Money Market Account

Money Market Account

Money Market Account Dividend Payments The Dividend Rate, the Annual Percentage Yield (APY), the Schedule of Rates and the Schedule of Fees are incorporated in this agreement by reference.

Dividend Information: Money Market:
Dividends will be compounded daily and credited monthly. For this account type, the dividend period is monthly, and dividends are credited on the last day of the dividend period.

Minimum Balance Requirements:
The minimum balance required to open a Money Market Account is $2,000.00. NO dividends will be paid if your account falls below $2,000.00 during any month.

Account Limitations:
No more than three (3) transactions in the form of checks written, withdrawals, or transfers are allowed per month. A minimum of $300.00 is required per transaction. A fee will be charged pursuant to the schedule of fees for any transaction that exceeds three (3) per month. See Oldham Family Alliance FCU fee schedule for application fees.

Rate Information: The Money Market Account is a tiered rate account. See the schedule of rates for the rate. Rates for OFAFCU accounts are determined and set forth by OFAFCU’s Board of Directors. There are NO limitations during the life of this account. Rates are variable and subject to change without notice.

Dividend Accrual:
Dividends will begin to accrue from the date of deposit on cash and non cash items (official checks). If an account holder closes the account before accrued dividends are credited, accrued dividends will not be posted.

Nature of Dividends:
Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period. The Dividend rate and APY are the prospective rates and yields that OFAFCU anticipates paying for the applicable dividend period.

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