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HomeRates & Fee Schedule Disclosure

Rates & Fee Schedule Disclosure


Savings and Checking Accounts

  • Dividends Compounded - Quarterly
  • Dividends Credited - Quarterly
  • Dividend Period - Calendar Quarter

Premier Money Market

  • Dividends compounded monthly, credited monthly, with dividend period of a calendar month

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 all accounts, the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Unions' Board of Directors. Dividend Rates and Annual Percentage Yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period. The Premier Money Market account is a Tiered Rate account. If your account balance is below $2,500, the Dividend Rate and Annual Percentage Yield listed for this account will be one percentage point below the Share Savings account rate in the Rate Schedule. If your account balance is $2,500 or greater, the Dividend Rate and Annual Percentage Yield listed for the Premier Money Market account will apply. Each dividend Rate will apply only to that portion of the account balance within each balance range.

2. Nature of Dividends. Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period.

3. Dividend Compounding and Crediting. The compounding and crediting of dividends and dividend period applicable to each account are set forth in the Rate Schedule. 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 period and ends on the last calendar day of the period.

4. Accrual of Dividends. For all accounts, dividends will begin to accrue on non-cash deposits (e.g. checks) on the business day you make the deposit to your account.

5. Balance Information. The minimum balance requirements applicable to each account are set forth in the Rate Schedule. For Share Savings, Club, Premier Money Market, and IRA accounts, there is a minimum daily balance required to obtain the Annual Percentage Yield for the dividend period. If the minimum daily balance is not met, you will not earn the stated Annual Percentage Yield. For all accounts using a Daily Balance method, dividends are calculated by applying a daily periodic rate to the principal in the account each day.

6. Account Limitations. The Holiday Club pays out once a year on October 1, at which time the entire balance is transferred to your Share Savings. For the Vacation Club, two withdrawals per calendar year are allowed. For Holiday Club and Vacation Club, a fee of $10.00 will be imposed for any additional withdrawals made. For the Share Savings, withdrawals must be $10 or more. For the Premier Money Market, a minimum of $100 is required per deposit, transfer, or withdrawal. For Share Draft/Checking, overdraft transfers from Share Savings are limited to three (3) in a 90-day period.



IRA and Share Certificate Accounts
  • Dividends Compounded - Daily
  • Dividends Credited - Monthly
  • Dividend Period - Calendar Month

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 all accounts, the Dividend Rate and Annual Percentage Yield are fixed and will be in effect for the term of the account. The Annual Percentage Yield is based on an assumption that dividends will remain on deposit until maturity. A withdrawal of dividends will reduce earnings.

2. Nature of Dividends. Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period.

3. Dividends Compounding and Crediting. The compounding and crediting of dividends applicable to each account is set forth in the Rate Schedule. The Dividend Period begins on the first calendar day of the Dividend Period and ends on the last calendar day of the Dividend Period.

4. Balance Information. The minimum balance requirements applicable to each account are set forth in the Rate Schedule. For all accounts, dividends are calculated by the Daily Balance method which applies a daily periodic rate to the principal in the account each day.

5. Accrual of Dividends. For all accounts, dividends will begin to accrue on non-cash deposits ( e.g. check) on the business day you make the deposit to your account.

6. Transaction Limitations. After your account is opened, you ability to make additional deposits to your account or withdrawals of dividends and any limitations on such transactions are set forth in this Disclosure. For IRA Share Certificate accounts, at the age of 59 1/2, a member may withdraw from their account without a penalty.

7. Maturity. Your account will mature as indicated on your Account Receipt or Renewal Notice.

8. Early Withdrawal Penalty. We may impose a penalty if you withdraw any of the principal before the maturity date.

9. Amount of Penalty. For Share Certificate Accounts, the amount of the early withdrawal penalty is based on the term of your account. The penalty schedule is as follows:
Terms of 6 months and 1 year–90 days dividends.
Terms of 2 years and longer–180 days dividends.
OR dividends earned since the date of issuance/renewal, whichever is less.

For IRA Share Certificate Accounts, the amount of early withdrawal penalty is based on the term of your account. The penalty schedule is as follows:

Terms of 3 years and 5 years–180 days dividends. OR dividends earned since the date of issuance/renewal, whichever is less.

10. How the Penalty Works. The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned on the account. It applies whether or not the dividends have been earned. In other words, 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.

11. Renewal Policy. Your account will automatically renew for another term upon maturity. For all accounts, you have grace period of seven (7) days after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty.

12. Nontransferable/Nonnegotiable. Your account is nontransferable and nonnegotiable. The funds in your account may not be pledged to secure any obligation of an owner, except obligations with the Baltimore County Employees Federal Credit Union. If you have any questions regarding accounts, terms, rates, disclosures, etc., please contact the Credit Union during business hours at 410-828-4730 or 1-800-234-4730.

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