Disclosure for Money Market Account


Cincinnati Police Federal Credit Union
959 w 8th St
Cincinnati, Ohio 45203
513-381-2677

Effective Date: 3/1/2014
Disclosure of Dividends, Fees and Account Terms for the Money Market Account

Rate Information & Minimum Balance Requirements
• The Annual Percentage Yield is a percentage that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period.
• You must deposit $2000.00 to open this account.
• The dividend rate for your account is .10% with an annual percentage yield of .10%.
• If the balance falls below $2000.00 your dividend rate will be the same as our Regular Share Account. The dividend rate for your account will be .10% with an annual percentage yield of .10%.
• If your balance is above $10,000.00 to $24,999.99 the dividend rate for you account will be .15% with an annual percentage yield of .15%.
• If your balance is above $25,0000 to 49,999.99 the dividend rate for your account will be .20% with an annual percentage yield of .20%.
• If your balance is above $50,000.00 the dividend rate for your account will be .30% with an annual percentage yield of .30%.
• A minimum daily balance of $50.00 is required in order to earn the stated APY for the dividend period. If the minimum daily balance is not met, you will not earn the stated Annual Percentage Yield.
• Your dividend rate and annual percentage yield may change at any time determined by our Board of Directors.
• The dividends and Annual Percentage yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable divided period.
• Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period.

Balance Computation Method
• We use the daily balance method to calculate dividends on you account. This method applies a daily periodic rate to the collected principal in the account each day.

Compounding and Crediting
• The Dividend Period is the period of time at the end of which an account earns dividend credit. Dividends on your account will be compounded daily and credited to your account monthly. The Dividend Period begins on the first calendar day of the period and ends on the last calendar day of the period.
• If you close your money market account before dividends are credited, you will not receive accrued dividends.

Accrual of interest on Deposits Other than Cash
• Dividends will begin to accrue on non-cash deposits (e.g. checks) on the business day you make the deposit to your account.

Transaction Limitations
• This account is limited to no more than six (6) preauthorized , automatic, or telephone transfers may be made from these accounts to another account of yours or to a third party in any month, and no more than three (3) of these six (6) transfers may be by check, draft, or debit card to a third party. If you exceed these limitations, your account may be subject to a fee or be closed.

Credit Union Membership

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.