HAPO Community Credit Union - Certificate Account Rates

Certificate Account Rates

Description

Dividend

APY*

Minimum Balance

Adjustable Rates

12 Months

1.84%

1.85%

$5,000

18 Months

1.89%

1.90%

$5,000

24 Months

1.94%

1.95%

$5,000

Fixed Rates

6 Months

1.84%

1.85%

$100,000

6 Months

1.74%

1.75%

$5,000

1 Year

2.25%

2.27%

$5,000

18 Month

2.29%

2.31%

$5,000

2 Year

2.54%

2.56%

$5,000

30 Months

2.97%

3.00%

$5,000

3 Year

3.00%

3.03%

$5,000

4 Year

3.26%

3.30%

$5,000

1 Year

1.74%

1.75%

$500

2 Year

1.84%

1.85%

$500

Important:
*Contact the HAPO financial nearest you for current rate information or promotional special offerings. Rates may vary. Rates and APY (Annual Percentage Yield), are subject to change without notice.

You may make additional deposits as often as you like on all 6 month to 24 month CD terms. The additional deposits must be $100 or more.

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

Rate Information - The Dividend Rate and Annual Percentage Yield on your accounts are set forth above. For Fixed Rate Certificate accounts, the Dividend Rate and Annual Percentage Yield are fixed and will be in effect for the initial term and reset for any renewal term of the account. For Adjustable Rate Certificate accounts, you have a one time option to adjust the rate during the term. The initial Dividend Rate will remain fixed from the time you open the account until you elect to adjust the rate. The Adjustable Dividend Rate is the Dividend Rate being paid for new Certificate accounts of the same class at the same time the adjustment is made. For all Certificate accounts, the Annual Percentage Yield is based on an assumption that interest will remain on deposit until maturity. A withdrawal of dividends will reduce earnings.
Nature of Dividends - The Dividend Rate and Annual Percentage Yield set forth above are the prospective rates that the Credit Union anticipates paying for the applicable dividend period.
Compounding and Crediting - Dividends will be compounded and credited quarterly and at maturity. For all accounts, dividends are calculated by the average daily balance method. Dividends are calculated by applying a periodic rate to the average daily balance in the account for the dividend period. Adding the full amount of principal in the account for each day of the period and dividing that figure by the number of days in the period determine the average daily balance.
Balance Information - The minimum balance required to open each account is set forth above.
Add-on Feature - The 6 month through the 24 month certificates allow additional deposits in increments of $100.00 and more; through the term of the certificate.
Certificate Account Features
- Account Limitations: After your account is opened, you may not make additional deposits to a Certificate account with the exception of "add-on" certificates noted above. You may make dividend withdrawals, subject to early withdrawal penalties.
- Maturity: Your Certificate account will mature within the term set forth above or maturity date set forth on your Account Receipt or Renewal Notice.
- Early Withdrawal Penalty: We may impose a penalty if you withdraw any of the principal of your Certificate account before the maturity date.
  - Amount of Penalty For Certificate accounts, the amount of the early withdrawal penalty is based on the following penalty schedule:
  - How the Penalty Works - The penalty is calculated as a forfeiture of part of the interest that has been or would be earned at the nominal rate on the account. It applies whether or not the interest has been earned. In other words, if the account has not yet earned enough interest or if the interest has already been paid; the penalty will be deducted from the principal. The penalty will be based on the account balance on the day of your withdrawal.
  - Exceptions to Early Withdrawal Penalties At our option, we may pay the account before maturity without imposing an early withdrawal penalty when an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction.
- Renewal Policy
  - Certificate accounts are automatically renewable accounts. At maturity, your account will renew for anther term at the current Dividend Rate offered at that time.
  - Renewal Notice. You may call the Credit Union at maturity to obtain the Dividend Rate and Annual Percentage Yield for the renewal term. You have a grace period of ten (10) business days after maturity in which to withdrawal funds in the account without being charged an early withdrawal penalty.
- Nontransferable/Nonnegotiable - Your account is nontransferable and nonnegotiable. The funds in your account may not be pledged to secure any obligation of any owner, except obligations within the Credit Union.