Consumer Rate and Fee Schedule
(Revised July 2020)

 

Please review this document carefully and download or print a copy for your reference. You can access a PDF version of this document that you can download or print by clicking here.

 

This Consumer 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”). This schedule is incorporated as part of your Consumer Account Agreement with us.

 

 

Regular Share (Savings) Accounts Club (Savings) Accounts
Dividend Rate as of Last Dividend Declaration Date 0.20%

 

Dividend Rate as of Last Dividend Declaration Date 0.30%

 

Annual Percentage Yield (APY) as of Last Dividend Declaration Date 0.20% Annual Percentage Yield (APY) as of Last Dividend Declaration Date 0.30%
Prospective Dividend Rate 0.30% Prospective Dividend Rate 0.35%
Prospective APY 0.30% Prospective APY 0.35%
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 Annually
Minimum Opening Deposit – Par Value* $20.00 Minimum Opening Deposit – Par Value* $40.00
Minimum Monthly Balance* $10.00 Minimum Monthly 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
Dividend Rate as of Last Dividend Declaration Date N/A Dividend Rate as of Last Dividend Declaration Date .50%

 

Annual Percentage Yield (APY) as of Last Dividend Declaration Date N/A Annual Percentage Yield (APY) as of Last Dividend Declaration Date .50%
Prospective Dividend Rate N/A Prospective Dividend Rate .25%
Prospective Annual Percentage Yield N/A Prospective Annual Percentage Yield .25%
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.) (No dividends will be paid on accounts closed before accrued dividends are credited.)
Dividend Period N/A Dividend Period Quarterly
Minimum Opening Deposit* $20.00 Minimum Opening Deposit-Par Value* $1,000.00
Minimum Monthly Balance* -None Minimum Monthly Balance* None
Minimum Balance to Obtain APY* N/A Minimum Balance to Obtain APY* $1,000.00

 

Special Note Regarding Dividends:  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. As such, we do not guarantee that dividends will be paid 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 the earnings on an account. We do not pay dividends on share draft accounts.

*Minimum deposit and other minimum balance requirements are separate and distinct from the requirement for NDCDFU members to maintain the par value of a share in order to maintain their status as a member. The par value of a share is $10. 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 information.

 

Special Note on Transaction Limitations for Share and Club Accounts: During any statement period, you may not make more than six (6) withdrawals or transfers to another NCDFCU account you own or to a third party through a preauthorized or automatic transfer or by telephone. No more than three (3) of the six (6) transfers may be made by check, draft, debit card (if applicable) or similar order to a third party. If you exceed these transfer limitations in any statement period, your account may be closed or converted to a share draft account, in our sole discretion. We reserve the right to require seven (7) days advance notice before permitting a withdrawal from all share and club accounts.

 

Special Conditions for Term Share Accounts:

Transaction limitations. After the account is opened, you may not make deposits into the account until the maturity date stated on the certificate.

Maturity date. Your account will mature after one year.

Early withdrawal penalties.  We will not impose penalties if you withdraw any funds before the maturity date during the coronavirus outbreak and will notify you when early withdrawal penalties are reinstituted. The annual percentage yield assumes 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 (waived with e-Statement enrollment AND

1)ending balance of at least $200 or 2) one ACH deposit of at least $200)

$2.50 per month as of June 2020
Prepaid Card Fees Refer to prepaid card disclosures
ATM Fee (for ATMs located at a credit union branch) FREE when using our prepaid card; $1.75 per withdrawal otherwise
Outgoing Wire Transfer Fee – Domestic $30.00 per item
Outgoing Wire Transfer Fee – International $55.00 per item
Outgoing ACH Origination Fee $0.10 each, after 3 free ACHs per month
Outgoing Same Day ACH Transfer fee (cut-off deadline 12:00 p.m.) $5.00 per item
Overdraft Courtesy Pay Fee (refer to Consumer Overdraft Disclosure) $25.00 as of April 2020
Overdraft Protection Fee (refer to Consumer Overdraft Disclosure) $5.00 per transfer
Deposited Items Returned Fee (when final settlement is not received) $25.00 per item as of April 2020
Returned Item Fee (when you have insufficient funds) $25.00 per item as of April 2020
Stop Payment Fee $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 checks ordered from an unauthorized vendor that are rejected by our automated system during processing) $2.00 per check
Check/Deposit Slip/Withdrawal Slip Photocopy Fee $2.00 per inquiry
Statement Copies Fee (for statements older than 1 year) $5.00 per statement
Exploratory Credit Options Fee $8.00 per credit pull
Incorrect Address Fee $5.00 per returned statement
Dormant Account Fee (assessed after 1 year of inactivity) $7.00 per month

 

Interest Rates on Loan Products Fees Applicable to Loan Products
Unsecured Loan 5% to 10% Non-Refundable Personal Loan Application Fee $40.00
Secured Loan 1% to 3% Non-Refundable Vehicle Loan Application Fee $75.00 + lien filing fee (varies by state)
Vehicle Loan 2.5% to 9.75% Late Payment Fee $25.00

 

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