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Fee Schedule

General Fees

Effective Date: January 01, 2021

Fee DescriptionFee
Membership Application fee: (non-refundable)$10.00
Transfer Fee, Per Item (Share to share draft transfer, for clear incoming item)$5.00
Cashier’s Check Fee, per check: 1 check free per month; additional checks at$5.00
Wire Fees (Outgoing)$25.00
Wire Fees (Incoming)$10.00
Return Check Fee (NSF)/ACH Return Fee$20.00
Stop Payment Fee$10.00
Personal Account Statement Copy (Per Quarter)$3.00
Business Account Statement Copy$3.00
Account History Copy (Per year)$2.00
Deposit/Paid Check Copy$2.00
Other Document Copy$3.00
1 year & Older Research, Per Hour$50.00
Returned Mail, Per Item (for certified with Returned)$10.00
Certified Mail$7.50
Mail Out Letter per Item****$1.00
Overdraft Fee$35.00 for the first 3 business days; afterwards $35.00 per day
Levy/Garnishment$50.00
Outgoing IRA Transfer/Rollover$45.00
IRA Account Maintenance Fee per year$10.00
Administrative Fees$25.00 Per Hour
Dormant Account Fees Per month$3.00
Personal LOC, Annual Fees$120.00
Share Secured Personal Line of Credit, Annual Fees$120.00
Business Line of Credit, Annual Fee$100.00
Monthly Statement Fees (If not signed up for E-Statements per month)$2.00
Loan Application Submission Fee (Refundable upon loan disbursement)$25.00
Uncollected Loan Fees$100.00
Temporary Checks per Page$3.00
Letter of Credit (Annually)1.00%
Return Check Duplicate Copy (Per check)$1.00
Bank Certificate$3.00
Overnight Delivery Fee$25.00
Minimum Balance Monthly Fee (Share Savings)$5.00
Teller Check Fee (Share Draft Account)$3.00

Safe Deposit Rental Fee Yearly

Deposit Box SizeFee
Size 5″ x 5″$30.00
Size 3″ x 10″$40.00
Size 5″ x 10″$60.00
Size 10″ x 10″$100.00
Key Deposit$30.00
Replace lost or stolen safe deposit keys$125.00

Loans

Fee DescriptionFee
Duplicate Loan Papers (current loans)$25.00
Duplicate Loan Papers (old loans within 7 years)$50.00
Loan Payment Late Fee$25.00***
Residential Loan Payment Late Fee5.000%
Business Loan Payment Late Fee$50.00***

(Late fee amount should not exceed 5% of the payment amount or $50.00 whichever is lower)


Loan Processing Fees

Loan TypeFee
Unsecured Loan up to $100,000$100.00
Unsecured Loan from $100,001 to $150,000$150.00
Personal Line of Credit$120.00
Share Secured Personal Line of Credit$100.00
Auto LoansNo Fee
Equipment Loan$200.00
Capital Injection Loan$200.00
Business Security Loan$100.00
Business Line of Credit$100.00
Education LoanNo Fee
Uncollected Loan Processing Fee$100.00

Member Business Loan/CREL – Loan Processing Fee (Non-refundable)

Loan DescriptionFee
Loan up to $150,000$600.00
Between $150,001 to $500,000$1,100.00
Above $500,001$1,500.00

Member Business & Real Estate Loan Fee 1% of Loan amount with floor of Loans up to $150k with minimum of $1,500.00 Loans above $150k with minimum of $2,500.00 (If Loan approved the above processing fee will be adjusted with the loan fee)


Loan Interest Rate Schedule

Loan TypeRates
Preferred Loan Unsecured from $5,000 to $49,9005.99%**
Premium Loan Unsecured from $50,000 to $100,0005.99%**
Prime Loan Unsecured up to $150,0005.99%**
Personal Line of Credit up to $100,0005.99%**
Business Line of Credit up to $49,9005.99%**
Line of Credit Default Interest Rate12.00%**
Capital Injection Loan (COVID -19) up to $49,000.004.99%**
Emergency Loan up to $5,0007.99%**
Education Loan4.99%**
Share Secured loan (Savings) / Share Secured Personal Line of Credit (Savings) Loan up to Any Amount (Last Div + 2% (Floor of 4.50% Interest rate or whichever is higher)4.50%**
Semi Share Secured Loan, Rates Starting at Up to $100,0005.99%**
Secured Loan against Share Draft (Last Div+2%)2.25%**
Gold Master Card12.95%**
Business Security Cabin / Booth/Security System loan up to $15,0004.99%**
Equipment Loan up to $49,0004.99%**
Member Business Loan (MBL) up to $150,000 – Fixed Rate (Whichever is higher)9.99%**
Member Business Loan (MBL) up to $150,000 – Variable Rate (Whichever is higher)6.99% or Prime + 2.00%**

(Furniture, Fixtures and Equipment’s, UCC filed)


Auto Loan Interest Rate Schedule

Loan TypeRates Starting atRates
New Auto, up to 6 years TermUp to 36 Months1.79%**
Up to 72 Months2.49%**
Used Auto, up to 6 years TermUp to 36 Months2.49%**
Up to 72 Months2.99%**

(New Auto/Used Auto rates are for limited time only)


Real Estate Interest Rate Schedule

Loan TypeTermRates
Commercial Real Estate Loan (CREL) Single borrower up to $1,500,000 Multiple borrowers up to $2,650,000Fixed Rate for 5 YearsPrime + 0.75% then Prime +1.00%
Fixed Rate for 10 YearsPrime + 1.50% then Prime +1.00%
Variable RatePrime + 1.00%**

(Property Lien, UCC filed & CREL Loan amortized for 25 Years but repayment in 15 years)


Loan TypeLien up toRates
Residential Real Estate Loan1st Lien up to $548,250(for rates contact CU)
2nd Lien up to $50,000(for rates contact CU)
Home Mortgage Jumbo Loans1st Lien up to $2,500,000(for rates contact CU)
Home Equity Loan1st Lien up to $1,500,000(for rates contact CU)
2nd Lien up to $300,000(for rates contact CU)

Loan TypeTermRates
Home Mortgage Refinance Loan ProgramFixed Rate for 7 Years(for rates contact CU)
Fixed Rate for 10 Years(for rates contact CU)
Fixed Rate for 15 Years(for rates contact CU)
Residential Owner-Occupied Land / Lot LoansFixed Rate for 10 Years4.50%**
Fixed Rate for 15 Years5.00%**

New Accounts (To Open & Maintain)

Account TypeFee
Share Draft (Checking) Account$100.00
Share Savings Account$100.00
IRA Savings Account$100.00
Business Account: Share Draft/Share Savings$500.00

Business Account Charges

Small Business Checking (Deposits & Withdrawals)

Account Fee DescriptionFee
Transactions Up to 50 Per ItemFREE
Transactions Over 50 Per Item$0.30
Minimum Daily Balance Required$500.00
Below Balance Monthly Fee$10.00

Commercial Business Checking Account

Account Fee DescriptionFee
Unlimited Transactions (Deposits & Withdrawals)FREE
Minimum Daily Balance Required$500.00
Below Balance Monthly Fee$50.00
Monthly Fee$50.00

Commercial MSB Account

Account Fee DescriptionFee
Unlimited Transactions (Deposits & Withdrawals)FREE
Minimum Daily Balance Required$500.00
Below Balance Monthly Fee$50.00
Monthly Fee$99.00

Check Cashing Account**

(For details refer Check Cashing Fee Schedule)

Account Fee DescriptionFee
Monthly Charges (Based on Check Cashing Volume) – Contact CUStarting at $99.00
Check Deposited (Each)$0.15
Check Deposited (Each) Thru RDC$0.08
Cash Withdrawal Fee0.12%
Other Withdrawal Fee (As applicable)0.20%
Scanner Software/Maintenance Fees (Per month)Free**
Account Closing Fee (90 Days)$25.00

CD Required based on Check Cashing volume and your account analysis CD Term until close of account - Release after 90 days.
Administrative Fee will apply for re-opening the Account $200.00.

(Please refer to Check Cashing fees schedule for more information)


Dividend Declared Interest Rate

Quarter ending October 2020 to December 2020

Account TypeRate TypeRate
Share Draft (Checking) Accounts: **Dividend Rate0.25%*
Dividend Rate (APY)0.2502%*
Minimum Balance to earn dividend$300.00
Share Savings Accounts:Dividend Rate2.00%*
Dividend Rate (APY)2.0184%*
Minimum Balance to earn dividend$100.00
Pioneer Education Savings Accounts:Dividend Rate3.50%*
Dividend Rate (APY)3.5462%*
Minimum Balance to earn dividend$100.00
IRA Savings Accounts:Dividend Rate2.50 %*
Dividend Rate (APY)2.5235%*
Minimum Balance to earn dividend$100.00
Certificate of Deposit (2 Years)Dividend Rate1.50%*
Dividend Rate (APY)1.5103%*
Minimum Balance to earn dividend$1,000.00
Special Certificate of Deposit (3 Years)Dividend Rate4.00%*
Dividend Rate (APY)4.0741%*
Minimum Balance to earn dividend$1,000.00
Certificate of Deposit (3-5 Years)Dividend Rate5.00%*
Dividend Rate (APY)5.0945%*
Minimum Balance to earn dividend$1,000.00
Check Cashing CD Account **Dividend Rate0.50%*
Dividend Rate (APY)0.5011%*
Minimum Balance to earn dividend$1,000.00

Note:
* Share Saving Dividends Credited/Compounded Quarterly
* Share Draft/CD Dividends Credited/Compounded Monthly
* Balance Method for Dividend calculation is on Average Daily Balance

** Dividend rate is for the month of December 2020
* The dividend rate and annual percentage yield (APY) may change  as determined by the Credit Union's Board of Directors.

** Interest rate, number of guarantor requirement, collateral requirement and loan eligibility will be based on Credit Score. Rates and fees are subject to changes any time.
** Interest rate will be applicable on the prevailing rate on the date application received (Except Variable Rates)
** All other fees will be applicable as per MSB fee schedule.

*** Late Fee may be waived where applicable
**** Maybe Charged