Savings Accounts Rates and Disclosures

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Rate Schedule

This Rate Schedule sets forth current conditions and rates, applicable to your Savings Accounts at Northwest Community Credit Union at this time. The Credit Union may offer other rates or amend the rates contained in this schedule from time to time. Each account holder agrees to the terms set forth on this Rate Schedule and acknowledges that it is a part of the Membership and Account Agreement.

Current rates for , (effective since 9/18/2008)

Truth-In-Savings Disclosures

Except as specifically described, the following disclosures apply to all of the accounts:

1. Rate Information. The Dividend Rate and Annual Percentage Yield on your Share accounts are set forth above. For IRA Variable and Pledged Share Accounts*, the Interest Rate and Annual Percentage Yield are set forth above.  The Annual Percentage Yield is a percentage rate that reflects the total amount of dividends/interest to be paid on an account based on the Dividend/Interest Rate and frequency of compounding for an annual period. The Regular Shares, Youth Shares, Tomorrow Shares, and Business Savings Account are tiered rate accounts. The Dividend Rate for a particular tier will apply to the entire account balance if the account balance is within the balance range for that tier.  For dividend and interest bearing accounts, the Dividend/Interest Rate may change monthly as determined by the Board of Directors.
2. Nature of Dividends. Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period. For Share accounts, the Dividend Rate and Annual Percentage Yield disclosed are the anticipated Rate and Yield the Credit Union will pay for the applicable dividend period.
3. Compounding and Crediting. For dividend/interest bearing accounts, dividends/interest will be compounded and credited monthly. The Dividend Period for all dividend-bearing accounts begins on the first calendar day of the month and ends on the last calendar day of the month.
4. Accrual of Dividends/Interest. Dividends/interest will begin to accrue on cash deposits and non-cash deposits (e.g. checks) on the business day you make the deposit to your account. For Regular Shares, Youth Shares, Tomorrow Shares, Pledged Share Account, and Business Savings, if you close your account before dividend crediting, you will not be paid accrued dividends/interest.
5. Balance Information. Please see the schedule of Fees and Charges for the minimum opening balance required and the minimum monthly balance required to avoid a service fee for each account set forth above. For dividend and interest bearing accounts, dividends and interest are calculated by the daily balance method that applies a daily periodic rate to the daily principal in the account.
6. National Credit Union Administration (NCUA) Federal Deposit Insurance.  Balances are insured up to $250,000 through the National Credit Union Share Insurance Fund (NCUSIF), a federal fund backed by the full faith and credit of the United States government as administered by the National Credit Union Administration (NCUA).

*Pledged share accounts are opened as collateral for share-secured loans. After the loan is paid, your account will be closed and the funds transferred to your regular share account.

The rates appearing in this Schedule are accurate and effective for Savings Accounts as of the Effective Date indicated above. If you have any questions or require current rate information on your accounts, please call the Credit Union at 800-452-9515.