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ADDENDUM to Existing Bank-Fund Staff Federal Credit Union Account Agreements and Disclosures
Rate Information
The dividend rate and annual percentage yield may change at any time, as determined by the Credit Union board of directors.
Compounding and Crediting
Dividends will be compounded every month. Dividends will be credited to your account every month.
Dividend Period
For this account type, the dividend period is monthly. For example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the last day of the dividend period, and for the example above is January 31.
Minimum Balance Requirements
You must maintain a minimum daily balance of $2,500.00 in your account each day to avoid incurring a fee.
Daily Balance Computation Method
Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of Dividends on Noncash Deposits
Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.
Transaction Limitations
No transaction limitations apply to this account unless otherwise stated in the Common Features section.
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