings Account is the member’s only transactional account.
    c)  Overdraft (NSF) – $40.00 per item
    d)  Stop Payment Order – $15.00 per item
    e)  Returned Deposited Item – $10.00
    f)  Copy of Original Canceled Draft – $ 2.00
    g)  Check Printing Fee – Varies
    h)  Debit Card Replacement – $5.00