Money Market Account Disclosure Supplement
Delta Community Credit Union
P.O. Box 20541
Atlanta, GA 30320-2541
Effective Date 11/1/24
This Money Market Disclosure Supplement is incorporated into and becomes part of your Member/Savings Services Disclosures and Agreements. The Disclosure Supplement discloses the account rates, current fees and terms on deposit accounts.
Money Market Account Rate Table
| Tier Range | Prospective Dividend Rate | Prospective Annual Percentage Yield | |
|---|---|---|---|
| $1,000.00 – 9,999.99 | 0.300% | 0.30% |
|
| $10,000.00 – 24,999.99 | 0.349% | 0.35% |
|
| $25,000.00 – 49,999.99 | 0.399% | 0.40% |
|
| $50,000.00 – 99,999.99 | 0.598% | 0.60% |
|
| $100,000.00 – 249,999.99 | 0.747% | 0.75% |
|
| $250,000.00 – 499,999.99 | 0.847% | 0.85% |
|
| $500,000.00 – 999,999.99 | 1.243% | 1.25% |
|
| $1,000,000.00 > | 1.982% | 2.00% |
|
Type of Rate: Variable
Minimum Opening Deposit: None
Minimum Balance to Earn Dividends: $1,000.00
Balance Method: Average Daily Balance
Money Market Fee Schedule
| Fee Name | Fee Amount | |
|---|---|---|
| Foreign Card Fee The Foreign Card Fee is assessed for any card transaction in a foreign currency or completed outside of the U.S., including internet transactions initiated in the U.S. with a merchant who processes the transaction in a foreign country. | 1% foreign transaction | Foreign Card Fee: 1% foreign transaction |
| Foreign Check Fee | 1.5% of final exchange amount, minimum $30, maximum $500 | Foreign Check Fee: 1.5% of final exchange amount, minimum $20 (minimum $30, maximum $500 effective September 4, 2024) |
| Rush Delivery Fee | $15.00 Weekday, $30.00 Saturday | Rush Delivery Fee: $15.00 Weekday, $30.00 Saturday |
| Rush Delivery Fee (Bill Pay ACH) | $15.00 | Rush Delivery Fee (Bill Pay ACH): $9.95 ($15.00 effective September 4, 2024) |
| Stop Payment Order (Check/ACH/Bill Pay/Zelle) | $28.00 | Stop Payment Order (Check/ACH/Bill Pay/Zelle): $25.00 ($28.00 effective September 4, 2024) |
| Domestic Wire Transfer | $25.00 per transfer out | Domestic Wire Transfer: $20.00 per transfer out ($25.00 effective September 4, 2024) |
| International Wire Transfer | $50.00 per outgoing transfer | International Wire Transfer: $40.00 per outgoing transfer ($50.00 effective September 4, 2024) |
| Non-Sufficient Funds (NSF) Fees per calendar year, includes ACHs Note that you may be charged an NSF fee each time a check or ACH is presented to us, even if it was previously submitted and rejected. | $15.00 per presentment | Non-Sufficient Funds (NSF) Fees per calendar year, includes ACHs: $35.00 per presentment Note that you may be charged an NSF fee each time a check or ACH is presented to us, even if it was previously submitted and rejected. |
| Overdraft Transfer Fee from loan or credit card | $5.00 for each overdraft transfer from loans and Visa® | |
| Overdraft Transfer Fee from share | $3.00 for each overdraft transfer from a share account (including savings or checking) | |
| Official Check Withdrawal | $10.00 per check | Official Check Withdrawal: $5.00 ($10.00 effective September 4, 2024) |
| Copy of Past Statement | $3.00 per statement | Copy of Past Statement: $3.00 per statement |
| Transaction History | $5.00 per request | Transaction History: $5.00 per request |
| Copy of IRS Form | $3.00 per form | Copy of IRS Form: $3.00 per form |
| Outgoing Fax | $5.00 first 3 pages; $1.00 each additional page | Outgoing Fax: $5.00 first 3 pages; $1.00 each additional page |
| Court Order Processing Fee | $50.00 per order or the maximum allowed by law | Court Order Processing Fee: $50.00 per order or the maximum allowed by law |
| Money Order | $5.00 per item | Money Order: $5.00 per item |
| Non-Network ATM Fee | $2.00 per withdrawal transaction Note that you will be charged a Non-Network ATM Fee for each withdrawal transaction made at a non-Delta Community or COOP network ATM, regardless of whether they occur within a single or multiple ATM session. | $2.00 per withdrawal transaction Note that you will be charged a Non-Network ATM Fee for each withdrawal transaction made at a non-Delta Community or COOP network ATM, regardless of whether they occur within a single or multiple ATM session. |
Account Disclosures
I. Rate Information
Dividend Rate and APY
The prospective dividend rates and annual percentage yields are stated in the Account Rate Schedule.
Variable Rate Accounts
The dividend rate and annual percentage yield may change every dividend period as established from time to time by the Credit Union’s Board of Directors.
Organizational Accounts
Organizational accounts that do not provide an EIN (Employer Identification Number) will not earn dividends.
II. Nature of Dividends
Dividends are paid from current income and available earnings, after required transfers to reserves at the end of the dividend period.
III. Compounding and Crediting
Frequency
Dividends will be compounded and credited monthly. The dividend period is monthly; for example, the beginning of the first dividend period of the calendar year is January 1, and the ending date is January 31. All other dividend periods follow the same pattern of dates. The dividend declaration date is the ending date of the dividend period, and for the example is January 31.
IV. Balance Information
Minimum Balance Requirements
Minimum balance requirement for each account are set forth in the Account Rate and Terms Schedule.
Balance Computation Method
Dividends are calculated using the average daily balance method. Under this method, the credit union will pay the stated dividend rate that corresponds to the applicable account tier range on the average daily balance for the period. The average daily balance is determined by adding the full amount of principal in the account for each day of the period and dividing that figure by the number of days in the period.
When Dividends Begin to Accrue
Dividends begin to accrue on the business day you make a deposit (whether cash or non-cash, such as checks) to your account.
V. Fees
Fees that may be assessed against your accounts are set forth in the Money Market Fee Schedule.
VI. Transaction Limitations
Money Market Account Limitations
The Credit Union reserves the right to require 60 days prior written notice is provided before any withdrawal of funds from the Share account.
Money Market Limitations
The Money Market account is restricted from the Online Bill Pay and Online Deposit products used within Online Banking. The Credit Union issues ATM cards only on Money Market accounts. ATM or Visa Check Cards issued on other deposit accounts cannot be used to access the Money Market.
Federally insured by NCUA.