Share Account Type

Account Suffix ID

Type ID

Term
(mos.)

Minimum Balance Required to Earn Dividends

Compound Frequency

Annual Percentage Yield

APY*

(Effective July 01, 2017)

Share

S000-S009

00

N/A

$250.00

Quarterly

0.10%

 

Draft (Checking)

S010-S019

10

N/A

$0.00

Quarterly

0.00%

 

IRA

S020-S029

20

N/A

$250.00

Quarterly

0.10%

 

Christmas Club

S061

61

N/A

$100.00

Quarterly

0.10%

 

Club

S062-S069

62

N/A

$100.00

Quarterly

0.10%

 

(Effective July 01, 2017)

Share Certificate

S070-S089

70

6

$1,000.00

Quarterly

0.60%

 

Share Certificate

S070-S089

71

12

$1,000.00

Quarterly

1.00%

 

Share Certificate

S070-S089

72

24

$1,000.00

Quarterly

1.50%

 
               

IRA Share Certificate

S090-S099

90

6

$1,000.00

Quarterly

0.60%

 

91

12

$1,000.00

Quarterly

1.00%

 

92

24

$1,000.00

Quarterly

1.50%

 
  • Dividend rates are subject to change without notice.
  • Anticipated dividend rates are quoted as Annual Percentage Rates (APR) with the resulting Annual Percentage Yield (APY).
  • Dividends are declared by the AB&W Credit Union's Board of Directors during the last month of the quarter for that quarter and are based upon the net earnings of AB&W Credit Union.
  • Dividends are calculated on the average daily balance in your account during the quarter being calculated.  The average daily balance is increased the day you make a deposit and is decreased the day you make a withdrawal.
  • Dividends are compounded and credited to your account quarterly on March 31st, June 30th, September 30th and December 31st.
  • Accrued dividends will not be paid if the account is closed prior to the end of the quarterly dividend period.
  • There are four quarterly dividend periods during a calendar year which are:
    • January 1st through March 31st
    • April 1st through June 30th
    • July 1st through September 30th
    • October 1st through December 31st

 


Fees & Charges

There will be a One dollar ($1.00) charge for each time a transfer is made to a Share Draft (checking) account from any other account when the purpose is to cover an overdraft.

When an item is deposited to your account and is returned for any reason, there will be a Twenty dollar ($20.00) charge.

When mail is returned because you did not notify the Credit Union of a change of address there will be a Five dollar ($5.00) mail charge.

If a Share draft (checking) account is overdrawn there will be a Twenty Five dollar ($25.00) charge. An additional Ten dollar ($10.00) charge will be made when the draft (check) is returned. Therefore, a total charge of Thirty five ($35.00) will be imposed.

Christmas Club Accounts are available for the purpose of saving for the expense of Christmas and will automatically be transferred to your Share Account on November 1st of each calendar year. A Twenty dollar ($20.00) charge will be made for each withdrawal other than the automatic transfer on November 1st.

A SUBSTANTIAL PENALTY IS IMPOSED if Share Certificate funds other than dividends are withdrawn before the maturity date. Then penalty is the amount of dividends since the date of issuance or renewal, or 90 days dividend, whichever is the lesser amount.

Share Certificates will automatically renew on the date of maturity unless you advise otherwise. There is NO grace period, after your certificate has renewed, to make withdrawals without penalty.

Please ask for our "SCHEDULE OF FEES AND CHARGES" for any other charges that may apply.