|
ACCOUNT
INFORMATION Effective 2/1/12 |
|
General
Account Terms |
ALL
ACCOUNTS: Account Dividends (Interest) are
calculated based on the Average Monthly Account Balance. Dividends are
paid and credited on the last day of each month. The Annual Percentage
Rate (APR) and the Annual Percentage Yield (APY) for each Deposit
Accounts is listed below. OTHER CHARGES: Please refer
to fee schedule for additional charges and fees. |
|
Account
Service
Type |
* For current rates
call 847-670-0456
ext. 3
Balance Range |
apr
&
APY |
DividenD
Minimum Balance |
Balance
To Open & Maintain
Account |
Average Monthly
Balance To Avoid Fee |
Early
Withdrawal Penalty |
Account
Withdrawal Restrictions
|
|
Primary
Savings |
$
100.01 - 2,500
$
2,500.01 - 5,000
$
5,000.01 - 10,000
Over
$10,000 |
*
*
*
* |
$100.00 |
$50.00 |
$250.00
(1)
If balance falls below average minimum, the fee is $3.00 per Month |
Accounts closed with-in 90 days are
subject to a $20 Processing Fee |
Minimum Check Withdrawal Amount $25.
$2 fee for each check withdrawal in excess of 2 per mo. |
|
Secondary
Savings
|
$ 100.01 - 2,500
*
2,500.01 - 5,000
* 5,000.01 -
10,000
Over
$10,000 |
*
*
*
* |
$100.00 |
$.01, Must
Maintain a Savings Acct. |
None |
None |
None |
|
Christmas Club |
$.01 -
and over |
* |
$.01 |
$.01, Must
Maintain a Savings Acct. |
None |
Withdrawal prior to Disbursement
Date are assessed $10 processing fee. |
Funds are
disbursed
Annually, Nov. 1st (Note 3) |
|
Vacation Club |
$.01 -
and over |
* |
$.01 |
$.01, Must
Maintain a Savings Acct. |
None |
2 Free per year. Addl. withdrawals
are assessed a $10 processing fee. |
Time of withdrawal is determined by
member. |
|
Regular Checking
|
$100.01-$2,500
* Over $2,500 |
*
* |
$100.00 |
None. Must
Maintain a Savings Acct. |
$250.00
(1)
If balance falls below average
minimum, fee is $5.00 per month |
Account closed with-in 90 days are
subject to a $20 Fee |
A check must be used to withdraw
funds from
checking. |
|
Business Checking
|
$100.01-$2,500
* Over $2,500 |
*
* |
$100.00 |
None. Must
Maintain a Savings Acct. |
$250.00
(1)
If balance falls below average
minimum, fee is $5.00 per month |
Account closed with-in 90 days are
subject to a $20 Fee |
A check must be used to withdraw
funds from
checking. |
|
Premier Checking
(Direct Deposit Required) |
$100.01-$2,500
$ 2,500.01
- 5,000
Over
$5,000 |
*
*
* |
$100.00 |
None. Must
Maintain a Savings Acct. |
None |
Account closed with-in 90 days are
subject to a $20 Fee |
A check must be used to withdraw
funds from
checking. |
|
|
$100.01-$2,500
$ 2,500.01
- 5,000
Over
$5,000 |
*
*
* |
$100.00 |
None. Must
Maintain a Savings Acct. |
None |
Account closed with-in 90 days are
subject to a $20 Fee |
A check must be used to withdraw
funds from
checking. |
|
VIP Money market
Checking
Note (2) |
For
current rates
call
847-670-0456 ext. 3,
Or Refer
to VIP Money Market Brochure |
|
$100.00 |
None. Must
Maintain a Savings Acct. |
None |
3 Free check withdrawals per month.
$15 fee for additional withdrawals |
Checks and
transfers must be at least $500.
|
|
Share Certificate
Accounts |
For
current rates
call
847-670-0456 ext. 3,
Or Refer
to Share Certificate Brochure |
|
$2,500.00 |
$2,500.00 / Must
Maintain a Savings Acct. |
None |
90 Days Dividend Penalty |
At maturity.
No penalty
assessed
with-in 7 days after CD Maturity |
|
IRA & Roth
IRA Certificate
Accounts |
For
current rates
call
847-670-0456 ext. 3,
Or Refer
to Share Certificate Brochure |
|
$1,000.00 |
$1,000.00 / Must Maintain a Savings
Acct. |
None |
90 Days Dividend Penalty.
Addl. IRS penalty may apply.
|
At maturity.
Restrictions
governed by IRS regulations |
|
IRA & Roth Ira Savings Account |
$.01 -
and over *
* |
* |
$.01 |
$.01, Must
Maintain a Savings Acct. |
None |
None. Early withdrawal penalty
governed by IRS regulations |
None. Withdrawals and restrictions
governed by IRS regulations |
|
Atm/debit card |
METRO’s ATM/DEBIT card is also a Visa Check Card. Our
Visa Check and Cash Card is valid at millions of locations nationwide.
Accessible throughout the
VISA, STAR, ALLPOINT, CO-OP and MEMBER ACCESS NETWORKS.
The Visa Check card allows access to a savings and
checking account. Refer to fee schedule for list of ATM/Debit
transaction fees. A checking account is required.
All ATM withdrawals,
transfers and inquiries are FREE when you use your METRO ATM card at any
METRO ATM location.
|
|
Free 24-Hour
Account Access |
Quick Access to:
Account Balances, Account
History Transfer Funds, Schedule Transfers and Withdraw Funds
By Telephone
(847)670-7070
By Computer
https://summit-ol.com/fi403/portal/faces/Portal.jsp
|
|
Note (1)
[Savings and
Checking] Waivers - Members under 18 or over age 59 are exempt
from the $250.00 average monthly balance requirement. However,
exempt members are required to maintain at least $50.00 in their
account at all times to remain a member, otherwise a $3.00 service
charge will be assessed to savings and a $5.00 to checking.
Note
(2) [All Accounts] Metro pays dividends monthly, on the last day of each
month. Dividends are declared on the 1st day of each month and are in
effect until the last day of the month. The stated APY assumes
dividends remain on deposit in the account. Dividends begin to accrue
on the day of deposit for both cash and non-cash (checks) deposits.
Account withdrawals and or penalties or fees may reduce earnings and the
APY. Dividend rates are subject to change monthly. Current rates are
posted in METRO’s Lobby, or for more information and current rates call
(847) 670-0456. |
|
Note (3)
[Christmas
Club]
Deposits accepted continuously - Payout
early November.
Statements:
The following account(s) or transactions
will generate a complete monthly statement of all activity: Checking
Accounts, ATM Transactions, CALL-24 Transactions, Electronic Funds
Transfers (EFT Transactions). All other types of Accounts and
Transactions will receive a Quarterly Statement.
Insurance:
Member Accounts in METRO Federal Credit
Union are federally insured by the National Credit Union Administration,
an agency of the Federal Government.
Internet:
Account information is also available on
the Internet at
http://www.mcu.org . If you have any
questions please call (847) 670-0456.
NO
Surcharge ATM list:
http://www.surchargefreeatm.com
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