Consumer Savings Rate and Fee Schedule Details
Rates Effective Date: July 1, 2023
This Rate and Fee Schedule sets forth current conditions, rates, fees and charges applicable to your deposit accounts at Washington State Employees Credit Union at this time. The Credit Union may offer other rates or amend the rates contained in this schedule from time to time. For current rates please call 800.562.0999. Each account holder agrees to the terms set forth on this Rate and Fee Schedule and acknowledges that it is a part of the Consumer Account Agreement. The National Credit Union Administration insures your savings, checking, and share certificates with WSECU up to $250,000 on individual accounts and up to $250,000 for Individual Retirement Accounts through the NCUA Share Insurance Fund. For additional information please visit http://www.ncua.gov/
Consumer Savings Rate and Fee Schedule Disclaimers
TRUTH-IN-SAVINGS ACCOUNT DISCLOSURES: The rates appearing in this schedule are accurate and effective as of the effective date indicated above. (Except as specifically described, the following disclosures apply to all of the accounts.)
Rate Information: The Dividend Rate and Annual Percentage Yield (APY) on your accounts are set forth above. The Dividend Rate and APY may change monthly as determined by the Management Pricing Committee.
- Nature of Dividends: Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period. The Dividend Rate and Annual Percentage Yield set forth above are accurate as of the Effective Date which the Credit Union anticipates paying for the applicable dividend period.
- Compounding and Crediting: Dividends will be compounded and credited monthly. The Dividend Period for all accounts is monthly beginning on the first calendar day of the month and ending on the last calendar day of the month.
- Accrual of Dividends: Dividends will begin to accrue on all deposits on the day you make the deposit to your account. If you close your account before accrued dividends are credited, accrued dividends will not be paid.
Balance Information: The average minimum balance required to earn dividends and obtain the APY on all accounts and to avoid interest checking monthly fees is set forth above. Dividends are calculated by the Average Daily Balance method which applies a daily periodic rate to the Average Daily Balance in the account for the period. The Average Daily Balance is determined by adding the principle in the account for each day of the period and dividing that sum by the number of days in the period. If the average daily balance falls below the established minimum of $2,000.00, dividends will not be paid at month end and fees may apply on Interest Checking. Account Limitations: The account limitations for each account are set forth above. For non-dividend bearing savings accounts pending our receiving valid tax identification number, no other services may be added. Money Mover II accounts require maintenance of a minimum qualifying certificate (12-months or longer/ $2,000 minimum). Prime Times savings accounts require maintenance of a minimum qualifying share certificate (12-months or longer/ $2,000 minimum) and be at least 50 years of age. All IRA accounts are subject to IRS regulations. Money Market: Dividends will pay based on the tier your Average Daily Balance falls within on the last day of the month. A maximum of six electronic transfers (e.g., checks, Online Banking, by phone, pre-authorized or automatic transfers and payments) per month are allowed. Fee Waived: For WSU students participating in the WSECU-WSU Student Membership/CougarCard Plus Program. Courtesy Pay: There is a daily fee cap of no more than five (5) Courtesy Pay fees a day. If the account is less than $10.00 negative after the Courtesy Pay transaction posts, no fee will be charged. WSECU Balanced Checking is not eligible for Courtesy Pay. Check Copy Fees: Must provide the check number and clear date or the research fee applies. Inactive Account Fees: Applies to accounts that have been inactive for 15 months or more. Certain exceptions may apply. Annual Percentage Yield (APY): Fees may reduce earnings. APY is based on a $1,000 assumed deposit.