|Current Loan Rates|
|Secured Loans (Maximum loan amount $200,000)||3.25% – 17.99% APR*|
|Signature||12.49% – 17.99% APR*|
|Line of Credit||10.49% – 17.99% APR*|
|MasterCard||Variable 9.99% – 17.99% APR*|
|Share Secured/ Certificate/ Severance||3% above APY|
|1st Mortgage||See Mortgages|
|2nd Mortgage Owner Occupied||5.00% APR** 80% RMV 180 months|
|Home Equity LOC Fixed for Five 5 year Draw & 15 year repay||variable 5.00% APR*** 80% RMV|
|Unimproved Property||9.625% – 14.625% APR* 50% of Appraisal|
*Annual Percentage Rates (APRs) shown are a range of APR’s offered. Actual APR approved based on member’s credit score and credit qualifications. Some restrictions may apply. The maximum loan rate is 17.99%. Rates current as of 04/20/2018. The Credit Union may offer other promotions in the future. Real Estate rates subject to change daily.
Maximum unsecured loan to any one member is $10,000.00. Maximum secured loan to any one member is $500,000.00. Loan and terms are subject to credit approval.
**Real Estate Secured fixed rate loans require a minimum 1% loan fee and closing costs, which will increase the APR. Loan and terms are subject to credit approval. Rates and terms are subject to change without prior notice. All Real Estate loans over $100,000.00 may require an appraisal. Maximum Loan $500,000.00. Some restrictions apply. For example, on a 60 month Second Mortgage there would be 60 monthly payments of $18.36 per $1,000.00 borrowed. Please contact the loan department for details. Equal Housing Opportunity.
***APR shown is for 1st & 2nd Trust Deed HELOC’s. Rate is fixed for 5 years and tied to an index. Credit Union has option of extending initial 5 year draw period another 5 years. After initial 5 year period, rate will then be variable out to 180 months. Rate cannot exceed 18% APR. Minimum payment during draw period is 1% of outstanding balance. Minimum payment during fixed payments is $50.00. Appraisal may be required. Equal Housing Opportunity.
|Interest Rates and Interest Charges|
|Annual Percentage Rate (APR) for Purchases||9.99% – 17.99% When you open your account, the applicable APR based on creditworthiness.|
|APR for Cash Advances & Balance Transfers||9.99% – 17.99% When you open your account, the applicable APR based on creditworthiness.|
|How to Avoid Paying Interest on Purchases||Your due date is approximately 25 days after the close of each billing cycle. We will not charge any interest on the portion of the purchases balance that you pay by the due date each month.|
|For Credit Card Tips from the Federal Reserve Board||To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore|
|Cash Advance Fee||None|
|Late Payment Fee||$10|
|Card Replacement Fee||$25|
|Returned Check Fee||$30|
Foreign Transaction Fee
|Up to 1% of the US dollar amount of the foreign transaction|
See the MasterCard Credit Card Agreement for complete terms.
How We Will Calculate Your Balance: We use a method called “average daily balance” (including new purchases). We reserve the right to amend the MasterCard Credit Card Agreement as permitted by law. The above rates and fees are current as of 04/01/2018.
This Rate and Fee Schedule sets forth current conditions, rates, fees and charges applicable to your Savings, Checking and Certificate Accounts at Teamsters Council #37 Federal Credit Union at this time. The Credit Union may offer other rates and fees or amend the rates and fees contained in this schedule from time to time. Each account holder agrees to the terms set forth on this Rate and Fee Schedule and acknowledges that it is a part of the Account Agreement.
Effective Date: 01/01/2018
|Rate & Fee Schedule Savings, Checking, & Certificate Accounts|
|Dividend Rate||Annual Percentage Yield||Minimum Opening Balance||Minimum Required Balance||Dividend Compounded
|Hi-Yield Money Market||.05%
|IRA-Traditional, Roth & Educational||.40%||.40%||$25||$25||Quarterly||Quarterly|
Truth In Savings Disclosures
Except as specifically described, the following disclosures apply to all of the accounts:
1. Rate Information. The Dividend Rate and Annual Percentage Yield on your accounts are set forth above. The Dividend Rate and Annual Percentage Yield may change monthly for Hi-Yield Money Market and quarterly for Share, Severance, and IRA Accounts as determined by the Board of Directors. The Hi-Yield Money Market is a tiered rate account. The Dividend Rates and Annual Percentage Yields applicable to the account depends on the balance range as set forth above. Each Dividend Rate will apply only to that portion of the account balance with each tier. For Certificate accounts, the Dividend Rate and Annual Percentage Yield are fixed and will be in effect for the term of the account. For Certificate accounts, the Annual Percentage Yield is based on an assumption that dividends will remain on deposit until maturity. A withdrawal will reduce earnings. IRA Accounts are a Variable Rate Certificate, Rates change Quarterly.
2. Nature of Dividends. For Share, Severance, Hi-Yield Money Market and IRA Savings accounts, dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period. The Dividend Rate and Annual Percentage Yield set forth above are the prospective rates that the Credit Union anticipates paying for the applicable dividend period.
3. Compounding and Crediting. Dividends will be compounded and credited as set forth above. For dividend bearing accounts, the Dividend Period begins on the first calendar day of the quarter and ends on the last calendar day of the quarter.
4. Accrual of Dividends. Dividends will begin to accrue on noncash 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.
5. Balance Information. The minimum balance required to open each account is set forth above. For all accounts, dividends are calculated by the average daily balance method. Dividends are calculated by applying a periodic rate to the average daily balance in the account for the Dividend Period. The average daily balance is determined by adding the full amount of principal in the account for each day of the period and dividing that figure by the number of days in the period. For Share and Hi-Yield Money Market accounts, there is a minimum daily balance requirement to earn dividends and obtain the stated Annual Percentage Yield as set forth above.
6. Transaction Limitations. For Share accounts, transaction limitations will apply. No more than six (6) preauthorized, automatic, telephone transfers may be made from these accounts to another account of yours or to a third party in any month, and no more than three (3) of these six (6) transfers may be made by check, draft, or debit card to a third party. If you exceed these limitations, your accounts may be subject to a fee or be closed.
7. Certificate and IRA Account Features.
d. Renewal Policy. All Certificate and IRA Accounts are automatically renewable accounts. You have a grace period of seven (7) business days after maturity in which to withdraw the funds in the account without being charged an early withdrawal penalty.
e. Nontransferable/Nonnegotiable. Your account is nontransferable and nonnegotiable. The funds in your account may not be pledged to secure any obligation of an owner, except obligations with the Credit Union.
|Fee Schedule Checking/ATM/ACH/Debit Card Account Fees|
|Free Checking||$0.00 Per Month|
|Non-Sufficient Funds (NSF) Fee or returned item fee||$30.00 Per Item|
|Stop Payment||$30.00 Per Item|
|ACH origination set-up fee (outbound)||$25.00 each time|
|Overdraft transfer from another account||$5.00 Per Transaction|
|Check Copy||$5.00 Per Copy|
|Account Closure Fee||$25.00|
|Check Printing||Prices Depend on Style|
|Counter checks (page of 3)||$5.00|
|Stop Payment on a Credit Union Check||$30.00|
|Regular Share Account Fees|
|Early Closure (within 6 mos.)||$5.00|
|Minor Early Closure (within 6 mos.)||$5.00|
|Address Change: Not originated by member||$3.00|
|Credit Union Check Withdrawal Made Payable to Member||1 Free per day ($1.25 addt’l)|
|MasterCard Card Replacement||$25.00|
|MasterCard Statement Copy||$10.00|
|Credit Union Membership|
|Membership Share (under age 15 $5.00)||$5.00 Per Value|
|Membership Fee (waived if under age 15)||$5.00|
|Account Print Out||$3.00|
|Return Deposit Item||$30.00|
|Ach Authorization revoked (per item)||$30.00|
|Dormant Account||$20.00 Per Year|
|Cashier’s Check||$7.00 Per Check|
|Wire Transfer – (Incoming)||$15.00|
|Wire Transfer – (Outgoing)||$20.00|
|Account Reconciliation / Research||$30.00 Per Hour|
|Statement Copy||$5.00 Per copy|
|Hand Posted Electronic Funds Transfer||$5.00|
|ACH Change Fee||$5.00|
|Written payoff request for mortgages||$50.00|
|Non-member check cashing fee||$5.00|
|Blue Pay Processing Fee||$10.00 or 3% of transaction whichever is greater|
The rates and fees appearing in this schedule are accurate and effective for Savings, Checking, and Certificate accounts as of the Effective Date indicated above. If you have any questions or require current rate information on your accounts, please contact us.
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