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Share (Savings)
The Share (Savings) account is the cornerstone for all of our services and the basis for your membership. With a minimum opening deposit of $5.00, this Share account will represent your share of ownership and make you eligible for all services that Trans Texas Southwest Credit Union has to offer.
*There is no monthly fee or limit on withdrawals.
Dividends for all dividend bearing accounts will begin to accrue on the business day you deposit cash and non-cash items to your account. Dividends will be calculated by the daily balance method, compounded and paid quarterly. The quarterly dividend period for the Share (Savings) account begins on the first calendar day and ends on the last calendar day of the quarter. In the event your Share (Savings) account is closed before dividends are paid, you will not receive the accrued dividends.
Share
(Savings) Accounts
Effective March 31, 2005 |
MINIMUM
BALANCE |
DIVIDEND
RATE |
APY** |
| $0000.01
|
0.499% |
0.500%
|
$2000.01
|
0.996% |
*0.50% - 1.00% |
$5000.01
|
1.492% |
*1.00% - 1.50% |
* Based on tier balance. This account has as an additional benefit of up to $2,000.00 free life insurance.
** APY is the Annual Percentage Yield and rates
are subject to change. |
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Money Market Accounts
With this account, you will always earn a higher rate of return on your money* than on a regular share or share draft account. Limit of six (6) withdrawal transactions from these accounts. If limit is exceeded, or if account balance drops below $2500.00, account will be subject to a $10.00 monthly service charge.
Money
Market Accounts
Effective December 31, 2009
|
| MINIMUM
BALANCE |
DIVIDEND
RATE |
APY** |
$2,500.00 - $10,000.00
|
0.995%
|
1.00%
|
$10,000.01 - $50,000.00
|
1.490%
|
1.50%
|
$50,000.01 - $200,000.00
|
1.982%
|
2.00%
|
$200,000.01- and above
|
0.995%
|
1.00%
|
* Based on tier balance.
** APY is the Annual Percentage Yield and rates
are subject to change. |
There is a minimum balance of $2,500.00. A $10.00 monthly service charge will be charged if this balance is not met.
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Savers Club Accounts
We are pleased to offer a new savings product - the Savers Club account! This savings account is an alternative to a fixed-term certificate of deposit and is designed to encourage long-term savings. This account earns interest monthly at a rate equal to the 12-month CD rate as of April 1st.
Savers
Club Accounts
Effective April 1, 2009
|
| MINIMUM
BALANCE |
DIVIDEND
RATE |
APY** |
$100.00
|
2.231%
|
2.25%
|
** APY is the Annual Percentage Yield and rates
are subject to change. |
There are both deposit and withdrawal restrictions on this account:
*Deposits are limited to a total of $500.00 per calendar month.
*Only one withdrawal is permitted per calender year. Any additional withdrawals are subject to a penalty equal to 90 days interest.
*The minimum opening deposit is $100.00, and the maximum opening deposit is $500.00.
*Limit one Savers Club account per TIN.
Set your sights on the future and put a Savers Club account to work for you today!
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Share Certificates
This is an account that provides a higher yield on your funds. Certificates of deposit are issued for a fixed amount and for a designated time. The minimum amount to invest in a CD is $500.00. Interest can be paid to your share account, share draft account, certificate, or withdrawn. However, there is a penalty for early withdrawal.
Share
Certificates
Effective December 2, 2009 |
| CD TERM |
DIVIDEND
RATE |
APY** |
3 Months
|
.748% |
0.75% |
6 Months
|
.996% |
1.00% |
12 Months |
1.244% |
1.25% |
24 Months |
1.985% |
2.00% |
36 Months |
2.231% |
2.25% |
4 Year
|
2.330% |
2.35% |
5 Year
|
2.477% |
2.50% |
| ** APY is
the Annual Percentage Yield and rates are subject
to change. Disclosure Statement Click Here |
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IRA Accounts
Individual Retirement Accounts (IRAs) help you save now for security in your retirement years. Make your savings a habit with payroll deduction! Save part of each paycheck to add to your IRA account. Interest is compounded monthly on 30-day accounts.
Check with us
for other investment products.
IRA
Accounts
Effective September 30, 2008 |
MINIMUM
BALANCE |
DIVIDEND
RATE |
APY** |
| - |
2.960% |
3.00% |
| ** APY is the
Annual Percentage Yield and rates are subject to
change. |
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 Christmas
Club Account
Let
us help you prepare for Christmas 2010!
Dear Valued Member:
One of our best kept secrets is our great Christmas Club Account, designed to help you easily set aside savings for Christmas expenses. This account can be opened at any time, with as little as $5.00. You may make unlimited deposits to this account, but no withdrawals are permitted, allowing your savings to grow throughout the year. In October, we will mail you a check for the balance of your account for your Christmas shopping needs.
Dividends are paid quarterly on this account. Check
out the rates:
Christmas
Club Accounts
Effective April 1, 2007 |
MINIMUM
BALANCE |
DIVIDEND
RATE |
APY** |
| $ .01 - 2,000.00
|
.499% |
.500% |
$2,000.01 - 5,000.00
|
.996% |
.50%-1.00% |
$5,000.01 - above
|
1.492% |
1.00%-1.50% |
*Rates can be adjusted anytime
** APY is the Annual Percentage Yield and rates
are subject to change. |
At your request, we can perform
periodic transfers from your existing share draft checking
or shares savings account. Please call us or come on
by – it is quick and easy to set up your new Christmas
Club Account.
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