Members should verify current official rates with the Credit Union office.

The Credit Union makes every effort to provide up-to-date information on the web site. However, the Credit Union's official rate disclosures are available only at the Credit Union office.

Membership Requirement: Credit Union services are available only to members. To become a member of the FRB Federal Credit Union you must be within the field of membership. You must purchase a $5 Share to be maintained in your Share Savings Account.

Rate Information: The Dividend Rate and the Annual Percentage Yield on share accounts are listed above. The Annual Percentage Yield (APY) is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and the frequency of compounding for a 365-day period. The Dividend Rate and the Annual Percentage Yield may change every month as determined by the FRB Federal Credit Union Board of Directors.

Nature of Dividends: Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period. The Dividend Rate and APY are the prospective rates and yields that the FRB FCU anticipates paying for the applicable dividend period.

Dividend Calculation: Dividends are calculated using the daily balance method. This method applies a daily periodic rate to the balance in the account at the end of each day.

Dividend Accrual: Dividends begin to accrue on cash and non-cash deposits, such as checks, on the business day you make your deposit.

Compounding and Crediting: Dividends will be compounded daily and credited monthly. The dividend period is one month. The beginning date of the first dividend period of the calendar year is January 1, and the ending date is January 31. All other dividend periods follow this pattern of dates. The dividend declaration date follows the end date of a dividend period and for the example is January 31. The dividend declaration date is the date the FRB Federal Credit Union Board of Directors declares a dividend for the preceding dividend period.

Effects of Closing an Account: If you close your account before dividends are paid, you will not be paid the accrued dividends for the period.

Minimum Balance Requirements: To avoid a service fee, you must maintain a minimum daily balance of $25 in your Share Savings Account.If the daily balance falls below the minimum during any day, you will be charged a service fee of $2 for the period.

To earn the annual percentage rate disclosed, you must maintain a minimum daily balance of $5 in your Share Savings Account for each day of the dividend period. You will not earn dividends for any day that your balance drops below $5 but will earn dividends on the entire balance in your account for each day your balance is at or above the minimum.

Transaction Limits: For a Share Savings Account in which transfer limitations apply, no more than six (6) preauthorized, automatic, or telephone transfers may be made from these accounts to another account of yours or to a third party in any one month. No more than three of these six transfers may be made by check, draft, or debit card to a third party. If you exceed these limitations your account may be subject to a fee or be closed.

Funds Availability

Members should verify current official rates with the Credit Union office.

The Credit Union makes every effort to provide up-to-date information on the web site. However, the Credit Union's official rate disclosures are available only at the Credit Union office.

Prospective Rates and Terms -- Updated August 1, 2007

Membership Requirement: Credit Union services are available only to members. To become a member of the FRB Federal Credit Union you must be within the field of membership. You will be required to purchase a $5 Share to be maintained in your Share Savings Account.

Nature of Dividends: Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period. The Dividend Rate and APY are the prospective rates and yields that the FRB FCU anticipates paying for the applicable dividend period.

Rate Information: The Dividend Rate and the Annual Percentage Yield on share draft checking accounts are listed above. The Annual Percentage Yield (APY) is a percentage rate that reflects the total amount of dividends paid on an account based on the dividend rate and the frequency of compounding for a 365-day period. The Dividend Rate and the Annual Percentage Yield may change every month as determined by the FRB Federal Credit Union Board of Directors.

Dividend Calculation: Dividends are calculated using the daily balance method. This method applies a daily periodic rate to the balance in the account at the end of each day.

Dividend Accrual: Dividends begin to accrue on cash and non-cash deposits, such as checks, on the business day you make your deposit.

Compounding and Crediting:Dividends will be compounded daily and credited monthly. The dividend period is one month. The beginning date of the first dividend period of the calendar year is January 1, and the ending date is January 31. All other dividend periods follow this pattern of dates. The dividend declaration date follows the end date of a dividend period and for the example is January 31. The dividend declaration date is the date the FRB Federal Credit Union Board of Directors declares a dividend for the preceding dividend period.

Effects of Closing an Account: If you close your account before dividends are paid, you will not be paid the accrued dividends for the period.

Minimum Balance Requirements: None

Transaction Limitations: None

Fees and Charges

For a complete listing, please refer to the Fees.

Funds Availability

Dividend rates are established by the Board of Directors and are subject to change. The dividend rates disclosed are updated regularly but members should verify current official rates available at the Credit Union office.

Membership Requirement: Credit Union services are available only to members. To become a member of the FRB Federal Credit Union you must be within the field of membership. You must purchase a $5.00 Share to be maintained in your Prime Share Account.

Minimum Balance Requirements: The minimum opening balance for a Term Share Account is $1,000.

Rate Information: The Dividend Rate and Annual Percentage Yield is a percentage rate that affects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for a 365-day period. The Dividend Rate and Annual Percentage Yield will remain fixed during the term of the agreement.

Nature of Dividends: Dividends are paid at maturity from current income and available earnings after required transfers to reserves at the end of the dividend period. The dividend rate and APY are the prospective rates and yields that the FRB FCU anticipates paying for the applicable dividend period.

Compounding and Crediting: Dividends will be compounded daily and credited and paid at maturity. The dividend period is the term of the agreement. The beginning date of the dividend periods is the date of issuance and the ending date is the date of maturity.

Early Withdrawal Penalties: A substantial penalty is imposed if funds are withdrawn before the maturity date. The penalty is a forfeiture of earned dividends. The principal amount upon which earned dividends are forfeited is the amount withdrawn unless the amount withdrawn reduces the balance below $1,000. In that event the principal amount upon which earned dividends are forfeited is the entire amount of the certificate. If the maturity of the certificate is one year or less, the forfeiture of dividends is equal to the smaller of the following two amounts:  dividends since the date of issuance or renewal, or 90 days of dividends. If the maturity of the certificate is more than one year, the forfeiture of dividends is equal to the smaller of the following two amounts: dividends since the date of issuance or renewal, or 160 days of dividends. The penalty does not apply to early withdrawals subsequent to the death of the primary owner.

Maturity Notification: The credit union will give the owners(s) a ten day notice prior to maturity. The notice will inform the owner(s) of the terms under which the credit union proposed to make the funds available to the owner(s). Certificate funds will be handled by the credit union in the manner set out in the notice unless the owner(s) notifies the credit union to the contrary on or before the maturity date.