Dividend Rate and APY (Annual Percentage Yield)
The dividend rate as of March 31, 2005 was 0.10 and the annual percentage yield (APY) was 0.10 on your share account. The dividend rate and APY may change quarterly as determined by the credit union board of directors.

Compounding and Crediting
Dividends will be compounded quarterly and credited quarterly. For this account type, the dividend period is quarterly, for example, the beginning date of the first dividend period of the calendar year is January 1st and the ending date of such dividend period is March 31. All other dividend periods follow the same pattern of dates. The dividend declaration date follows the ending of a dividend period and for the example, is March 31. If you close your share account before dividends are credited, you will not receive accrued dividends.

Minimum Balance Requirements
The minimum balance to open this account is $5.00 and the minimum balance to earn dividends is $5.00

Balance Computation Method
Dividends are calculated by the daily balance method which applies a daily periodic rate to the principal in your account each day.

Accrual of Dividends
Dividends will begin to accrue on the business day you deposit noncash items (e.g. checks) to your account.

Fees and Charges
The following fees and charges may be assessed against your account:

Dormant Account Fee - $5.00 per year if balance is below $100.00 and there has been no activity by the member.

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

Transaction Limitations
Share Withdrawals - Berea Credit Union reserves the right to require members to give up to 60 days notice on all withdrawals from share/savings accounts.