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Truth in Savings

Primary Shares, Additional Shares, and Money Market Accounts

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

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 the interest rate and compounding frequency for an annual period (one full year). For all accounts, the interest rate and APY are fixed and will be in effect for the term of the account. For accounts subject to interest compounding, the APY is based on an assumption that interest will remain on deposit until maturity. A withdrawal of interest will reduce earnings.

Interest Compounding and Crediting

The compounding and crediting of interest applicable to each account is set forth in the rate schedule.

Balance Information

The minimum balance requirements applicable to each account are set forth in the rate schedule. For all accounts, interest is calculated by the average daily balance method, which applies a daily periodic rate to the principal in the account each day.

Accrual of Interest

For all accounts, interest will begin to accrue on non-cash deposits (e.g., checks) on the business day you make the deposit to your account. For all accounts, if you close your account before accrued interest is credited, accrued interest will not be paid.

Transaction Limitations

  • Additional deposits: allowed
  • Withdrawals: Allowed—limited on Money Market Accounts*
  • Renewable: N/A

Non-transferable and Non-negotiable: Your account is neither transferable nor negotiable. The funds in your account may not be pledged to secure any owner's obligations, except obligations with Northern Colorado Credit Union.

*Money Market Accounts allow only six (6 )withdrawals per month. The first three (3) withdrawals are free and the next three (3) are assessed a $10.00 fee. The account may be automatically closed if there are more than six (6 )withdrawals per month.

Regular and IRA Share Certificates of Deposit

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

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 the interest rate and compounding for an annual period (one full year). For all accounts, the interest rate and APY are fixed and will be in effect for the term of the account. For accounts subject to interest compounding, the APY is based on an assumption that interest will remain on deposit until maturity. A withdrawal of interest will reduce earnings.

Interest Compounding and Crediting

The compounding and crediting of interest applicable to each account is set forth in the rate schedule.

Balance Information

The minimum balance requirements applicable to each account are set forth in the rate schedule. For all accounts, interest is calculated by the average daily balance method, which applies a daily periodic rate to the principal in the account each day.

Accrual of Interest

For all accounts, interest will begin to accrue on non-cash deposits (e.g., checks) on the business day you make the deposit to your account(s). If you close your account(s) before accrued interest is credited, accrued interest will not be paid.

Transaction Limitations

  • Additional deposits: Not allowed
  • Withdrawals: Allowed with penalty
  • Renewable: Automatic

Renewal Policy

Each account will automatically renew for the same term and market rate at maturity. For all accounts, you have a grace period of ten (10) days after maturity in which to withdraw funds from the account without being charged a penalty.