Certificate Rates

Effective Date: March 12, 2012

JOURNEY, ZENITH, PINNACLE and HORIZON Account members receive an additional increase to the rates shown below. JOURNEY members receive a .10% APR* increase, ZENITH members receive a .20% APR* increase and PINNACLE and HORIZON members receive a .30% APR* increase on up to the first $50,000.00 on deposit.

Fixed Term & IRA Certificate Rates and Terms

Length of Term

APR*

APY**

Minimum Opening Balance ($)

6 Months 0.200 0.200 1,000.00
0.200 0.200 5,000.00
0.400 0.400 20,000.00
0.400 0.400 50,000.00
12 Months 0.300 0.300 1,000.00
0.300 0.300 5,000.00
0.500 0.500 20,000.00
0.500 0.500 50,000.00
24 Months 0.400 0.400 1,000.00
0.400 0.400 5,000.00
0.600 0.600 20,000.00
0.600 0.600 50,000.00

*Annual Percentage Rate **Annual Percentage Yield

Easy $ave Certificate Rates and Terms

Our EASY $AVE CD makes it EASY for you to save money! The minimum opening balance is only $100! And you add to this CD – a minimum automatic deposit of $20 month (or $10 per paycheck).

Length of Term

APR*

APY**

Minimum Opening Balance ($)

Maximum Balance ($)

15 Months 0.30 0.32 100.00 5,000.00
30 Months 0.40 0.42 100.00 5,000.00

*Annual Percentage Rate **Annual Percentage Yield

Discovery & Adventure Accounts Add On Certificate Rates and Terms

Our special Add On CD for our Discovery and Adventure Accounts encourages our younger members to learn the value of saving money.

Length of Term

APR*

APY**

Minimum Opening Balance ($)

12 Months 0.30 0.32 50.00

*Annual Percentage Rate **Annual Percentage Yield

Truth-in-savings Account Disclosures

  1. Rate Information – The Dividend Rates and Annual Percentage Yields on your accounts are set forth above. The Annual Percentage Yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the Dividend Rate and frequency of compounding for an annual period. The Dividend Rate and Annual Percentage Yield are fixed and will be in effect for the term of the Account. The Annual Percentage Yield is based on an assumption that dividends will remain on deposit until maturity. A withdrawal of dividends will reduce earnings.
  2. Compounding and Crediting – Dividends will be compounded and credited quarterly. The Dividend Period begins on the first calendar day of the quarter and ends on the last calendar day of the quarter.
  3. Balance Information – The minimum balance required to open each account is set forth above. Dividends are calculated by the daily balance method, which applies a daily periodic rate to the principal in the account each day.
  4. Accrual of Dividends – Dividends begin to accrue on cash deposits on the business day you make the deposit to your account. Dividends will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account.
  5. Transaction Limitations – After your account is opened, you may make withdrawals of dividends from your account, but you may not make additional deposits.
  6. Maturity – Your account will mature within the term set forth above or on the maturity date set forth on your Certificate Account Receipt or Renewal Notice.
  7. Early Withdrawal Penalty – We may impose a penalty if you withdraw any of the principal before the maturity date.
    1. Amount of Penalty – The amount of the early withdrawal penalty is 180 days’ dividends.
    2. How the Penalty Works – The penalty is calculated as a forfeiture of the lesser of:
      1. 180 days dividends, or
      2. the dividends that have been earned on the amount withdrawn since the date of issuance.
    3. Exceptions to Early Withdrawal Penalties – At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances:
      1. When an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction.
      2. Where the account is an Individual Retirement Account (IRA) and any portion is paid within seven (7) days after establishment; or where the account is an IRA and the owner attains age 59 – or becomes disabled.
  8. Renewal Policy – For a Certificate account, your account will automatically renew for another term upon maturity, and you have a grace period of ten (10) days after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty. For Special Certificates your certificate is not automatically renewed.
  9. Non-transferable/Non-negotiable – Your account is non-transferable and non-negotiable. The funds in your account may not be pledged to secure any obligation of an owner, except obligations of the Credit Union.

This Rate and Fee Schedule sets forth current conditions, rates, fees, and charges applicable to your Certificate accounts at Cutting Edge Federal Credit Union at this time. The Credit Union may offer other rates and fees or amend the rates and fee contained in this Schedule from time to time. Each account holder agrees to the terms set forth on this Rate and Fee Schedule and acknowledges that it is a part of the Membership and Account Agreement.