Rates
and Fees as of December 7, 2004
| Savings,
Checking, and Certificate
Rates |
Please select the
rates in which you are interested:
Note: The
fees for specific accounts are listed along with
the rates on this page. If you would like to see
a complete listing of Lincoln Goodyear Employees
Federal Credit Union fees, please click
here.
Effective
January, 1995, the Truth In Savings Act requires
Credit Unions to use standard calculations and
disclosures to enable members to comparison shop
for Credit Union products. We are providing the
following disclosure so that we may be in
compliance with this Act.
APY
= Annual Percentage Yield
All
rates subject to change without notice.
CERTIFICATE ACCOUNTS
Rates effective
December 7, 2004
| Available Terms |
APY |
Dividend Rate |
| 3 - 5 months |
1.25% |
1.24% |
| 6 - 11 months |
1.85% |
1.83% |
| 12 - 17 months |
2.25% |
2.23% |
| 18 - 23 months |
2.50% |
2.47% |
| 24 - 35 months |
3.05% |
3.01% |
| 36 months |
3.50% |
3.45% |
EARLY
WITHDRAWAL PENALTIES
We may impose a penalty if you withdraw any of
the principal in your account before the
maturity date. Penalties are calculated as
follows:
6 - 11,
12-17, 18, 23, 24 - 35, and 36 month
maturities
We may impose a penalty if you withdraw any of
the principal in your account before the
maturity date.
The penalty will equal 90 days dividend
on the amount withdrawn.
3
month maturities
We may impose a penalty if you withdraw any of
the principal in your account before the
maturity date.
The penalty will equal 30 days dividend
on the amount withdrawn.
RENEWAL
POLICIES
Your account will automatically renew on its
maturity date. There is a 10 day grace period
preceding and a 7 day grace period following the
maturity of this account.
BONUSES
There are no bonuses associated with this
account.
TRANSACTION
LIMITATIONS
After the account is opened, you may not make
deposits into the account until the maturity
date stated on the share certificate.
ACCRUAL OF
DIVIDENDS
Dividends will begin to accrue on the business
day you deposit non-cash items (e.g. share
drafts) to your account.
NATURE OF
DIVIDENDS
Dividends are paid from current income and
available earnings, after required transfers to
reserves at the end of a dividend period.
COMPOUNDING
AND CREDITING
Dividends will be compounded monthly and will be
credited to this share certificate account. The
dividend period is monthly.
MINIMUM
BALANCE REQUIREMENTS
The minimum balance required to open an account
is $500.00.
BALANCE
COMPUTATION METHOD
Dividends on this account are calculated on the
Daily Balance method. “Daily” means that a
daily periodic rate is applied to the principal
in the account each day.
FEES AND
CHARGES
The following fees and charges may be assessed
against your account:
There are no
other fees associated with this account.
PAR VALUE OF
SHARES; DIVIDEND PERIOD
The par value of a regular share in this Credit
Union is $5. The dividend period of the Credit
Union is (monthly), beginning on the first day
of the month and ending on the last day of the
month.
INSURANCE
Member accounts in this Credit Union are
federally insured by the National Credit Union
Share Insurance Fund.
Bylaw
Requirement
The credit union reserves the right, at any
time, to require members to give, in writing,
not more than 60 days notice of intention to
withdraw the whole or any part of the amounts
paid in by them except for those amounts paid into
share checking accounts.
No member may
withdraw shareholdings that are pledged as
required security on loans without the written
approval of a loan officer, except to the extent
that such shares exceed the member's total
primary and contingent liability to the credit
union.
No member may
withdraw any shareholdings below the amount of
his/her primary or contingent liability to the
credit union if he/she is delinquent as a
borrower, or if borrowers for whom he/she is a comaker, endorser, or guarantor are delinquent,
without the written approval of a loan officer.
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to top
MONEY MARKET
This
account is a Variable Rate Account. The Dividend
Rate and Annual Percentage Yield (APY) may
change daily. As of December 7, 2004, your Money Market Account
will earn dividends according to the following
schedule:
| Balance
Limits |
APY |
Dividend
Rate |
| $0.00
- $ 2,499.99 (aver. daily
balance) |
.50% |
.50% |
| $2,500.00
- $ 4,999.99 (aver. daily
balance) |
1.00% |
1.00% |
| $5,000.00
- $ 24,999.99 (aver.
daily balance) |
1.00% |
1.00% |
| $25,000.00
- $ 49,999.99 (aver.
daily balance) |
1.25% |
1.24% |
| $50,000.00
& greater (aver.
daily balance) |
1.25% |
1.24% |
Nature of
Dividends
Dividends are paid from current income and
available earnings, after required transfers to
reserves at the end of a dividend period.
Compounding
and Crediting
Dividends will be compounded monthly and
will be credited to your account monthly. If you
close this account before dividends are paid,
you will receive the accrued dividends.
Minimum
Balance Requirements
The minimum balance to open this account is
$2,500.00. If the balance falls below the
$2,500.00 minimum, you may be charged a fee as
shown under "Fees and Charges".
Balance
Computation Method
Dividends on this account are calculated using
the Average Daily Balance method. This method
applies a periodic rate to the average daily
balance in the account for the period. The
average daily balance is calculated by adding
the balance in the account for each day of the
period and dividing that figure by the number of
days in the period.
Date Dividends
Accrue
Dividends will begin to accrue on the
business day you deposit non-cash items to your
account.
Fees and
Charges
The following fees and charges may be assessed
against your account:
| Fees
for going below the $2,500 minimum |
$15.00
monthly |
| Withdrawals
or transfers above the six (6)monthly |
$
5.00
each |
| Check
withdrawals above three (3) monthly |
$
5.00
each |
| NSF
Drafts |
$15.00
each |
| NSF
Drafts Paid |
$15.00
each |
| Returned
Deposit Item |
$ varies* |
| Stop
Payment Order |
$18.00
each |
| Statement
Copies |
$
3.00
each |
| Microfilm
Copy of Check |
$
3.00
each |
| Account
Reconciliation Assistance |
$18.00
per hour |
|
|
| *Returned Deposits: |
|
|
For returned checks less than $500
|
$10 per item |
|
For returned checks $500.01 -
$2,500.00
|
$15 per item |
For returned
checks more than $2,500.01
|
$20 per item |
Transaction
Limitations
Up to six (6) transfers are permitted per month
at no charge, three (3) of which can be by check
(i.e. each withdrawal by check in excess of
three (3) per month is charged as shown in the
fee schedule). Each withdrawal or transfer in
excess of six (6) per month is charged as shown
under "Fees and Charges."
Insurance
Member accounts in this Credit Union are
federally insured by the National Credit Union
Share Insurance Fund.
Bylaw
Requirement
The credit union reserves the right, at any
time, to require members to give, in writing,
not more than 60 days notice of intention to
withdraw the whole or any part of the amounts
paid in by them except for those amounts paid into
share checking accounts.
No member may
withdraw shareholdings that are pledged as
required security on loans without the written
approval of a loan officer, except to the extent
that such shares exceed the member's total
primary and contingent liability to the credit
union.
No member may
withdraw any shareholdings below the amount of
his/her primary or contingent liability to the
credit union if he/she is delinquent as a
borrower, or if borrowers for whom he/she is a comaker, endorser, or guarantor are delinquent,
without the written approval of a loan officer.
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PRIMARY AND CLUB SAVINGS ACCOUNT
This
account is a Variable Rate Account. The dividend
rate and Annual Percentage Yield (APY) may
change every month as determined by the Credit
Union board of directors. As of
December 7, 2004, your Primary/Club Savings
Account will earn dividends according to the
following schedule:
| Balance Limits |
APY |
Dividend Rate |
| $0.00 - $ 24.99 (aver. daily balance) |
0.00 |
0.00 |
| $25.00 - $2,499.99 (aver. daily balance) |
0.50 |
0.50 |
| $2,500.00 + (aver. daily balance) |
0.50 |
0.50 |
Nature of
Dividends
Dividends are paid from current income and
available earnings, after required transfers to
reserves at the end of a dividend period.
Compounding
and Crediting
Dividends will be compounded monthly and
will be credited to your account monthly. If you
close this account before dividends are paid,
you will receive the accrued dividends.
Minimum
Balance Requirements
The minimum balance to open this account is
$25.00. You must maintain a minimum daily
balance of $25.00 to earn dividends on this
account.
Balance
Computation Method
Dividends on this account are calculated on
the Daily Balance method. "Daily"
means that a daily periodic rate is applied to
the principal in the account each day.
Date Dividends
Accrue
Dividends will begin to accrue on the
business day you deposit non-cash items (e.g.
share drafts) to your account.
Fees and
Charges
There is a $10.00 re-open account fee. There are no other fees or charges
associated with this account.
Transaction
Limitations
During any month, you may not make more than
six withdrawals or transfers to another Credit
Union account of yours or to a third party by
means of a preauthorized or automatic transfer
or telephonic order or instruction. No more than
three of these may be made by check, draft,
debit card, if applicable, or similar order. If
you exceed these transfer limitation set forth
above, your account may be subject to a fee or
may be closed.
Par Value of
Shares; Dividend Period
The par value of a regular share in this
Credit Union is $5. The dividend period of the
Credit Union is monthly, beginning on the first
day of the month and ending on the last day of
the month.
Insurance
Member accounts in this Credit Union are
federally insured by the National Credit Union
Share Insurance Fund
Bylaw
Requirement
The credit union reserves the right, at any
time, to require members to give, in writing,
not more than 60 days notice of intention to
withdraw the whole or any part of the amounts
paid in by them except for those amounts paid into
share checking accounts.
No member may
withdraw shareholdings that are pledged as
required security on loans without the written
approval of a loan officer, except to the extent
that such shares exceed the member's total
primary and contingent liability to the credit
union.
No member may
withdraw any shareholdings below the amount of
his/her primary or contingent liability to the
credit union if he/she is delinquent as a
borrower, or if borrowers for whom he/she is a comaker, endorser, or guarantor are delinquent,
without the written approval of a loan officer.
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SHARE CHECKING ACCOUNT
This
account is a Variable Rate Account.
The dividend rate and Annual Percentage
Yield (APY) may change every month as determined
by the Credit Union board of directors. Rate as of
December 7, 2004, are as follows:
| Balance
Limits |
APY |
Dividend
Rate |
| $0.00
- $ 9,999,999.99 |
.15 |
.15 |
Nature of
Dividends
Dividends are paid from current income and
available earnings, after required transfers to
reserves at the end of a dividend period.
Compounding
and Crediting
Dividends will be compounded monthly and
will be credited to your account monthly. If you
close this account before dividends are paid,
you will receive the accrued dividends.
Minimum
Balance Requirements
The minimum balance to open this account is
$0.00. You must maintain a minimum daily
balance of $0.00 to earn dividends on this
account.
Balance
Computation Method
Dividends on this account are calculated on
the Daily Balance method. "Daily"
means that a daily periodic rate is applied to
the principal in the account each day.
Date Dividends
Accrue
Dividends will begin to accrue on the
business day you deposit non-cash items (e.g.
share drafts) to your account.
Fees and Charges
| Share
transfer to cover overdrafts |
$15.00
per transfer |
| Overdrafts/Returned
items |
$20.00
per item |
| Stop
Payment Order |
$18.00
per order |
| Check
copies |
$
3.00
per item |
| Account
history |
$
1.00
per computer screen |
| Credit
Union assistance in reconciliation of
account |
$18.00
per hour |
| Outgoing
wire |
$12.00
per item |
| Teller
checks |
$ 3.00
per item |
| Copies
of Teller Checks |
$
2.00
per item |
| Statement
Copies |
$
3.00
per statement |
| Account
# Change |
$
5.00
per occurrence |
| Check
printing Fee |
varies
on style and quantity of checks ordered.
Specific information available upon
request |
| ATM
Fee |
Two (2) free
transactions. After the second transaction, a fee of $2.00 per
transaction will be assessed. |
Transaction
Limitations
No transaction limitations apply to this
account.
Par Value of
Shares; Dividend Period
The par value of a regular share in this
Credit Union is $5. The dividend period of the
Credit Union is monthly, beginning on the first
day of the month and ending on the last day of
the month.
Insurance
Member accounts in this Credit Union are
federally insured by the National Credit Union
Share Insurance Fund
Bylaw
Requirement
The credit union reserves the right, at any
time, to require members to give, in writing,
not more than 60 days notice of intention to
withdraw the whole or any part of the amounts
paid in by them except for those amounts paid into
share checking accounts.
No member may
withdraw shareholdings that are pledged as
required security on loans without the written
approval of a loan officer, except to the extent
that such shares exceed the member's total
primary and contingent liability to the credit
union.
No member may
withdraw any shareholdings below the amount of
his/her primary or contingent liability to the
credit union if he/she is delinquent as a
borrower, or if borrowers for whom he/she is a comaker, endorser, or guarantor are delinquent,
without the written approval of a loan officer.
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IRA SHARE ACCOUNT
This
account is a Variable Rate Account. The dividend
rate and Annual Percentage Yield (APY) may
change every month as determined by the Credit
Union board of directors. As of December 7,
2004,
your IRA Share Account will earn dividends
according to the following schedule:
| Balance Limits |
APY |
Dividend Rate |
| All Balances |
1.50% |
1.49% |
NATURE OF
DIVIDENDS
Dividends are paid from current income and
available earnings, after required transfers to
reserves at the end of a dividend period.
COMPOUNDING
AND CREDITING
Dividends will be compounded monthly and will be
credited to your account monthly. If you close
this account before dividends are paid, you will
receive the accrued dividends.
MINIMUM
BALANCE REQUIREMENTS
The minimum balance to open this account is
$0.00. You must maintain a minimum daily balance
of $0.00 to earn dividends on this account.
BALANCE
COMPUTATION METHOD
Dividends on this account are calculated on the
Daily Balance method. “Daily” means that a
daily periodic rate is applied to the principal
in the account each day.
DATE DIVIDENDS
ACCRUE
Dividends will begin to accrue on the business
day you deposit non-cash items (e.g. share
drafts) to your account.
FEES AND
CHARGES
The following fees and charges may be assessed
against your account:
- If all funds
are withdrawn and the account closed, there
will be a $5 fee charged to the member to
reopen the account.
TRANSACTION
LIMITATIONS
During any month, you may not make more than six
withdrawals or transfers to another Credit Union
account of yours or to a third party by means of
a pre-authorized or automatic transfer or
telephonic order or instruction. No more than
three of these may be made be check, draft,
debit card, if applicable, or similar order. If
you exceed these transfer limitations set forth
above, your account may be subject to a fee or
may be closed.
PAR VALUE OF
SHARES; DIVIDEND PERIOD
The par value of a regular share in this Credit
Union is $5. The dividend period of the Credit
Union is monthly, beginning on the first day of
the month and ending on the last day of the
month.
INSURANCE
Member accounts in this Credit Union are
federally insured by the National Credit Union
Share Insurance Fund.
Bylaw
Requirement
The credit union reserves the right, at any
time, to require members to give, in writing,
not more than 60 days notice of intention to
withdraw the whole or any part of the amounts
paid in by them except for those amounts paid into
share checking accounts.
No member may
withdraw shareholdings that are pledged as
required security on loans without the written
approval of a loan officer, except to the extent
that such shares exceed the member's total
primary and contingent liability to the credit
union.
No member may
withdraw any shareholdings below the amount of
his/her primary or contingent liability to the
credit union if he/she is delinquent as a
borrower, or if borrowers for whom he/she is a
comaker, endorser, or guarantor are delinquent,
without the written approval of a loan officer.
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