Build a Dream Savings Club

Peak tiered savings account

1. Rate Information. The Annual Percentage Yield (APY) is a percentage rate that reflects the total amount of interest to be paid on an account based on interest rate and frequency of compounding for an annual period. The APY is based on an assumption that all interest will remain on deposit until maturity. A withdrawal of interest will reduce earnings. Club account rates are subject change without notice. Interest is paid from current income and available earnings after required transfers to reserves at the end of the interest period. For all accounts, interest will begin to accrue on the business day you make the deposit to your account.

2. Maturity. Your account will mature as indicated on this Truth-In-Savings Disclosure, your account receipt, renewal notice, or evidence of certificate. Members can choose the initial maturity date to coincide with a savings goal date even if less than a month.

3. Renewal. Your account will renew automatically for the same term upon maturity at the rate offered at that time or funds can rolled to another account. You have a grace period of 10 days after maturity to withdraw funds or change investment terms without incurring an early withdrawal penalty.

4. Early Withdrawal Penalty. A $1 withdrawal fee and a $10 account closure fee apply (unless within the 10-day grace period).

At our option, we may pay the account before maturity with no early withdrawal penalty under the following circumstances:
1) When an account owner dies or is determined legally incompetent by a court
2) When the balance of the account meets or exceeds $2500.00 if it is transferred to a On Tap Credit Union Money Market or Traditional Certificate.

5. Account is Nontransferable/Nonnegotiable The funds in your account may not be pledged to secure any obligation of an owner, except to satisfy obligations with On Tap Credit Union; including use as collateral for a loan with On Tap Credit Union.

1. Rate Information. The annual Percentage Yield (APY) is a percentage rate that reflects the total amount paid on an account based on the Dividend Rate and the frequency of compounding for an annual period. The Dividend Rate may change monthly as determined by the Credit Union Board of Directors. The Dividend Rates and Annual Percentage Yields are the prospective rates and yields that the Credit Union Anticipates paying for the applicable dividend period.

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.

3. Dividend Compounding and Crediting. The compounding and crediting of dividends and dividend period are set forth above. 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. 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.

5. Balance Information. To open any account, you must deposit or already have on deposit at least the par value of one full share in any account as well as at least the par value of one full share in a Share Account. The par value amount is stated in the Rate Schedule above. For the above accounts, a minimum daily balance is required for the dividend period. If the minimum balance is not met, there will be a service fee as set forth above. If the Minimum Daily Balance is not met, you will not earn the stated Annual Percentage Yield.

6. Account Limitations. No more than six (6) withdrawals are allowed during a dividend period. If you exceed these limitations, your account may be subject to a fee or be closed. Fees may reduce earnings.

1. Rate Information. The Annual Percentage Yield (APY) is a percentage rate that reflects the total amount of interest to be paid on an account based on interest rate and frequency of compounding for an annual period. The APY is based on an assumption that all interest will remain on deposit until maturity. A withdrawal of interest will reduce earnings. For certificates, the rate and APY are fixed and will stay in effect for the term of the account.

2. Nature of Dividends. Interest is paid from current income and available earnings after required transfers to reserves at the end of the interest period. For all accounts, interest will begin to accrue on the business day you make the deposit to your certificate.

3. Maturity. Your account will mature as indicated on this Truth-In-Savings Disclosure, your account receipt, renewal notice, or evidence of certificate.

4. Renewal. Your account will renew automatically for the same term upon maturity. You have a grace period of 10 days after maturity to withdraw funds or change investment terms without incurring an early withdrawal penalty.

5. Early Withdrawal Penalty. Withdrawals of interest are allowed during term of certificate without penalty. A penalty will be imposed if you withdraw the principal before the certificate maturity date. The penalty is calculated as a forfeiture of interest that has been or would be earned on the account. If the account has not yet earned enough interest, the penalty will be deducted from the principal.

The penalty schedule is as follows:

Term of 3 months: 30 days interest

Term of 6-24 months: 90 days interest

Term of 30-60 months: 120 days interest

At our option, we may pay the account before maturity with no early withdrawal penalty under the following circumstances:
1) When an account owner dies or is determined legally incompetent by a court.
2) When the account is an IRA or Keogh and the owner attains age 59 ½ or becomes disabled.
3) When the account is an IRA and any portion is paid within 7 days after establishment or if the account is a Keogh, provided that the depositor forfeits an amount equal to or greater than the simple interest earned in the amount withdrawn.

6. Account is Nontransferable/Nonnegotiable. The funds in your account may not be pledged to secure any obligation of an owner, except to satisfy obligations with On Tap Credit Union®.

1. Rate Information. The Annual Percentage Yield (APY) is a percentage rate that reflects the total amount of interest to be paid on an account based on interest rate and frequency of compounding for an annual period. The APY is based on an assumption that all interest will remain on deposit until maturity. A withdrawal of interest will reduce earnings. For certificates, the rate and APY are fixed and will stay in effect for the term of the account.

2. Nature of Dividends. Interest is paid from current income and available earnings after required transfers to reserves at the end of the interest period. For all accounts, interest will begin to accrue on the business day you make the deposit to your certificate.

3. Maturity. Your account will mature as indicated on this Truth-In-Savings Disclosure, your account receipt, renewal notice, or evidence of certificate. You have a grace period of 10 days after maturity to withdraw funds or change investment terms without incurring an early withdrawal penalty.

4. Renewal. Your account will renew automatically for the same term upon maturity.

5. Early Withdrawal Penalty. A penalty will be imposed if you withdraw the principal before the certificate maturity date. The penalty is calculated as a forfeiture of interest that has been or would be earned on the account. If the account has not yet earned enough interest, the penalty will be deducted from the principal.

At our option, we may pay the account before maturity with no early withdrawal penalty under the following circumstances:
1) When an account owner dies or is determined legally incompetent by a court

6. Account is Nontransferable/Nonnegotiable The funds in your account may not be pledged to secure any obligation of an owner, except to satisfy obligations with On Tap Credit Union®.