Truth In Savings for Checking and Savings Accounts

Effective 10/23/2023

Product Dividend Rate/Annual Percentage Yield Dividends Compounded Dividend Credited Dividend Period Minimum Opening Deposit Minimum Balance to Avoid a Service Fee Minimum Balance to Earn the Stated APY Balance Method See Section 6
Prime Share 0.04 / 0.05 Monthly Monthly Monthly (calendar) $25.00 - $100.00 Daily Balance -
Vacation Club Savings 0.08 / 0.10 Monthly Monthly Monthly (calendar) - - - Daily Balance -
Christmas Club Savings 0.08 / 0.10 Monthly Monthly Monthly (calendar) - - - Daily Balance Account transfer limitations apply
Senior Savings 0.08 / 0.10 Monthly Monthly Monthly (calendar) - - $100.00 Daily Balance  
Money Market $1,000.00 to $9,999.99
1.34 / 1.35
$10,000.00 to $24,999.99
1.49 / 1.50
$25,000.00 to $49,999.99
1.64 / 1.65
$50,000.00 to $99,999.99
1.79 / 1.80
$100,000.00 or greater
2.03 / 2.05
Monthly Monthly Monthly (calendar) $1,000.00 - $1000.00 Daily Balance -
General Checking - - - - - - - - -
Student Checking - - - - - - - - -
Senior Checking - - - - - - - - -

Account Disclosures

Except as specifically described, the following disclosures apply to all of the accounts. All accounts described in this Truth-in-Savings Disclosure are share accounts. 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 earning accounts, the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union's Board of Directors. The Dividend Rates and Annual Percentage Yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period. Money Market accounts are tiered rate accounts. The balance ranges and corresponding dividend rates and annual percentage yields applicable to each tier are disclosed in the Rate Schedule. For all accounts, once a particular range is met, the dividend rate and annual percentage yield for that balance range will apply to the full balance of your account. 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 Prime Share, Vacation Club Savings, Christmas Club Savings, Senior Savings and IRA Savings accounts, dividends will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account. 5. BALANCE INFORMATION — To open any account, you must deposit or already have on deposit the minimum required share(s) in a Primary Share account. Some accounts may have additional minimum opening deposit requirements. The minimum balance requirements applicable to each account are set forth in the Rate Schedule. For Prime Share, Senior Savings and Money Market 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 accounts using the daily balance method as stated in the Rate Schedule dividends are calculated by applying a daily periodic rate to the principal in the account each day. 6. ACCOUNT LIMITATIONS — For Christmas Club Savings accounts, the entire balance will be transferred to another account of yours on or after October 1st and the account will remain open. For other accounts, no account limitations apply. 7. FEES FOR OVERDRAWING ACCOUNTS. — Fees for overdrawing your account may be imposed on each check, draft, item, ATM transaction and one-time debit card transaction (if member has consented to overdraft protection plan for ATM and one-time debit card transactions), preauthorized automatic debit, telephone initiated withdrawal or any other electronic withdrawal or transfer transaction that is drawn on an insufficient available account balance. The entire balance in your account may not be available for withdrawal, transfer or paying a check, draft or item. You may consult the Membership and Account Agreement and Funds Availability Policy Disclosure for information regarding the availability of funds in your account. Fees for overdrawing your account may be imposed for each overdraft, regardless of whether we pay or return the draft, item or transaction. If we have approved an overdraft protection limit for your account, such fees may reduce your approved limit. Please refer to the Schedule of Fees and Charges for current fee information. For ATM and one-time debit card transactions, you must consent to the Credit Union’s overdraft protection plan in order for the transaction amount to be covered under the plan. Without your consent, the Credit Union may not authorize and pay an overdraft resulting from these types of transactions. Services and fees for overdrafts are shown in the document the Credit Union uses to capture the member’s opt-in choice for overdraft protection and the Schedule of Fees and Charges. 8. MEMBERSHIP — As a condition of membership, you must purchase and maintain the minimum required share(s) as set forth below:

  • Par Value of One Share - $25.00
  • Number of Shares Required - 1

9. BONUSES - See Bonus Addendum Below. 10. RATES - The rates provided in or with the Rate Schedule are accurate and effective for accounts as of the Last Dividend Declaration Date indicated on this Truth-in-Savings Disclosure. If you have any questions or require current rate and fee information on your accounts, please contact the Credit Union.

 

Truth In Savings Addendum

Current UKFCU Bonus Disclosures

New Checking Account + Direct Deposit = $200 for You!

This disclosure is for any individual who meets the eligibility criteria to be a member of UKFCU and opens “any new UKFCU checking” account. This offer is valid for new or existing members who have not had a checking account with UKFCU and have not had one in the last 12 months using the Promo Code 200Better; the following applies – accountholders will have up to 95 days from account opening to meet requirements to earn the bonus by:

  • (1) Maintaining your account in good standing with a positive balance, and
  • (2) Completing at least three Direct Deposits totaling $3,000.00 or more into your UKFCU Checking Account.

Once requirements are met, the bonus of $200 will automatically deposited into the checking account within 7 business days of completion. The minimum balance to earn the bonus is $0.00, and the minimum to open membership is $25. Please see a UKFCU Representative for more details. Offer valid April 15 – December 31, 2024.

Existing Checking Account + Direct Deposit = $200 Direct to You!

This disclosure is for any individual who meets the eligibility criteria to be a member of UKFCU and moves their payroll Direct Deposit to their primary UKFCU checking account. This offer is valid for existing members who have not had any payroll Direct Deposits greater than $1,000 in the previous 12 months; the following applies – account holders will have up until the end of the promotional date to meet requirements to earn the bonus by:

  • (1) Maintaining your account in good standing with a positive balance, and
  • (2) Completing at least three Direct Deposits totaling $3,000.00 or more into your UKFCU Checking Account.

Once requirements are met, the bonus of $200 will automatically deposited into the checking account within 7 business days of completion. The minimum balance to earn the bonus is $0.00, and the minimum to open membership is $25. Please see a UKFCU Representative for more details. Offer valid April 19 – August 31, 2024.

GROWbabyGROW – UK Children’s Hospital Savings Account

This disclosure is for any individual who meets the eligibility criteria to be a member of UKFCU and opens a UKFCU Prime Share Account. This offer is valid for new members who have opened a savings account for their new baby using the Promo Code GROWbabyGROW; the following applies – accountholders will have to meet the requirements to earn the bonus by:

  • (1) Opening a new Prime Share Savings for newborn child.
  • (2) Presenting promotional card for ABCD’s of Safe Sleep.

The minimum balance to earn the bonus is $0.00, and the minimum to open membership is $25. Once requirements have been met, UKFCU representative will place the $25 bonus in the Prime Share Savings account. Please see a UKFCU Representative for more details. Offer valid February 1, 2024 – March 30, 2025.

Preferred Partner Bonus Disclosure

This disclosure is for any individual who meets the eligibility criteria to be a member of UKFCU and opens any new Checking Account. This offer is valid for new or existing members who do not have a checking account with UKFCU and have not had one in the last 12 months using one of the following Preferred Partner Promotional Codes listed below; the following applies – account holders will have up to 95 days to meet requirements to earn the bonus by:

  • (1) Maintaining your account in good standing with a positive balance, and;
  • (2) Completing at least three Direct Deposits totaling $3,000.00 or more into your UKFCU Checking Account.

Once requirements are met, the bonus of $200.00 will be automatically deposited into the checking account within 7 business days. The minimum balance to earn the bonus is $0.00, and the minimum to open membership is $25.00. Please see a UKFCU Representative for more details. Offer valid until December 31, 2024.

Valid Promotional Codes:

  • Big Ass Fans - BAF200
  • Bluegrass Community & Technical College - BCTC200
  • Bluegrass SHRM - BGSHRM200
  • Eastern Kentucky University - EKU200
  • Equestrian Woods Maintenance Association - EW200
  • Habitat for Humanity - HABITAT200
  • Harrods Hill HOA - HH200
  • Keeneland - KEENELAND200
  • Lexington Children's Theatre - LCT200
  • Lexington Public Library - LPL200
  • Machine Time - MT200
  • New Vista - VISTA200
  • University of Kentucky - UK200

These offers cannot be combined. Bonus funds may be considered 1099-MISC taxable; consult your tax advisor. UKFCU reserves the right to end the promotion without notice.