Print Rates and Fees Schedule

I. Deposit Account Features

1. Generally. This Rates and Fees Schedule supplements and is considered a part of the terms and conditions of your Personal Deposit Account Agreement provided to you at account opening. Terms not defined in this Rates and Fees Schedule shall have the same meaning given to them in the Personal Deposit Account Agreement. Should there be a discrepancy between the Rates and Fees Schedule and the Personal Deposit Account Agreement, the Rates and Fees Schedule shall control.

2. Your Choices. The following chart illustrates the various deposit account alternatives and their respective features. The Bank reserves the right to change the terms and conditions of these accounts from time to time without notice to you except as required by Applicable Law.

Features

Money Market

Passbook
Savings

Certificates
of Deposit

Interest Earning Account

Yes

Yes

Yes

Minimum Deposit to Open Account

$1.00

$100.00

$100.00

Interest Compounding / Crediting

Daily / Monthly

Daily / Monthly

Monthly / Monthly

Monthly Maintenance Service Charge

None

None

None

Image Statements / Frequency

Yes
(Monthly; Quarterly if no activity)

No

No

3.  General Information Regarding Rates.

  1. Rate Information:  Your interest rate and annual percentage yield (APY) may change. At our discretion, we may change the interest rate on your interest-earning account at any time. See below for rate and balance information, including tiered APYs, as applicable.
  2. Accrual of Interest on Deposits:  Interest begins to accrue on the business day you deposit cash or non-cash items (for example, checks).
  3. Daily Balance Computation Method:  We use the daily balance method to calculate the interest on your interest-bearing account. This method applies a daily periodic rate to the principal in the account each day.

4.  Notice of Withdrawal.  We reserve the right to require you to give us not less than 7 days prior written notice of any intended withdrawal from an interest-bearing account other than a certificate of deposit. Withdrawals from a certificate of deposit prior to maturity or prior to any notice period may be restricted and may be subject to an early withdrawal penalty.

II. Specific Account Information

1.  Money Market – Rate and Additional Information.

  1. Rate Information
Tier 1 – If your daily balance is $ 100,000.00 or more:
Interest rate paid on entire balance in your account will be:   %
Annual percentage yield on entire balance in your account:     %
Tier 2 – If your daily balance is more than $ 49,999.99 but less than $ 100,000.00:
Interest rate paid on entire balance in your account will be:   %
Annual percentage yield on entire balance in your account:     %
Tier 3 – If your daily balance is more than $ 24,999.99 but less than $ 50,000.00:
Interest rate paid on entire balance in your account will be:   %
Annual percentage yield on entire balance in your account:     %
Tier 4 – If your daily balance is more than $ 9,999.99 but less than $ 25,000.00:
Interest rate paid on entire balance in your account will be:   %
Annual percentage yield on entire balance in your account:     %
Tier 5 – If your daily balance is more than $ 2,499.99 but less than $ 10,000.00:
Interest rate paid on entire balance in your account will be:   %
Annual percentage yield on entire balance in your account:     %
Tier 6 –  If your daily balance is less than $ 2,500.00:
Interest rate paid on entire balance in your account will be:   %
Annual percentage yield on entire balance in your account:     %
  1. Maximum Deposit Amount:  We limit total amounts on deposit in your money market     account to $ 1 million.  This means that you may not open your money market account with more than this amount, and any deposits received after your money market account has reached $ 1 million will be returned.  However, we will permit interest accrued on principal amounts less than $ 1 million to bring the total available balance in your money market account over $ 1 million.

2.  Passbook Savings Rate Information.

Tier 1 – If your daily balance is $75,000.00 or more:
Interest rate paid on entire balance in your account will be:       ______________%
Annual percentage yield on entire balance in your account:       ______________%
Tier 2 – If your daily balance is more than $49,999.99 but less than $75,000.00:
Interest rate paid on entire balance in your account will be:       ______________%
Annual percentage yield on entire balance in your account:       ______________%
Tier 3 – If your daily balance is more than $24,999.99 but less than $50,000.00:
Interest rate paid on entire balance in your account will be:       ______________%
Annual percentage yield on entire balance in your account:       ______________%
Tier 4 – If your daily balance is less than $25,000.00:
Interest rate paid on entire balance in your account will be:       ______________%
Annual percentage yield on entire balance in your account:       ______________%

3.  Certificates of Deposit – Rate and Additional Information.

  1. Rate:  The interest rate on your account is                      % with an annual percentage yield of             %.  You will be paid this rate until the maturity date of your certificate.  The annual percentage yield assumes that interest will remain on deposit until maturity.  A withdrawal prior to maturity will reduce earnings.
  2. Maturity:  Your account will mature on _____________________________.
  3. Transaction Limitations:  You may not make any deposits into your account before maturity. You may not make withdrawals of principal from your account before maturity. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty. You can only withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest any time during the term after it is credited to your account.
  4.   Early Withdrawal Penalties:  A penalty may be imposed for withdrawals before maturity as follows:
  • If your account has an original maturity of less than twelve (12) months, we may impose an early withdrawal penalty of no more than six (6) months’ interest on the amount withdrawn and subject to penalty.
  • If your account has an original maturity of more twelve (12) months or more, we may impose an early withdrawal penalty of no more than twelve (12) months' interest on the amount withdrawn and subject to penalty.

In certain circumstances, such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. Other exceptions may apply, for example, if this is part of an IRA or other tax-deferred savings plan.

  1. Automatically Renewable:  This account will automatically renew at maturity.  You will have 10 calendar days after maturity (a “Grace Period”) to withdraw the funds without penalty. You may prevent renewal if you withdraw the funds in the account at maturity (or within the Grace Period), or we receive written notice from you within the Grace Period. For your notice of your intent not to renew to be considered effective, it should be sent to:

Union Federal Savings Bank
ATTN: Deposit Operations
1565 Mineral Spring Avenue
North Providence, RI 02904

We can prevent renewal of your account if we mail notice to you at least 30 calendar days before maturity.  If either you or we prevent renewal, interest will not accrue after final maturity.

Each renewal term will be the same as the original term, beginning on the maturity date.  We will set the interest rate on your renewing certificate of deposit at our discretion.  It may differ from the interest rate that we pay on other certificate of deposit accounts of the same type, term and/or amount purchased on the maturity date.  Please call the telephone number listed on the maturity notice you receive regarding your account on or after your maturity date to determine the rate for renewal.

III.       Account Fees

Account Inactivity Fee

$ 5.00 / month
(After 24 months of inactivity)

Duplicate Statement Fee

$ 5.00

Expedited Mail Requests

Cost of express mail

Insufficient Available Funds Fee

$ 20.00
(Per Debit Transaction1 returned)

Money Market Early Termination Fee

$ 50.00
(If account closed within 180 days of opening)

Overdraft Fee

$ 20.00
(Per Debit Transaction1 paid creating an overdraft)

Stop Payment Fee

$ 20.00
(Per stop payment and renewal)

Wire Transfer Fees (Incoming and Outgoing)
Domestic

International


$ 20

$ 40

Notes

  1. “Debit Transactions” include in-person withdrawals, ACH debits, online bill payment and/or transfer instructions, automatic transfers, and/or other forms of electronic fund transfers.