Cincinnati Police Federal Credit Union
959 w 8th St
Cincinnati, Ohio 45203
Effective Date: 01/31/2015
Disclosure of Dividends, Fees and Account Terms for the Certificate of Deposits.
Credit Union Membership
The annual percentage yield assumes interest remains on deposit until
maturity. Any payment of interest to you prior to maturity will reduce your
Interest for your account will be compounded continuously. Interest will
be paid/credited monthly.
Interest begins to accrue on the calendar day your deposit noncash item
(for example checks).
Minimum Balance Requirements
You must deposit $1000.00 to open this account.
You must maintain a minimum balance of $1000.00 in your account every day
to obtain the annual percentage yield.
Balance Computation Method
We use the daily balance method to calculate the interest on your account.
This method applies a daily periodic rate to the principal in the account each day.
After the account is opened, you may not make deposits or withdraws form the
account until the maturity date.
Early Withdrawal Penalty
If you withdraw any principal before the maturity date, your account will
assessed a penalty that is equal to all interest that could have been earned during
a period equal to all interest that could have been earned during a period equal to
one half of the term. If the penalty to be applied exceeds the amount of interest
earned at the time of withdrawal, then the portion of the penalty in excess of the
interest earned shall be deducted from the principal amount in determining the
The account will automatically renewed for the amount then on deposit and
for the same term and at the Cincinnati Police Federal Credit Union's prevailing
interest rate for such type of deposit and term.
You have a grace period of ten (10) calendar days after the maturity date
to withdraw the funds without being charged a penalty. If you choose to withdraw
the funds during the original or any subsequent grace period, no interest will be
paid during the respective grace period.
The information is accurate of today's date and is subject to change without notice.
Signature (accepting the above terms)____________________________________
Membership Share:………………………………………… $5.00 par value, must be employed by the state
or local government within Hamilton, Butler, Warren and Clermont Counties, Ohio
and Campbell, Kenton, and Boone Counties, Kentucky and Dearborn County, Indiana.