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Privacy & Disclosures

Truth in Savings Disclosures

The DCCU Fee Schedule and Rate Sheet are provided by request and can be found on our website www.dccu.us and are incorporated by reference as part of this Disclosure.

Savings Accounts

Except as specifically described, the following disclosures apply to all of the accounts.

  1. Rate information. The Annual Percentage Yield is a percentage rate 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. For Regular Share Savings Accounts, Great Dane Savers Accounts, Savings Builder Accounts, #mymoney Accounts, and IRA Open Deposit Accounts, the Dividend Rate and Annual Percentage Yield are variable and may change every quarter as determined by management. For Holiday Savings Accounts, and Savings Booster Accounts, the Dividend Rate and Annual Percentage Yield are variable and may change each month as determined by management. The rates appearing in the Rate Sheet are accurate and effective for savings accounts as of the date indicated. If you have any questions or require current rate information on your accounts, please contact us.
  2. Compounding and crediting. Dividends on Regular Share Savings Accounts, Great Dane Savers Accounts, Savings Builder Accounts, #mymoney Accounts, and IRA Open Deposit Accounts are compounded quarterly and credited quarterly. Dividends on Holiday Savings Accounts, and Savings Booster Accounts are compounded monthly and credited monthly.
  3. Minimum balance requirements. The minimum balance required to open a Regular Share Savings Account or a Great Dane Savers account is $5.00. There is no minimum opening balance required for an IRA Open Deposit Account or a Holiday Savings Account. The minimum daily balance required to earn a dividend on a Regular Share Savings Account, a Great Dane Savers Account, Savings Builder Accounts, #mymoney Accounts, an IRA Open Deposit Account, a Holiday Savings Account or a Savings Booster Account is $100.00. You must maintain the stated minimum daily balance to obtain the annual percentage yield disclosed on the Rate Sheet. In addition to the stated minimum required balance in each type of account, a $5.00 balance must be maintained in Regular Share Savings or Great Dane Savers at all times.
  4. Balance computation method. Dividends on Regular Share Savings Accounts, Great Dane Savers Accounts, Holiday Savings Accounts, Savings Builder Accounts, #mymoney Accounts, Savings Booster Accounts, and IRA Open Deposit Accounts are calculated by the daily balance method, which applies a daily periodic rate to the principal in your account each day.
  5. Accrual of dividends. Dividends will begin to accrue on cash and non-cash deposits on the business day you make the deposit to your account.
  6. Transaction limitations. During any month, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a pre-authorized or automatic transfer or telephonic order or instruction. No more than three of the six transfers may be made by check, draft, or similar order to a third party. If you exceed the transfer limitations set forth above in any statement period your account will be subject to closure by the credit union. See the Fee Schedule for additional transaction limitations and/or account related fees which may apply to DCCU savings accounts.
  7. Overdraft fees. Accounts will be charged the standard $30 fee for overdrafts created by checks, Automated Clearing House (ACH), Point of Sale, ATM withdrawals, debit card purchases, in-person withdrawals, or by other electronic means, including a $30 fee for returned items. An overdrawn balance must be repaid within 32 days. We may not pay items under your overdraft privilege if: you do not maintain your account in good standing by bringing your account to a positive balance within every 32 day period for a minimum of 24 hours; if you default on any loan or other obligation to DCCU; or if your account is subject to any legal or administrative order or levy.
  8. Nature of dividends. Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period.

Checking Accounts

Except as specifically described, the following disclosures apply to all of the accounts.

  1. Rate information. The Annual Percentage Yield is a percentage rate 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. The Dividend Rate and Annual Percentage Yield are variable and may change every month as determined by management. The rates appearing in the Rate Sheet are accurate and effective for checking accounts as of the date indicated. If you have any questions or require current rate information on your accounts, please contact us.
  2. Compounding and crediting. Dividends are compounded monthly and credited monthly. Dividends earned as part of the reward on the Premium Checking are compounded monthly and credited monthly.
  3. Minimum balance requirements. The minimum balance required to open a checking account is $20.00. There is a $2000.00 daily balance required to earn a dividend on Premium Checking. There is a $100.00 daily balance required to earn a dividend on Health Savings (HSA) Checking. You must maintain the stated minimum daily balance to obtain the annual percentage yield disclosed on the Rate Sheet. In addition to the stated minimum balance requirements, a $5.00 balance must be maintained in Regular Share Savings at all times.
  4. Balance computation method. Dividends on the HSA checking accounts are calculated by the daily balance method, which applies a daily periodic rate to the principal in your account each day. Rewards Dividends on the Premium Checking account are calculated by the average daily balance (ADB) method.
  5. Accrual of dividends. Dividends will begin to accrue on cash and non-cash deposits on the business day you make the deposit to your account.
  6. Transaction limitations. See the Fee Schedule for transaction limitations and/or account related fees which may apply to DCCU checking accounts.
  7. Overdraft fees. Accounts will be charged the standard $30 fee for overdrafts created by checks, Automated Clearing House (ACH), Point of Sale, ATM withdrawals, debit card purchases, in-person withdrawals, or by other electronic means, including a $30 fee for returned items. An overdrawn balance must be repaid within 32 days. We may not pay items under your overdraft privilege if: you do not maintain your account in good standing by bringing your account to a positive balance within every 32 day period for a minimum of 24 hours; if you default on any loan or other obligation to DCCU; or if your account is subject to any legal or administrative order or levy.
  8. Nature of dividends. Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period.

Money Market Accounts

Except as specifically described, the following disclosures apply to all of the accounts.

  1. Rate information. The Annual Percentage Yield is a percentage rate 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. The Dividend Rate and Annual Percentage Yield are variable and may change every month as determined by management. The rates appearing in the Rate Sheet are accurate and effective for money market accounts as of the date indicated. If you have any questions or require current rate information on your accounts, please contact us.
  2. Compounding and crediting. Dividends on Money Market Accounts are compounded monthly and credited monthly.
  3. Minimum balance requirements. The minimum balance to open a Money Market account is $2000.00. The minimum balance to open a Money Market Premium account is $5000.00. Money Market Accounts are tiered-rate accounts. You must maintain the stated minimum daily balance to obtain the disclosed Annual Percentage Yield. In addition to the stated minimum required balance, a $5.00 balance must be maintained in Regular Share Savings at all times.
  4. Balance computation method. Dividends on Money Market accounts are calculated by the daily balance method, which applies a daily periodic rate to the principal in your account each day.
  5. Accrual of dividends. Dividends will begin to accrue on cash and non-cash deposits on the business day you make the deposit to your account.
  6. Transaction limitations. During any month, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a pre-authorized or automatic transfer or telephonic order or instruction. No more than three of the six transfers may be made by check, draft or similar order to a third party. If you exceed the transfer limitations set forth above in any statement period your account will be subject to closure by the credit union. See the Fee Schedule for additional transaction limitations and/or account related fees which may apply to DCCU accounts.
  7. Overdraft fees. Accounts will be charged the standard $30 fee for overdrafts created by checks, Automated Clearing House (ACH), Point of Sale, ATM withdrawals, debit card purchases, in-person withdrawals, or by other electronic means, including a $30 fee for returned items. An overdrawn balance must be repaid within 32 days. We may not pay items under your overdraft privilege if: you do not maintain your account in good standing by bringing your account to a positive balance within every 32 day period for a minimum of 24 hours; if you default on any loan or other obligation to DCCU; or if your account is subject to any legal or administrative order or levy.
  8. Nature of dividends. Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period.

Certificate Accounts

Except as specifically described, the following disclosures apply to all accounts.

  1. Rate information. The Annual Percentage Yield is a percentage rate 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. For Certificate Accounts and Individual Retirement Certificate Accounts, the Dividend Rate and Annual Percentage Yield are fixed and will be in effect for the term of the account. For a RateWatcher Certificate Account or a RateWatcher Individual Retirement Account, the Dividend Rate and Annual Percentage Yield are variable and may change once at your request during the term of the certificate, to the stated RateWatcher rate in effect at the time of your request. The Annual Percentage Yield is based on the assumption that dividends will remain on deposit until maturity. A withdrawal will reduce earnings. The rates appearing in the Rate Sheet are accurate and effective for certificate accounts as of the date indicated. If you have any questions or require current rate information on your accounts, please contact us.
  2. Compounding and crediting. Dividends are compounded quarterly and paid quarterly. Certificates not renewed will earn no dividends after the maturity date.
  3. Balance information. The minimum balance required to open each account is stated on the Rate Sheet. In addition to the stated minimum required balance, a $5.00 balance must be maintained in Regular Share Savings at all times.
  4. Accrual of dividends. Dividends will begin to accrue on cash and non-cash deposits on the business day you make the deposit to your account.
  5. Transaction limitations. With the exception of the Deposit Plus Certificate, after the account is opened, you may not make any deposits to the certificate. Deposits to the Deposit Plus Certificate may not exceed $10,000.00 during the certificate term.
  6. Certificate renewals and grace periods. DCCU will mail a notice 10 days or more prior to certificate maturity. For all certificates, there is a 10-day grace period after the certificate maturity date to: (1) redeem (cash in) or withdraw funds from the certificate without penalty; or (2) add funds to the certificate. If no instruction is given to DCCU, automatically renewing certificates will automatically renew at the DCCU rate that is in effect as of your certificate renewal date. If the same term certificate is not available, unless you notify us with other instructions, the automatically renewing certificate will be renewed at the closest lesser term than available.
  7. Balance computation method. Dividends are calculated by the daily balance method, which applies a daily periodic rate to the principal balance in your account each day. The Annual Percentage Yield stated assumes that dividends remain in the account until maturity. A withdrawal of dividends will reduce earnings.
  8. Early withdrawal penalty. We will impose a penalty if you withdraw any of the principal before the maturity date, or the renewal date, if this is a renewal account.
  9. Amount of penalty. The penalty for early withdrawal for any certificate, is 180 days dividends, or the number of days equivalent to the term of the certificate, whichever is less, calculated on the principal balance. If the account has not yet earned enough dividends or if the dividend has already been paid, the penalty will be deducted from the principal.

Business Days: Monday through Friday Excluding Federal Holidays

 

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