TRUTH IN SAVINGS DISCLOSURE


TRUTH IN SAVINGS - Regular Share Accounts 

for Women's Southwest FCU (on 12/31/09 Cal 

Feminist FCU became the Pacific Coast Branch

of Women's Southwest FCU)

 

    Dividends on non-cash deposits accrue from date of 

deposit to date of withdrawal. Dividends are calculated 

by the Average Daily Balance (ADB) method which applies 

a periodic rate to the Average Daily Balance in the account 

for the period.  The Average Daily Balance equals the balance 

of the account each day of the period divided by the number 

of days in the period. Dividends are paid quarterly.  Dividends 

are forfeited if the account is closed before quarter-end.

 

 

    During the 3rd month of each quarter our board of directors 

declares dividends to be paid for that quarter. Dividends 

are paid from current income and available earnings after 

required transfers to reserves at the end of a dividend period. 

The dividend rate & Annual Percentage Yield (APY) may 

change quarterly based on the determination of the directors.

 

 

    Dividends are compounded quarterly & credited to accounts 

once a quarter on the last day thereof. Example: the first quarter 

of each year begins January 1 & ends March 31; dividends for 

that quarter will be paid on March 31. All other dividend 

periods follow this same pattern of dates.

 

 

    TRANSACTION LIMITATIONS: regardless of account balance, 

there is a limit of 5 withdrawals per regular share account 

per month.  Withdrawals which bring the balance below $25 will 

close the account. :

 

 

    To see the rates declared for the most recent quarter, click on 

Savings RatesThe stated rate that corresponds to an applicable 

deposit is/was paid on the full balance of the account.

 

 

 

 

Statutory lien:  If you are in default on a financial obligation to us, 

federal law gives us the right to apply the balance of shares and 

dividends in your account (s) at the time of default to satisfy that 

obligation.  Once you are in default, we may exercise this right 

without further notice to you.

 

FEES  MAY  BE  CHARGED  TO  ACCOUNTS  FOR  SERVICES  

TO MEMBERS.  

    Some items marked "free" are available to Members-In-Good-

Standing only.

   

 The fees in the table below were mailed to members of Cal

Feminist FCU on 11/25/09.  They were published on this Web 

site on 12/3/09.  They were mailed to members of Women's 

Southwest FCU on 1/28/10.  

 

 

Regular Amount 

Women's Southwest FCU FEES 

(What they are for)  

///////////////// MINIMUM  BALANCE  REQUIREMENT  TO:
$25 Open regular share account--and keep it open
$50 Open checking account--and keep it open

$251

average balance

Earn dividends on regular share account
$1,000 Take out a Share Certificate
///////////////// CHECKING ACCOUNT FEES:
free Monthly Fee
$20 Paid Overdrafts
$25 Returned check (in excess of overdraft protection)
///////////////// OTHER SERVICE FEES:
$2 each Account Activity Printout
free Account-opening fee 
$10/hour Account Reconciliation (one-hour minimum)
$10/hour Account Research (1-hour minimum)

free

ACH regular 

////////////// ACH returned (see "Returned Financial Transactions" below)

$10

ACH  if  we post contrary to instructions.

/////// Certified Mail (see "Send via Certified, Express Mail" below)  

$5

Dormant Account inactive 3 years CA, 5 yrs. TX, etc. 

//////////

DMV (non-dealer): if dealer won't handle title transfer on car, motor home, motorcycle (see "Time to transfer motor vehicle")

free

Education:  articles, pamphlets, worksheets, resources and tutoring on such topics as:   credit, money- management, car-buying.  Resources for such things as:  business loans & education; mortgage loans & education; tax-preparation; temporary housing, etc

$2/notice we have to send to you

Escheat notice (sent to depositors whose savings accounts are inactive for 2 - 2.5 years in California, 4 to 4.5 years in Texas, etc. Requirements vary by state of your residence.)

/////////// Excessive withdrawals on share account (see "Monthly" )
////////// Express Mail   (see "Send via Certified, Express Mail" below)   

//////////////////

FedEx (send an item to you in that manner) " " " " " " "-

varies   Items Sent for Collection
Varies Legal Process
//////////// Mail returned (see "Returned mail")
$5/month Monthly for 5 or more checks drawn on regular share account
$6 Resubmit (re-deposit) returned check

//////////  

Returned Financial Transactions 

$20      --ACH
$10      --Check or money order deposited in shares
$25      --Check or money order paid on loan

$5

Returned mail (that we had sent to you). When we send mail to the most current address** we have on file for you and the post office returns it to us for reasons such as these: "Forwarding Order Expired," "Undeliverable As Addressed," "Not At This Address," "Unable to Forward" and so on.   

$7 + cost

Send via Certified Mail, Express Mail, FedEx, UPS, etc. 

//////////

Share Certificate Early Withdrawal Penalty

90 days      --Term of 1 year (number of days of dividends)
120 days      --Term of 2 years (number of days of dividends)

///////////  

Statement Copy

$2/copy 

      --For current member

$24/hour       --For former member

$25

Stop payment  Order 

$50 minimum

Surety Bond (on top of Stop Payment Order fee if check was payable to a party other than the member)

$25 CA/ TX Time to transfer motor vehicle title if dealer does not (plus actual DMV fees.)
$99 other states

$19 

Western Union (Domestic)

$25

Western Union (International)
$19 Wire Transfer (Outgoing - Domestic)
$25 Wire Transfer (Outgoing - International)

 

**To find out how to change your address in keeping with our privacy-protection 

and fraud-prevention concerns, click on Address Change

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(c) Copyright 1998-2010 California Feminist FCU