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. 

Regular Share (Savings) Accounts   Club (Savings) Accounts

Dividend Rate as of Last

Dividend Declaration Date

1.00%

 

 

 

Dividend Rate as of Last

Dividend Declaration Date

1.00%

Annual Percentage Yield (APY)

as of Last Dividend

Declaration Date

1.00%

Annual Percentage Yield (APY)

as of Last Dividend

Declaration Date

1.00%
Prospective Dividend Rate 1.00% Prospective Dividend Rate 1.25%
Prospective APY 1.00% Prospective APY 1.25%
Dividends Compounded Daily Dividends Compounded Daily
Dividends Credited

At close of a

dividend

period.

Dividends Credited

At close of a

dividend

period.

(No dividends will be paid on accounts closed before accrued dividends are credited.)

(No dividends will be paid on accounts closed before accrued dividends are credited.)

Dividend Period Annually Dividend Period Quarterly
Minimum Opening Deposit* $20.00 Minimum Opening Deposit* $40.00
Minimum Balance* $10.00 Minimum Balance* $10.00
Minimum Balance to Obtain   APY* $100.00 Minimum Balance to Obtain   APY* $200.00
Share Draft (Checking) Accounts Share Certificate (Term Share) Accounts

Corporate

Non-

Member*

Minimum

Opening

Deposit

$20.00  

Minimum

Opening

Deposit*

$1000 $25,000 $100,000 $1,000*

Minimum

Daily

Balance*

$100.00  

Maximum

Balance

$24,999 $99,999 None 249,000*
     

Minimum Balance

to obtain APY*

$1,000 $25,000 $100,000 $1,000*

Dividend Rate as of

Last Dividend

Declaration Date

N/A

 

 

 

Dividend Rate as of

Last Dividend

Declaration Date

1.00%

 

 

N/A N/A N/A*

Annual Percentage

Yield (APY) as of

Last Dividend       

Declaration Date

N/A

 

 

Annual Percentage

Yield (APY) as of

Last Dividend

Declaration Date

1.00% N/A N/A N/A*

Prospective

Dividend Rate

N/A

Prospective

Dividend Rate

4.00% 4.5% 5.00% 4.00%*
Prospective Annual  Percentage Yield N/A Prospective Annual Percentage Yield 4.00% 4.5% 5.00% 4.00%*

Dividends

Compounded

N/A

Dividends

Compounded

Daily
Dividends Credited N/A

 

 

Dividends Credited At close of a dividend period. (No dividends will be paid on accounts closed before accrued dividends are credited.)
   

Dividend Period

N/A Dividend Period Quarterly
               

*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

One-Time Joining Fee $10.00 (Non-Refundable)
Share Draft Maintenance Fee (when minimum daily balance is not met) $3.50
ATM Fee (for withdrawals at our ATM and for deposits &     withdrawals at ATMs that participate in the Shazam® or    MoneyPass® Networks) $0 (Note: ATM operators may         charge fees for balance inquiries.  Surcharge fees apply at out-of-network ATMs).
Foreign Transaction Fee (for all international debit card       transactions) .2% per transaction
Outgoing Wire Transfer Fee – Domestic // International $30.00 per item // $45.00 per item
Overdraft Courtesy Pay Fee $25.00 per overdraft
Overdraft Protection Fee $5.00 per transfer
Insufficient Funds Fee (when overdraft coverage is not        available) $25.00 per item
Gift checks & expedited delivery of bill payments, P2P         transfers, and accountholder ACH transactions via Online  Banking Third-party fees; refer to               on-screen instructions when       placing order
Stop Payment Fee (for checks and eligible electronic funds transfers) $25.00 per item
Check Orders & Other Supplies Supplier’s price plus tax &             shipping
Check Cashing Fee $2.00 per check
Cashier’s Checks $3.00 per check
Rejected Check Fee (for improperly formatted checks) $2.00 per check
Check/Deposit Slip/Withdrawal Slip Photocopy Fee $2.00 per inquiry
Paper Statement Fee (does not apply to accountholders     who are over 65, under 18, or who receive eStatements) $2.00 per statement
Statement Copies Fee (for statements older than 1 year) $5.00 per statement
Incorrect Address Fee $5.00 per returned statement

Dormant Account Fee (assessed after 1 year of inactivity)

$7.00 per month
Notary Fee

$2.00 per instance

ITIN Application Fee $25 per application

 

Interest Rates on Consumer Loan Products   Fees Applicable to Consumer Loan Products
Unsecured Loan 9% to 18%   Non-Refundable            Personal Loan             Application Fee $40.00
Secured Loan 5% Non-Refundable            Vehicle Loan                Application Fee $75.00 
Vehicle Loan 4.99% to 13% Non-Refundable Credit Builder Loan                 Application Fee $20
Default Rate 3% above stated  rate Late Payment Fee $25.00 (for payment after 10th day of the month)
     
      Skip Payment                Assistance Fee

$25.00

 

Interest Rates on Small Business

Loan Products

 

Fees applicable to Small Business

 Loan Products

Unsecured Loan 8.5% to 11%   Non-Refundable Small Business Loan               Application Fee $100.00
      Origination Fee 2% - 3.5%
Vehicle Loan 5% to 12%   Loss Ratio Requirement Up to 3.5%
Default Rate

5% above state    rate

  Late Payment Fee $35.00 (for payment after 10th day of the month)

Loan Modification

Application Fee

$375      

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

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