Rate and Fee Schedule

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This Rate and Fee Schedule for all accounts sets forth certain conditions, rates, fees, and charges applicable to your regular share, club, share draft, and term share accounts at New Covenant Dominion Federal Credit Union (“NCDFCU,” “we,” “us,” or “our”). Recall that this schedule is incorporated as part of your Account Agreement with us. 

*The minimum daily balance applies only to share draft accounts & is determined by the account’s balance at the end of each business day; share draft accounts that fall below the minimum daily balance on any business day during the month are charged a maintenance fee on the last business day of the month. Minimum deposit and other minimum balance requirements differ from the requirement for NDCDFU members to maintain the par value of a share ($10) to maintain member status. Purchasing a share at par value is not the same as paying our one-time joining fee. Refer to our Account Agreement and bylaws or speak to a Credit Union employee for further info. 

Special Note for Share and Club Accounts: We reserve the right to require seven (7) days advance notice before permitting a withdrawal from all share and club accounts. Dividends are paid from current income and available earnings when declared by our board, after required transfers to reserves at the end of a dividend period. We do not guarantee that dividends will be paid to any account holder at the end of any dividend period. Dividends begin to accrue on cash deposits on the day of the deposit and on non-cash deposits (e.g., checks and electronic transfers) on the business day 

on which we receive credit for the funds. To calculate dividends and determine the minimum balance to obtain APY, we add the balance in the account for each day of the period and divide that figure by the number of days in the period (also known as the “average daily balance method”). Service fees may reduce earnings. Different dividend rules apply to term share accounts. We do not pay dividends on share draft accounts. 

Special Conditions for Term Share Accounts:

Transaction limitations; Dividends. After the account is opened, you may not make deposits into the account until the maturity date stated on the certificate. Dividends will be paid in the manner described in your certificate. 

Maturity date. Your account will generally mature after one year. However, when the term share account is used to collateralize a loan, the term of the term share account must match the term of the loan. 

Early withdrawal penalties. We may impose a penalty if you withdraw any of the funds before the maturity date. The penalty will equal three months' dividends on your deposit. The annual percentage yield is based on an assumption that dividends will remain in the account until maturity. A withdrawal will reduce earnings. 

Renewal. Your term share account will automatically renew at maturity. You will have a grace period of 10 business days after it matures to withdraw the funds in the account without being charged an early withdrawal penalty. 

Service Fees Applicable to All Accounts

* Interest rates depend on credit. Only members of NCDFCU are eligible to apply for and receive loans.