Except as specifically described, the following disclosures apply to all accounts.
The Annual Percentage Yield reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency on compounding for an annual period. For all accounts, the Dividend Rate and APY may change monthly as determined by E1CU’s Board of Directors.
Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period. The Dividend Rages and APY are the protective rates and yields that the credit union anticipates paying for the applicable period.
The compounding and crediting of dividends and dividend period applicable to each account are set forth in the Rate Schedule. The Dividend Period is the period of time of the end of which an account earns dividends credit. The Dividend Period begins on the first calendar day of the period and ends on the last calendar day of the period.
Dividends will begin to accrue on non cash deposits (e.g. checks) 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.
The minimum balance requirements are set forth in the Rate Schedule. For share, auxiliary savings accounts, and premier checking accounts, there is a minimum daily balance required to obtain the APY. Dividends are calculated by applying a daily periodic rate to the principle in the account for each day.
For share and super saver accounts, no more than 6 pre-authorized, automatic, or telephone transfers may be made from these accounts to another of yours or to a third party in a month, and no more than 3 of these 6 transfers may be made by check, draft, or debit card to a third party. There is no fee for exceeding these limitations. For regular checking, no account limitations apply.
Please call (801) 392-4877 to check current rates on: