Current Rates

This rate schedule sets forth certain conditions and rates applicable to your Share, Share Certificates and IRA accounts at Cornerstone Community Credit Union at this time. Cornerstone Community Credit Union on occasion, may offer other rates than those contained in this schedule. Each member agrees to the terms set forth in this rate schedule and acknowledges that it is a part of the membership agreement.

Rates effective as of 4/30/14.

Account Rates & Terms

Share Certificate Account IRA Share Certificate Account IRA Savings Account
Minimum Opening Deposit $1,000.00 $1,000.00 None
Dividends Credited Mth/Maturity Mth/Maturity Monthly
Term
6 Months
12 Months
24 Months
36 Months
APY%
.25%
.45%
.70%
1.05%
APY%
.25%
.45%
.70%
1.05%
APY%
IRA Savings .50% APR  .50% APY
Renewal Policy Automatic Automatic
 

Penalty Section – Share Certificate
Except for dividend withdrawals, the following penalty will be assessed:
a.) If the maturity is 1 year or less, there will be a forfeiture of 3 months dividend based on timing of withdrawal.
b.) If the maturity is longer than 1 year, there will be a forfeiture of 6 months dividend based on timing of withdrawal.
c.) If the amount required to be forfeited exceeds the amount of earned dividends in your account,
this amount will be deducted from the amount you requested to withdraw.
d.) Penalty will not be applied if withdrawal is made subsequent to the death of any certificate owner.

Penalty Section – IRA Share Certificate
IRA Share Certificate accounts are subject to certificate penalties of early withdrawal
except in the following instances:
a.) If the IRA Share Certificate owner reaches the age of 59 _ years of age.
b.) Early withdrawal penalty in addition to dividend, $25.00 per occurrence.

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. On the IRA Savings account above, the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union’s Board of Directors.

This rate schedule sets forth certain conditions and rates that are applicable to your Share, Share Draft and miscellaneous accounts at The Cornerstone Community Credit Union at this time. The Cornerstone Community Credit Union may offer other rates than are contained in this schedule from time to time. Each member agrees to the terms set forth in this rate schedule and acknowledges that it is a part of the membership agreement.  Rates may vary after the account is opened.

Rates good as of 04/26/2013 and the APY accurate as of the last dividend declaration date.

Account Rates & Terms

Share Account Share Draft Account X-Mas Account Vacation Account Youth Account Money Market
Dividend Rate
Up to $5,000
Over $5,000
Over $25,000
.05%
.10%.15%
.00%
.00%.00%
.15%
.15%.15%
.10%
.15%
.20%
.20%
.25%.25%
.15% 2K-10K

.20% 10K-25K

.25% 25K-75K

.30% $75K+

 

Annual % Yield
Up to $5,000
Over $5,000
Over $25,000
.05%
.10%.15%
.00%
.00%.00%
.15%
.15%.15%
.10%
.15%
.20%
.20%
.25%.25%
 .15% 2K-10K

.20% 10K-25K

.25% 25K-75K

.30% $75K+

Compounded Monthly Monthly Monthly Monthly Monthly Monthly
Deposited Monthly Monthly Monthly Monthly Monthly Monthly
Min. Balance $25.00 N/A $1.00 $1.00 $1.00 $500
Min. Balance to Earn a Dividend $100.00 N/A $.01 $.01 $.01 $2000
Balance Method
(Example: Average Balance, times APR Rate, divided by 12)
Average Average Average Average Average Average
Limitations None None 1 WD
Nov. 1st
6 WD None 5 WD/ Month
Fee to Withdraw None None *$10.00 **$10.00 None ***$10
*Per withdrawal other than November 1st of each year.  Imposition of fee will reduce account’s earnings on both Christmas and Vacation Club accounts.
**Per withdrawal over 6 per year.***Per withdrawal over 5 withdrawals per month

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. On all accounts above, the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union’s Board of Directors. For current rate information, call 1-515-274-2343 or 1-800-273-3488. Dividends begin accruing immediately regardless of the type of deposit. Dividends will not be paid on any account that is closed before accrued dividends are paid on the last day of each month. On all types of Share Accounts, (except term accounts), dividends are paid from available income after all required reserve transfers have been made at the end of each month.