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Money Market Application

Member Information
 
Name:
Account Number:
Social Security Number:
Driver's License #:
Driver's License State:
Driver's License Exp Date:
Date of Birth
Address:
City:
State:
Zip:
Daytime Phone:
Evening Phone:
E-mail:
 
Joint Owner Information
Name:
Social Security Number:
Driver's License #:
Driver's License State:
Driver's License Exp Date:
City:
State:
Zip:
Daytime Phone:
Evening Phone:
Email:
 

MONEY MARKET ACCOUNT INFORMATION

1. Rate information. This is a variable-rate account. Dividends are declared and posted monthly. If the account is closed before the dividends are credited, dividends will not be paid. Dividends are calculated using the Average Daily Balance method.
2. Balance computation method. Dividends are calculated by the Average Daily Balance method which applies a periodic rate to the average daily balance in your account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
3. Minimum balance requirements. The minimum balance, as calculated using the Average Daily Balance method, required to earn the declared rate for the Money Market Account is as follows
$2,500 – Tier 1 Rate
$10,000 – Tier 2 Rate
$50,000 – Tier 3 Rate
$100,000 – Tier 4 Rate
If the Average Daily Balance in the account falls below $2,500 for the dividend period, no dividends will be earned for that period.
4. Accrual of dividends. Dividends will begin to accrue on the business day you deposit noncash items (e.g., checks) to your account.
5. Fees. The following fees may be assessed against your account:
Statement Copy ....................................................... $5.00
Non-Sufficient Funds Fee ........................................... $25
Check Copy Fee ...................................................... $2.00
Excessive Withdrawal Fee ............................ $10 per item
Closure Of Account Due To Abuse ............................ $25
Check Order Fee ..... Pricing is determined by the printer.
6. Transaction limitations. During any statement period, 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 preauthorized 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 and/or a fee of $10 per item.
7. Nature of dividends. Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.
8. Par value of shares; dividend period. The par value of a regular share in this Credit Union is $5.00. The dividend period of the Credit Union is monthly, beginning on the first of a month and ending on the last day of the month.
9. National Credit Union Share Insurance Fund. Member accounts in this Credit Union are federally insured by the National Credit Union Share Insurance Fund.
10. Terms and conditions: a. The Tobyhanna Army Depot Federal Credit Union is hereby authorized, directed and empowered to recognize any of the signatures hereto subscribed in payment of the principal and interest on the Money Market Account issued under this application. b. In the event any deposit issued hereunder is registered in the names of the undersigned as joint owners thereof, the under signed hereby agree with each other and with said Credit Union that the funds represented by said deposit account and any interest earned thereon, are owned by them jointly with full right of survivorship, and payment to any of them or to the survivor or survivors of them shall be valid and complete discharge of the Credit Union from any and all liability for such payment. c. This account, whether it be individual or joint in name, is for the personal use of the depositor(s) only and is nontransferable. d. Periodic statements will be rendered to the depositor(s) not more frequently than once per month, at the Credit Union’s convenience. Any objection respecting any item shown on a periodic statement of this Account is waived unless made in writing to the Credit Union before the end of sixty (60) days after the statements mailed. e. The Credit Union reserves the right to refuse accounts and/or the use of the Money Market Account, at its discretion, and to terminate the deposit relationship at any time and without notice. f. The ownership of this Money Market Account may not be pledged, transferred or assigned, except on the books of Tobyhanna Army Depot Federal Credit Union. g. The Agreement governing the use of the Money Market Account may be amended at any time by posting notice of such amendments in a conspicuous place in the Credit Union lobby and/or via written notice. Such amendments will become effective immediately upon being posted.

By clicking Apply Now I/we hereby acknowledge that I/we this is a variable rate account. Dividends are declared and posted monthly. If the account is closed before the dividends are credited, dividends will not be paid. Dividends are calculated using the Average Daily Balance method. If the Average Daily Balance in the account falls below $2,500.00 for the dividend period, no dividends will be earned for that period. I agree to pay any fees associated with the Money Market Account. During any statement period, 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 preauthorized 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 and/or a fee of $10.00 per item.