Truth In Savings
Except as specifically described, the following
disclosures apply to all of the accounts. All
accounts described in this Truth-in-Savings
Disclosure are share 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 Share Savings, Johnny
Appleseed Savings Club For Children, IRA,
Christmas Club, Money Market Checking and
Guardian Checking accounts, the Dividend Rate and
Annual Percentage Yield may change at any time as
determined by the Credit Union's Board of Directors.
The Dividend Rates and Annual Percentage Yields
are the rates and yield as of the last dividend
declaration date, which is set forth in the Rate
Schedule. The Money Market Checking account is
a Tiered Rate account. If your Daily Balance is from
$1.00 to $9,999.99, the first Dividend Rate and
Annual Percentage Yield listed for this account in
the Rate Schedule will apply. If your Daily Balance is from $10,000.00 to
$24,999.99, the second
Dividend Rate and Annual Percentage Yield listed for
this account will apply. If your Daily Balance is
from $25,000.00 to $49,999.99, the third Dividend
Rate and Annual Percentage Yield listed for this
account will apply. If your Daily Balance is from
$50,000.00 to $74,999.99, the fourth Dividend
Rate and Annual Percentage Yield listed for this
account will apply. If your Daily Balance is
$75,000.00 or greater, the fifth Dividend Rate and
Annual Percentage Yield listed for this account will
apply. Once a particular 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.
3. Dividend Compounding and Crediting.
The
compounding and crediting frequency of dividends
and dividend period applicable to each account are
stated 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 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, you will not receive the accrued dividends.
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 a Share Savings
account. The par value amount is stated in the Fee
Schedule. Some accounts may have additional
minimum opening deposit requirements. The
minimum balance requirements applicable to each
account are stated in the Rate Schedule. For
Money Market Checking and Guardian Checking
accounts, there is a minimum Daily Balance
required to avoid a service fee for the dividend
period. If the minimum daily balance is not met during each day of the
dividend period, there will be a service fee as
stated in the Rate Schedule. For
Money Market Checking, and Guardian Checking
accounts, there is a minimum Daily Balance required
to earn the Annual Percentage Yield disclosed for
the dividend period. If the minimum daily balance is
not met each day of the dividend period, you will
not earn the stated Annual Percentage Yield. For
accounts using the Daily Balance method as stated
on the Rate Schedule, dividends are calculated by
applying a daily periodic rate to the balance in the
account each day.
6. Account
Limitations.
For Share Savings, Johnny
Appleseed Savings Club For Children, IRA and
Money Market Checking accounts, no more than six
(6) pre-authorized, automatic, or telephone transfers
may be made from each account to another account
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 account may be
subject to a fee or be closed. For Christmas Club
accounts, the entire balance will be transferred to
another account of yours on the first business day
of November and the account will remain open.
You may not make withdrawals from your
Christmas Club accounts at any other time. If you
wish to access the funds in your Christmas Club
accounts you may close it. For Guardian Checking,
Pacesetter Checking, Prestige Checking and
Freedom Checking accounts, no account limitations
apply.
7. Fees for
Overdrawing Accounts.
Fees may be
imposed on each check, draft, item, ATM card
withdrawal, debit card point of purchase,
preauthorized automatic debit, telephone initiated
withdrawal or any other electronic withdrawal or
transfer transaction that is drawn on an insufficient
available account balance. The entire balance in
your account may not be available for withdrawal,
transfer or paying a check, draft or item. You may
consult the Funds Availability Policy for information
regarding the availability of funds in your account.
Fees for overdrawing your account may be imposed
for each overdraft, regardless of whether we pay or
return the draft, item or transaction. If we have
approved an overdraft protection limit for your
account, such fees may reduce your approved limit. Please refer to the Fee Schedule for
the current information.
Fee Schedule
Money Market Checking Account
Fees
-Minimum Balance $10.00/month if minimum daily balance
is not met.
-Excess Withdrawal $20.00/item after 6 per month
Guardian Checking Account Fees
-Minimum Balance $7.00/Month if minimum daily balance
is not met.
Share Savings Account Fees
-Excess Withdrawal $3.00/withdrawal after 6 per month
Johnny Appleseed Savings
Account Fees
-Excess Withdrawal $3.00/Month after 6 per month
Checking Account Fees
-Overdraft $3.00/Item
-NSF $22.00/Item
-Overdraft Privilege $22.00/Item
-Stop Payment $20.00/Request
Other Service Fees
-Gift Checks $2.00/Check
-Items Sent for Collection $10.00/Item
-Wire Transfer (Outgoing) $15.00/Transfer
-Corporate Check $2.00/Check
-Money Order $1.00/Money Order
-Travelers Check $1.00/$100.00
-Travelers Check for Two $2.00/$100.00
-Account Reconciliations $10.00/Hour
$10.00 minimum charge
-Account Research/span> $15.00/Hour
$15.00 minimum charge
--Statement Copy $5.00/Copy
-Deposited Item Return $10.00/Item
-Legal Process/span> $15.00 (Copy of Check) $2.00/check
-Online Bill Payment FREE!
-Non-sufficient Item $22.00/Item
EFT Feeso<:p>
-ATM Transaction $1.00/Transaction at
ATMs not owned by
the credit union
-ATM Withdrawal $3.00/Withdrawal
after 6 per month
-ACH Overdraft $22.00/Item
-Debit Card Overdraft $22.00/Item
-Overdraft Transfer $3.00/Transfer
-Express Card/ PIN Delivery $75.00/Request
Share Value
-Par Value of One Share $5.00
To obtain a printed copy
of the information above, please send a request to:
Bossier Federal Credit
Union
PO Box 5635
Bossier City, La 71171
EEmail:
onlineservices@bossier.net
Phone: 318-742-4090
US Patriot Act
The USA Patriot Act requires
credit unions to take extra security precautions to help the government fight
the funding of terrorism and money laundering activities.
Federal law requires all financial institutions to obtain, verify, and
record information that identifies each person who opens an account.
These new procedures are designed to prevent crimes, such as identity
theft and account fraud that terrorists commit to finance their operations
against the U.S. and its citizens.
When an account is opened or
changed, you will be asked for your name, address, date of birth, and other
information that will allow us to identify you. We will also ask to see your driver’s license or other
identifying government issued documents.
The definition of an account covers a broad range of regular financial
transactions such as deposit, transaction, asset, or credit accounts or other
extensions of credit. The required
verification may be inconvenient for some but a strong deterrent for terrorists
and other criminals.
You can rest assured that we
will only request the information required by the law…and that we will use the
information only for purposes of complying with the law.
Your privacy is our top concern, and we will respect and protect it as
always, consistent with the law’s requirements.