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Truth in Savings Account Disclosure

Except as specifically described, the following disclosures apply to all of the accounts.

  1. Rate Information. The Annual Percentage Yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. For all accounts, the Dividend Rate and Annual Percentage Yield may change at any time as determined by the Credit Unionís Board of Directors. The Savings Share, Escrow Share, and Christmas Club accounts are Tiered Rate accounts. If your account balance is $50.99 or below, the first Dividend Rate and Annual Percentage Yield listed for the account in the Rate Schedule will apply. If your account balance is from $51.00 to $100.99, the second Dividend Rate and Annual Percentage Yield listed for the account will apply. If your account balance is greater than $100.99, the third Dividend Rate and Annual Percentage Yield listed for the account will apply. Once a particular balance range is met, the Dividend Rate and Annual Percentage Yield for that balance range will apply to the full balance of your account.
  2. Nature of Dividends. Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period. The Dividend Rates and Annual Percentage Yields are the prospective rates and yields that the Credit Union anticipates paying for applicable dividend period.
  3. Dividend Compounding and Crediting. 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 at the end of which an account earns dividend credit. The Dividend Period begins on the first calendar day of the period and ends on the last calendar day of the period.
  4. Accrual of Dividends. For all accounts, dividends will begin to accrue on non cash deposits (e.g. checks) on the business day you make the deposit to your account.
  5. Balance Information. The minimum balance requirements applicable to each account are set forth in the Rate Schedule. For Savings Share, Money Fund Share, Christmas Club, and Checking Share Accounts, there is a minimum daily balance required to obtain the Annual Percentage Yield for the dividend period. If the minimum daily balance is not met, you will not earn the state Annual Percentage Yield. For all accounts using a Daily Balance method, dividends are calculated by applying a daily periodic rate to the principal in the account each day.
  6. Account Limitations. For all accounts, no account limitations


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This Policy is handed out during account opening.
A printed copy can be sent upon request or if a change is made to the existing policy.

Terms & Conditions
Please contact us with any questions or comments:
Phone: (412) 461-3018 | Fax: (412) 461-0842| Email: info@triboro-fcu.org