Business Account Rates

Truth in Savings Disclosure

Rate Information

The annual percentage yield (APY) 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 the APY are the prospective rates and yields that the credit union anticipates paying for the applicable dividend period. The dividend rate and APY may change at any time as determined by the Credit Union's Board of Directors. Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period. Arize Elevate, Arize Elevate Plus, Business Elevate, Business Elevate Plus and Elevate Non-Profit are all tiered accounts. For tiered accounts, dividends are paid at the stated dividend rate only on the portion of your balance that falls within each tier and the APY is calculated by blending these rates based on the balance in each tier.

Compounding and Crediting

The compounding and crediting frequency of dividends applicable to each account are stated in the account table above. If you close a dividend-bearing account before dividends are paid, you will not receive the accrued dividends.

Dividend Period

The dividend period applicable for each account is stated in the account table above. The dividend period is the period of time at the end of which an account earns dividend credit. The dividend period begins on the first calendar day of the month and ends on the last calendar day of the period.

Minimum Balance Requirements

Minimum opening deposit and minimum daily balance requirements vary by account type and are disclosed in the applicable account table above. You must maintain the minimum daily balance shown for the account to earn the disclosed APY for that balance tier or account.

Membership

As a condition of membership at Arize FCU, you must maintain the minimum required Par Value of One Share ($5.00) in the savings account.

Balance Computation Method

Dividends are calculated using the daily balance method, which applies a daily periodic rate to the balance in the account each day. For tiered-rate accounts, the disclosed dividend rate applies to the balance that falls within each tier and the APY is calculated by blending the rates based on the balance in each tier. As a result, the APY for higher balance tiers is a blended yield that may decrease as more funds are deposited into lower dividend rate tiers.

Accrual of Dividends on Noncash Deposits

For all earning accounts, dividends will begin to accrue on noncash items, such as checks, on the business day you make your deposit to the account. If you close a dividend-bearing account before accrued dividends are credited, you will not receive the accrued dividends.

Cash Withdrawal Limitations

The maximum amount you may withdraw is $4,000.00 in cash per day. This limitation is an aggregate amount of cash from any single account or combination of accounts.

Transaction Limitations

Transaction limitations vary by account type and are described in the applicable account agreement, fee schedule, and account disclosures.

Fees and Penalties

Monthly service fees apply as stated in the chart above. For a full list of account fees, see our Fee Schedule. Fees may reduce earnings on accounts.

Discretionary “Overdraft Privilege” Protection for Checking Accounts

The Credit Union may provide Overdraft Privilege as a courtesy on eligible checking accounts. It is not a line of credit and may be withdrawn at any time without prior notice. We may refuse to pay an overdraft at any time, even if overdrafts were previously paid. Overdraft Privilege may allow an eligible account to be overdrawn up to an amount determined by your Rize Rewards Account Status, including fees, to pay an item when funds and other overdraft protection sources are insufficient. We may pay or return items at our discretion and may assess an overdraft fee for each paid item as disclosed in the Fee Schedule. Items will not be paid if the resulting overdrawn amount exceeds the account's Overdraft Privilege limit. Overdrafts may result from checks, ACH, point-of-sale, ATM withdrawals, in-person withdrawals, or other electronic transactions, and the available balance is used to determine whether overdraft services apply. Eligibility requires that the account remain in good standing, including no delinquency or other obligation to Arize FCU, no prior loss, no legal or administrative order or levy, and repayment of any overdrawn balance within thirty-two (32) days. We may reduce, revoke, or reinstate the privilege based on account activity, excessive use, obligations owed, or ability to repay. Member consent is required for Overdraft Privilege to apply to ATM and everyday debit card transactions for which a fee may be charged. Overdraft Privilege may be more expensive than other overdraft options and is intended as additional coverage for unexpected circumstances. Members may discontinue Overdraft Privilege at any time by notifying us. Credit agencies may be notified if overdrafts are not repaid as agreed.

Nature of Dividends

The Board of Directors declares dividends based on current income and available earnings of the Credit Union after required transfers to the reserves at the end of the dividend period.

Certificate Accounts

For specific information on a certificate such as renewal terms, grace periods and whether you can withdraw dividends prior to maturity, please refer to the Certificate Truth-in-Savings terms provided to you at account open.

National Credit Union Share Insurance Fund

Member accounts in this Credit Union are federally insured by the National Credit Union Share Insurance Fund.