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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 |
0.75%
|
Dividend Rate as of Last Dividend Declaration Date |
1.00%
|
|
Annual Percentage Yield (APY) as of Last Dividend DeclarationDate |
0.75% |
Annual Percentage Yield (APY) as of Last Dividend Declaration Date |
1.00% | |
Prospective Dividend Rate | 0.75% | Prospective Dividend Rate | 1.00% | |
Prospective APY | 0.75% | Prospective APY | 1.00% | |
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.
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.
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 |
Deposited Items Returned Fee (when final settlement is not received) | $25.00 per item |
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 | 5% to 18% | Non-Refundable Personal Loan Application Fee | $40.00 | |
Secured Loan | 4% | Non-Refundable Vehicle Loan Application Fee | $75.00 | |
Vehicle Loan | 2.5% to 18% | 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 |
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Interest Rates on Small Business Loan Products |
Fees applicable to Small Business Loan Products |
|||
Unsecured Loan | 5% to 18% | Non-Refundable Small Business Loan application fee | $100.00 | |
Secured Loan | 4% | Origination Fee | 2% - 3.5% | |
Vehicle Loan | 2.5% to 18% | 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) |
* Interest rates depend on credit. Only members of NCDFCU are eligible to apply for and receive loans.
We offer helpful lending solutions, convenient banking, and financial counseling services to our members.
We are a member-owned, low income designated, minority depository, certified community development financial institution serving our community.