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PECU IRAsS

Minimum To Open: The minimum required to open an Individual Retirement Account (IRA) is $25.00.

To Earn Interest: The account must have a balance of at least $25.00 to earn interest.  You must maintain a balance of $25.00 in your account each day to earn the disclosed annual percentage yield (APY).

Rate Information: The interest rate and annual percentage yield may change each interest period as determined by the Board of Directors See current rate schedule for rate and APY.  Rates are subject to change without notice.

Daily Balance Computation Method: Interest is calculated on a daily balance method which applies a daily periodic rate to the account balance each day the balance is $25.00 or more    For calculation purposes, the interest period should never be less than 28 days nor more than 31 days.

Crediting and Compounding: Interest will be credited as of the first of each month for the amount earned during the prior month and compounded monthly.  Interest will be available for withdrawal on the first business day after the interest has been credited.  If the account is closed before the end of a month, the accrued interest will not be credited.

Accrual of Interest on Non-Cash Deposits: Interest will begin to accrue on the business day a non-cash item (i.e. deposited check) is credited to the account.

Fees and Charges: You agree to pay the fees and charges that pertain to this account as listed in the "Service and Fee" schedule, which is a separate disclosure.  Fees may be deducted from the account balance.  Fees may reduce earnings on account.

Collateral: This account may not be pledged as collateral on a loan with the credit union nor an assignment given to any other financial institution.

Transaction Limitations: Withdrawals are subject to federal IRA regulations.  The applicable form must be completed prior to withdrawal.  Penalties and federal withholding may apply according to federal IRA regulations.  IRA accounts are unavailable for overdraft protection.                    

 The National Credit Union Share Insurance Fund: This federal fund insures member accounts up to $250,000.00 aggregate total, separate from regular account.      

Excess Share Insurance: This is a private insurance company that insures accounts up to an additional $250,000.00 aggregate total.