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At HCU we strive to provide the best possible financial services to meet member’s needs.

Share (Savings) Accounts

Dividend Rate Information:
The dividend rate and annual percentage yield may change monthly, as determined by the credit union board of directors.

Compounding and Crediting:
Dividends will be compounded monthly and will be credited to your account monthly. Dividends will be earned daily for each day on which the account balance equals or exceeds the minimum daily balance requirements for this account.

Dividend Period:
For this account type, the dividend period is monthly, for example the beginning date of the first dividend period of the calendar year is January 1 through January 31. All other dividend periods follow this same pattern of dates. The dividend rates and annual percentage yields are the rates and yield as of the last dividend declaration date as set forth in the separate rate schedule. If you close your account prior to payment of a dividend, you will not receive any accrued dividend.

Average Daily Balance Computation Method:
Dividends are calculated by applying a periodic rated to the average daily balance. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period.

Minimum Balance Requirements for Regular Shares Savings Account(s):
The minimum required to open this account is $5.00. The minimum daily balance required to maintain this account and receive the disclosed interest rate is $5.00.

Transaction Limitations:
During any month you may not make more than six (6) withdrawals or transfers to another Credit Union account of yours or to a third party by means of a preauthorized or automatic transfers; transfers authorized by phone, fax, or online; and transfers by check, debit card, or similar order payable to third parties. Other types of transfers and withdrawals, such as those made in person, by mail, or at an ATM can be made without limitation. If you exceed the transfer limitations herein, your account may be assessed fees and/or will be subject to closure.


Super Share Accounts

Tiered Rate Dividend Information:
The tiered interest dividend rate and annual percentage yield may change monthly, as determined by the credit union board of directors. See our “Account Disclosure Rate Supplement” supplied with this disclosure and made a part hereof for additional information and rates. Each Dividend rate will apply only to that portion of the account balance within each balance range.

Scheduled Tier Rates                    Daily Balance
TIER RATE I                                       $0.00 to $999.99
TIER RATE II                                      $1,000.00 – $9,999.99
TIER RATE III                                     $10,000.00 – $99,999.99
TIER RATE IV                                     $100,000.00 and above

Once a particular range is met for the account, the Dividend Rate and Annual Percentage Yield for that period will apply to the full balance of your account.

Compounding and Crediting:
Dividends will be compounded monthly and will be credited to your account monthly. Dividends will be earned daily for each day on which the account balance equals or exceeds the minimum daily balance requirements for this account.

Dividend Period:
For this account type, the dividend period is monthly, for example the beginning date of the first dividend period of the calendar year is January 1 through January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the last day of the dividend period. If you close your account prior to payment of a dividend, you will not receive any accrued dividend.

Average Daily Balance Computation Method:
Dividends are calculated by applying a periodic rated to the average daily balance. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period.

Minimum Balance Requirements for Super Share Account(s):
There is no minimum balance required to open this account. There is no minimum daily balance required to maintain this account and receive the disclosed interest.

Transaction Limitations:
During any month you may not make more than six (6) withdrawals or transfers to another Credit Union account of yours or to a third party by means of a preauthorized or automatic transfers; transfers authorized by phone, fax, or online; and transfers by check, debit card, or similar order payable to third parties. Other types of transfers and withdrawals, such as those made in person, by mail, or at an ATM can be made without limitation. If you exceed the transfer limitations herein, your account may be assessed fees and/or will be subject to closure.

Draft (Checking) Accounts

Tiered Rate Dividend Information:
The tiered interest dividend rate and annual percentage yield may change monthly, as determined by the credit union board of directors. See our “Account Disclosure Rate Supplement” supplied with this disclosure and made a part hereof for additional information and rates. Each Dividend rate will apply only to that portion of the account balance within each balance range.

Scheduled Tier Rates                    Daily Balance
TIER RATE I                                       $0.00 to $199.99
TIER RATE II                                      $200.00 and above

Once a particular range is met for the account, the Dividend Rate and Annual Percentage Yield for that period will apply to the full balance of your account.

Compounding and Crediting:
Dividends will be compounded monthly and will be credited to your account monthly. Dividends will be earned daily for each day on which the account balance equals or exceeds the minimum daily balance requirements for this account.

Dividend Period:
For this account type, the dividend period is monthly, for example the beginning date of the first dividend period of the calendar year is January 1 through January 31. All other dividend periods follow this same pattern of dates. The dividend rates and annual percentage yields are the rates and yield as of the last dividend declaration date as set forth in the separate rate schedule. If you close your account prior to payment of a dividend, you will not receive any accrued dividend.

Average Daily Balance Computation Method:
Dividends are calculated by applying a periodic rated to the average daily balance. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period.

Minimum Balance Requirements for Share Draft Account(s):
There is no minimum required to open this account. The minimum daily balance required to maintain this account and receive the disclosed interest rate is $200.00.

Transaction Limitations:
No transaction limitations apply to this account unless otherwise stated in the Common Features section of this Disclosure, the Electronic Funds Disclosure or Account Terms and Conditions Disclosures provided to you.

Youth Accounts

Dividend Rate Information:
The dividend rate and annual percentage yield may change monthly, as determined by the credit union board of directors.

Compounding and Crediting:
Dividends will be compounded monthly and will be credited to your account monthly. Dividends will be earned daily for each day on which the account balance equals or exceeds the minimum daily balance requirements for this account.

Dividend Period:
For this account type, the dividend period is monthly, for example the beginning date of the first dividend period of the calendar year is January 1 through January 31. All other dividend periods follow this same pattern of dates. The dividend rates and annual percentage yields are the rates and yield as of the last dividend declaration date as set forth in the separate rate schedule. If you close your account prior to payment of a dividend, you will not receive any accrued dividend.

Average Daily Balance Computation Method:
Dividends are calculated by applying a periodic rated to the average daily balance. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period.

Minimum Balance Requirements for Youth Savings Savings Account(s):
There is no minimum balance required to open this account. There is no minimum daily balance required to maintain this account and receive the disclosed interest. This account is available to members through the age of 21.

Transaction Limitations:
No transaction limitations apply to this account unless otherwise stated in the Common Features section of this Disclosure, the Electronic Funds Disclosure or Account Terms and Conditions Disclosures provided to you.

Christmas Accounts

Dividend Rate Information:
The dividend rate and annual percentage yield may change monthly, as determined by the credit union board of directors.

Compounding and Crediting:
Dividends will be compounded monthly and will be credited to your account monthly. Dividends will be earned daily for each day on which the account balance equals or exceeds the minimum daily balance requirements for this account.

Dividend Period:
For this account type, the dividend period is monthly, for example the beginning date of the first dividend period of the calendar year is January 1 through January 31. All other dividend periods follow this same pattern of dates. The dividend rates and annual percentage yields are the rates and yield as of the last dividend declaration date as set forth in the separate rate schedule. If you close your account prior to payment of a dividend, you will not receive any accrued dividend.

Average Daily Balance Computation Method:
Dividends are calculated by applying a periodic rated to the average daily balance. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period. 

Transaction Limitations:
The entire balance will be paid to you by check or transferred into another account of yours and subject thereafter to the terms and conditions of that account on or after November 1st and the account will remain open.  Christmas Savings Accounts, no withdrawals are allowed during the club period.  The maximum amount that can be deposited during each club period is $5,000.00.

Individual Retirement Account(s)

Dividend Rate Information:
The dividend rate and annual percentage yield may change monthly, as determined by the credit union board of directors.

Compounding and Crediting:
Dividends will be compounded monthly and will be credited to your account monthly. Dividends will be earned daily for each day on which the account balance equals or exceeds the minimum daily balance requirements for this account.

Dividend Period:
For this account type, the dividend period is monthly, for example the beginning date of the first dividend period of the calendar year is January 1 through January 31. All other dividend periods follow this same pattern of dates. The dividend rates and annual percentage yields are the rates and yield as of the last dividend declaration date as set forth in the separate rate schedule.

Average Daily Balance Computation Method:
Dividends are calculated by applying a periodic rated to the average daily balance. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period.

Minimum Balance Requirements for Individual Retirement Savings Account(s):
The minimum required to open this account is $100.00. There is no minimum daily balance required to maintain this account and receive the disclosed interest.

Transaction Limitations:
For Individual Retirement Accounts, you may not make any preauthorized, automatic or telephone transfers from your account at any time.

Health Savings Account(s)

Dividend Rate Information:
The dividend rate and annual percentage yield may change monthly, as determined by the credit union board of directors.

Compounding and Crediting:
Dividends will be compounded monthly and will be credited to your account monthly. Dividends will be earned daily for each day on which the account balance equals or exceeds the minimum daily balance requirements for this account.

Dividend Period:
For this account type, the dividend period is monthly, for example the beginning date of the first dividend period of the calendar year is January 1 through January 31. All other dividend periods follow this same pattern of dates. The dividend rates and annual percentage yields are the rates and yield as of the last dividend declaration date as set forth in the separate rate schedule. If you close your account prior to payment of a dividend, you will not receive any accrued dividend.

Average Daily Balance Computation Method:
Dividends are calculated by applying a periodic rated to the average daily balance. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period.

Minimum Balance Requirements for Health Savings Account(s):
There is no minimum balance required to open this account. There is no minimum daily balance required to maintain this account and receive the disclosed interest.

Transaction Limitations:
No transaction limitations apply to this account unless otherwise stated in the Common Features section of this Disclosure, the Electronic Funds Disclosure or Account Terms and Conditions Disclosures provided to you.

Common Features

All accounts offered by Hometown Credit Union share several common features. These features are:

Membership: You must complete purchase of a $5.00 par value share in the credit union (par value of one share is $5.00) and be a member in good standing. If the balance in your Share Account decreases below $5.00, the Credit Union may, at its option, close your account.
We reserve the right to suspend services to a member who is not in good standing, which include, but are not limited to, members who: (i) are delinquent on any loan with this Credit Union; (ii) have a Regular Share Savings balance of less than a $5.00 minimum; (iii) have caused any financial loss to this Credit Union; (iv) have any unresolved Non-Sufficient Fund Checks outstanding, whether in regard to a deposit or otherwise; (v) have not paid the Credit Union any fees or costs owing to it; or (vi) have a negative balance in any 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.

Accrual of Dividends on Noncash Deposits: Dividends will begin to accrue on the business day you deposit noncash (e.g. checks) to your account.

Federal Deposit Insurance: The National Credit Union Share Insurance Fund federally insures member accounts up to $250,000.00.

Transaction Limitations: We reserve the right to at any time require not less than seven days written notice, nor more than 60 days written notice before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Federal Reserve Regulation D.

Limits on Transaction Accounts: During any month you may not make more than six (6) withdrawals or transfers to another Credit Union account of yours or to a third party by means of a preauthorized or automatic transfers; transfers authorized by phone, fax, or online; and transfers by check, debit card, or similar order payable to third parties. Other types of transfers and withdrawals, such as those made in person, by mail, or at an ATM can be made without limitation. If you exceed the transfer limitations herein, your account may be assessed fees and/or will be subject to closure.

Fees: Please refer to the fee schedule below for additional information fees that may apply to your account.

NONTRANSFERABLE/NONNEGOTIABLE
Your account is nontransferable and nonnegotiable. The funds in your account (s) may not be pledged to secure any obligation of an owner, except obligations with this Credit Union.

Fee Schedule

Your account may be charged the listed fees.The following transaction limitations, if any, apply to your account.

Share Draft

Fee
Description
 
Amount
Clearing Fee a.k.a. Overdraft fee – charged when we pay a draft (check) or ACH (automatic clearing house) item that overdraws your account  

$15.00
$20.00 if > $2,000

Return Item a.k.a. NSF (non-sufficient funds) – charged when we return a draft or an ACH item as unpaid.   $20.00
Transfer Fee assessed when funds are transferred automatically to cover an overdraft. NOTE: No fee is assessed if you initiate a transfer before your account is overdrawn   $3.00
Stop Payment charged when a member instructs the Credit Union not to honor a specific draft or drafts   $5.00
Wire Transfer charged when a member receives or sends funds electronically to another party   $7.00
$25.00 International
Collection Item fee charged for payment of a draft held by the Credit Union until funds are available for payment   $5.00
Account Reconciliation fee charged for assistance by a Credit Union employee to a member for help in balancing their share draft account.  

$10.00/hour
$10.00 minimum

 

Other Fees

Membership Share  Required minimum share balance $5.00
Loan Application Fee charged for processing loan application. Does not include extra processing costs such as UCC filing, vehicle title transfer, and real estate fees. $20.00

Calculators

To help you to better manage your finances and day-to-day budgeting, we've provided several financial calculators. Take a few minutes to review your monthly sending needs. Next, see for yourself how putting away just a few dollars each month or paying a little bit extra on your credit card can really pay off for you. For your protection and ease of use, these calculators are designed to run locally on your PC.