Current Rates

Truth-in-Savings Act Rate and Fee Schedules
This Rate and Fee Schedule is part of your Agreement with Pickens Federal Credit Union
Par Value of Membership Shares: $25.00

Account Type Share Savings IRA Savings Share Checking account Christmas Club* Vacation club*
Dividend Rate 0.02% 0.10% 0.00% 0.02% 0.02%
"APY" 0.02% 0.10% 0.00% 0.02% 0.02%
Dividend Compounded Quarterly Quarterly n/a Quarterly Quarterly
Dividend Period Quartely Quarterly n/a Quarterly Quarterly
Minimum Opening Deposit $25.00 $25.00 $0.00 $5.00 $5.00
Balance to earn APY $25.00 $25.00 $0.00 $25.00 $25.00
Early Withdrawal Penalty None see your tax professional None *See Below *See Below

*One withdrawal per 12 month period. Any other will close the account. 

 

Term Share Certificate and IRA Certificate Accounts Minimum Opening Deposit Dividends Compounded Dividends Credited Dividends Period
 Variable Rate Share Certificate Account  n/a n/a  n/a  n/a 
 Fixed Rate Share Certificate Account   $500 at maturity  at maturity  term of certificate 
 Variable Rate IRA Certificate Account  n/a n/a  n/a  n/a 
 Fixed Rate IRA Certificate Account  $500  at maturity  at maturity  term of certificate

(Early Withdrawal Penalty is 90 days of interest)

 

Type Term Dividend APY Rate
IRA or Share 3 moths $500 0.03% 0.03%
IRA or Share 6 months $500 0.05% 0.05%
IRA or Share 12 months $500 0.15% 0.15%

Credit to Accounts for Member Deposits and Business Day Disclosures:

The Credit Union’s Daily transactions and deposits time is:

Monday through Friday 8:30 am to 5:00 pm, with the exception of Federal holidays.

All deposits or transactions received prior to 8:30 am will be treated as the prior day. This does not include drop box items, and does include ACH/ATM transmissions. All deposits or transactions received after 5:00 pm will be treated as if received on the next business day that we are open.

The credit Union’s “daily cut off time” for Uniform Commercial Code Funds Transfers: Any dollar amount may be transferred until 1:00 pm, on a business day. Any request for a transfer after 1:00 pm will be sent on the next business day we are open. Automatic Clearing House (ACH) requests, Wire transfer requests are subject to processing and finalization by the Federal Reserve.


ELECTRONIC FUNDS TRANSFER SERVICES – DEBIT CARDS

To Report a Lost or Stolen Debit Card after hours call: 1-800-554-8969

Daily limits on transactions: ATM: $410 online, $210 Offlilne.
Point of Sale Terminals: $400 online, $200 Offline.
Signature or Credit Transactions, including telephone, internet: $1500 No Overdraft protection on debit cards.


Club Accounts Account Requirements:  Distrubution Methods:
Christmas Club Plan Period 10/01 thru 09/31 each year Deposits allowed: Any time During Plan Period. We will retain $5.00 in Acct. to continue for subsequent periods, unless you direct otherwise. A single withdrawal can be made at the end of the plan period between Oct. 1 and Dec. 31. If you withdraw any of the account balance at any other time, we will close your account and pay you the full account balance.
Vacation Club Plan Period 06/01 thru 05/31 each year Deposits allowed: Any time During Plan Period. We will retain $5.00 in Acct. to continue for subsequent periods, unless you direct otherwise. A single withdrawal can be made at the end of the plan period between Jun. 1 and Aug. 31. If you withdraw any of the account balance at any other time, we will close your account and pay you the full account balance.
Credit to Accounts for Members Deposits and Business Day Disclosures  
The Credit Union's "daily cut-off time": All deposits or transactions received after the time we close for business on a day we are open, or received on a day on which we are closed for business, will be treated as if received on the next business day that we are open.
The Credit Union's "daily cut-off time" for Uniform Commercial Code Funds Transfers: Any dollar amount may be transferred until 1:00 p.m., on a business day. Any request for a transfer after 1:00 p.m., will be sent on the next business day we are open.
The Credit Union's business day disclosure: Our business days areMonday through Friday 8:30 a.m., to 5: p.m., excluding holidays.

Approved Check Printer/Vendor: Harland Clarke

Electronic Funds Transfer Services
Daily limits on Transactions: ATM $410 online, $210 offline. Point of Sale Terminals: $400 online, $200 offline. Networks available for EFT transactions - PULSE & PLUS. No overdraft protection is available using the ATM/Debit card.