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Members Enjoy Free Checking with a Share Draft Account!

 

For your convenience, we offer our members a "Share Draft" Account that provides members with the ability to write an unlimited number of "Share Drafts" (checks) from this account.  As part of this account, you may also request a Visa Debit Card to be used for purchases and cash advances using this account.  You may use your Visa Debit Card to make purchases or withdraw cash at any merchant or ATM anywhere that the "Visa" logo is displayed.  Direct Deposit and ACH transactions are also available with this account.

 

Members may open a Share Draft account at any time after opening a Share account with a minimum deposit requirement of $20.  There is no minimum balance requirement to open a share draft account.  Unlike many banks, there is no minimum balance requirement in order to avoid a service charge on this account.  

 

Dividends (interest) on your Share Draft account are compounded and credited quarterly on your average daily balance.

 

Members may reorder sharedrafts directly from Clarke American.  To reorder checks, simply click on the links page.  

 

Truth-In-Savings Disclosure Information

 

Share Draft Account

   All rates effective as of January 1, 2017.

Annual Percentage Yield

0.10 % APY

Dividends Compounded 

Quarterly

Dividends Credited

Quarterly

Dividend Period

Calendar Quarter

Minimum Opening Deposit

None

Minimum Balance to Avoid Service Charge

None

Minimum Balance to earn the Stated APY

None

Balance Method

Average Daily Balance

The dividend rate and annual percentage yield for Share Draft Accounts may change at any time, as determined by the credit union board of directors.  

 

Dividends will be compounded and credited to your account every calendar quarter.  Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.  Dividends will begin to accrue on the business day you place non-cash items (for example, checks) to your account.

 

For a complete disclosure of all terms and conditions associated with a deposit account, please request a copy of "Important Account Information for Our Members".

 

 


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