Shares Accounts

Olympia Credit Union

Truth In Savings Rate Schedule

Savings:
  Divendend Rate* Annual Percentage Yield* Compounded/Credited
Minimum Opening Deposit: $25.00 0.00% 0.00%  
$50.00-OVER 0.85% 0.85% Monthly
Effective April 9, 2008

* All rates are subject to change without notice. For current rate information please call 360-754-5559 or 800-550-5559.



Money Market Fund: **
  Divendend Rate* Annual Percentage Yield* Compounded/Credited
Minimum Opening Deposit: $1000.00      
$1000-$4999 1.50% 1.51% Monthly
$5000-$24,999 1.75% 1.76% Monthly
$25,000-OVER 2.25% 2.28% Monthly
Effective May 1, 2008

**If account balance falls below $1,000.00 a fee will be assessed and the remaining funds transferred to regular savings.



~ Term Share Certificates: •
  Divendend Rate* Annual Percentage Yield* Compounded/Credited
Minimum Opening Deposit: $500.00      
3-5 Month 2.35% 2.37% Monthly
6-12 Month 3.00% 3.04% Monthly
13-24 Month 3.05% 3.09% Monthly
25-36 Month 3.10% 3.14% Monthly
37-48 Month 3.25% 3.30% Monthly
49-60 Month 3.50% 3.56% Monthly
Effective April 9, 2008
~ Rates listed are for Sapphire relationship status: Sapphire status is 4 - 6 of the following ACTIVE services: Checking, Direct Deposit, Visa Debit Card, Bill payer, Certificate, IRA account, Visa CREDIT card, Consumer loan, 1st Mortgage, 2nd Mortgage, Safe Deposit Box, e-statements, Vacation / Holiday Club acccount, Mbr longevity (for every 10 years = 1 service). Topaz relationship reduces the earning rate by .50% which is 1 - 3 of the listed services. Emerald relationship adds .50% to the above rates which is (7) or more of the listed services.
• Substantial Penalty for early withdrawal.

* All rates are subject to change without notice. For current rate information please call 360-754-5559 or 800-550-5559.



IRA Share:
  Divendend Rate* Annual Percentage Yield* Compounded/Credited
  1.25% 1.26% Monthly
Effective April 9, 2008


~ Term IRA Share Certificates: •
  Divendend Rate* Annual Percentage Yield* Compounded/Credited
Minimum Opening Deposit: $500.00      
13-24 Month 3.05% 3.09% Monthly
25-36 Month 3.10% 3.14% Monthly
37-48 Month 3.25% 3.30% Monthly
49-60 Month 3.50% 3.56% Monthly
Effective April 9, 2008
~ Rates listed are for Sapphire relationship status: Sapphire status is 4 - 6 of the following ACTIVE services: Checking, Direct Deposit, Visa Debit Card, Bill payer, Certificate, IRA account, Visa CREDIT card, Consumer loan, 1st Mortgage, 2nd Mortgage, Safe Deposit Box, e-statements, Vacation / Holiday Club acccount, Mbr longevity (for every 10 years = 1 service). Topaz relationship reduces the earning rate by .50% which is 1 - 3 of the listed services. Emerald relationship adds .50% to the above rates which is (7) or more of the listed services.
• Substantial Penalty for early withdrawal.

* All rates are subject to change without notice. For current rate information please call 360-754-5559 or 800-550-5559.



Vacation / Christmas Club:
  Divendend Rate* Annual Percentage Yield* Compounded/Credited
  1.00% 1.01% Monthly
Effective April 9, 2008


Dividend And Balance Information


Prime Savings:
  Computed Paid •Minimum Balance **Minimum Average Daily Balance
Regular Savings Daily Monthly 25.00 50.00*
Golden Savings Daily Monthly 25.00 50.00*
Premier Club Daily Monthly 25.00 50.00*
Organization/Assoc. Savings Daily Monthly 25.00 50.00*
Kids Club Savings Daily Monthly 5.00 5.00*
Platinum Savings Daily Monthly 2,000.00 50.00*
Teen Savings Daily Monthly 5.00 5.00*
Uniform Transfer to Minor's Daily Monthly 5.00 5.00*
Trust Savings Account Daily Monthly 25.00 50.00*
Business Savings Daily Monthly 25.00 50.00*
Revised January 30, 2006
• Minimum balance to avoid fees.
** Minimum average daily balance to obtain APY.

* Minumum balance to open account.


Additional Savings:
  Computed Paid •Minimum Balance **Minimum Average Daily Balance
Special Savings Daily Monthly 00.00 5.00*
Christmas Club Daily Monthly 00.00 25.00
Vacation Club Daily Monthly 00.00 25.00
Revised January 30, 2006
• Minimum balance to avoid fees.
** Minimum average daily balance to obtain APY.

* Minumum balance to open account.



Individual Retirement Accounts:
  Computed Paid •Minimum Balance **Minimum Average Daily Balance
Individual Retirement Account Daily Monthly 00.00 00.00
SEP-IRA (Self Employed) Daily Monthly 00.00 00.00
Term IRA - 13-60 Month Daily Monthly 500.00 500.00*
Revised January 30, 2006
• Minimum balance to avoid fees.
** Minimum average daily balance to obtain APY.

* Minumum balance to open account.



Term Share Certificates:
  Computed Paid •Minimum Balance **Minimum Average Daily Balance
3-60 Month Term Share Daily Monthly 500.00 500.00*
Revised January 30, 2006
• Minimum balance to avoid fees.
** Minimum average daily balance to obtain APY.

* Minumum balance to open account.

 

Dividend Calculations:

 

Dividends are calculated by the average daily balance method which applies a periodic
rate to the average daily balance in the account for the period. The average daily balance
is calculated by adding the balance in the account for each day of the period and dividing
that figure by the number of days in the period. Dividends accrue on cash and non-cash
(check) deposits on the business day you make the deposit to your account.


Dividends are determined by the Credit Union’s Board of Directors and are paid from
current income and available earnings after required transfers to reserves at the end of the
dividend period. The dividend period for each account is the same as the compounding
and crediting period set forth previously in this disclosure. The dividend period begins
on the first calendar day of each period, and ends on the last calendar day of the period.
The APY assumes that dividends remain on deposit until maturity. Withdrawals or
transfer of dividends will reduce the APY. Accrued dividends will not be paid on
accounts closed prior to dividend payment date. For current dividend information please
call 754-5559 or 800-550-5559.


Term Share Account Information:


Certificates with 24 month or less term may be deposited to throughout the term.

The Credit Union will give the owner(s) at least 30 days notice prior to maturity. The
notice will inform the owners of the terms, if any, under which the Credit Union proposes
to renew the Share Certificate.

The Share Certificate may be closed without a penalty within the seven (7) day grace
period following renewal, with the date of renewal being day one of the grace period.

The penalty for early withdrawal is:

3-6 month Term Certificate penalty of 3 months of dividends
7-12 month Term Certificate penalty of 6 months of dividends
13 months and over Term Certificate penalty of 9 months of dividends

Term Share Accounts evidenced by a Term Share Certificate, excluding IRA Certificates,
may be pledged as collateral security for any loan or loans with Olympia Credit Union
only, subject to its then existing rules and regulations, by any or all of the owners, which
shall be effective against all of them.

The Certificate is non-negotiable and non-transferable and may not be pledged, assigned or transferred to
any party other than Olympia Credit Union.
 

 

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