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Savings Rates

  • Certificate Rates

    Promotional ​Certificate​s Dividend Rate Annual Percentage Yield
    ​25 Months (Minimum Balance $10,000) 1.​342% 1.35%
    ​39 Months (Minimum Balance $10,000) 1.​638% 1.​65%
    Minimum balance of $10,000 required for Fixed/Variable Promotional Certificate terms. Any certificate may be opened as an IRA Certificate. Rates accurate as of 3/7/17. See Disclosure section below for details. 
    Minimum balance of $500 required. Any certificate may be opened as an IRA Certificate. Rates accurate as of 2/13/17. See Disclosure section below for details.
    Balances of $500.00–$2,499.99

    Terms
    Dividend Rate Annual Percentage Yield
     3 months through 5 months 0​.​​0​50% 0.05%
     6 months through 11 months 0.100% 0.10%
    12 months through 23 months 0.499% 0.50%
    24 months through 35 months 0.598% 0.60%
    36 months through 47 months 0.698% 0.70%
    49 months through 59 months ​0.896% ​0.90%
    60 months 1.094% 1.10%
                                                 
    Minimum balance of $2,500 required. Any certificate may be opened as an IRA Certificate. Rates accurate as of 2/13/17. See Disclosure section below for details. 
    Balances of $2,500.00–$99,999.99

    Terms
    Dividend Rate Annual Percentage Yield
     3 months through 5 months 0​.​​0​50% 0.05%
     6 months through 11 months 0.100% 0.10%
    12 months through 23 months 0.499% 0.50%
    24 months through 35 months 0.598% 0.60%
    36 months through 47 months 0.698% 0.70%
    48 months through 59 months 0.896% 0.90%
    60 months 1.094% 1.10%
                                             
    Minimum balance of $100,000 required. Any certificate may be opened as an IRA Certificate. Rates accurate as of 2/13/17. See Disclosure section below for details. 
    Balances $​100,000.00 & greater

    Terms
    Dividend Rate Annual Percentage Yield
     3 months through 5 months 0​.15​​​0% 0.​15%
     6 months through 11 months 0.200%  0.20%
    12 months through 23 months 0.598% 0.60%
    24 months through 35 months 0.698% 0.70%
    36 months through 47 months 0.797% 0.80%
    48 months through 59 months 0.995% 1.00%
    60 months 1.193% 1.20%
     
  • Money Market Rates

    Type of Account Dividend Rate Annual Percentage Yield
    Money Market    
    Balances of less than $2,500 0.1​50%  0.​15% 
    Balances of $2,500 to $24,999 0.150% 0.15%
    Balances of $25,000 to $49,999  0.150% 0.15% 
    Balances of $50,000 to $99,999 0.200% 0.20%
    Balances of $100,000 and more 0.300% 0.30%
    *Rates accurate as of 2/13/17. See Disclosure section below for details
  • IRA Savings Rates

    Type of Account Dividend Rate Annual Percentage Yield
    IRA Savings Accounts    
    Balances of less than $2,500  0.1​50%  0.​15% 
    Balances of $2,500 to $24,999 0.​150% 0.​15%
    Balances of $25,000 to $49,999 0.​150% 0.​15%
    Balances of $50,000 to $99,999 0.​200% 0.​20%
    Balances of $100,000 and more 0.3​00% 0.​30%

     *Rates accurate as of 2/13/17. See Disclosure section below for details

  • Other Deposit Rates

    Terms Dividend Rate Annual Percentage Yield
    ​Membership Account
    0.030% 0.03%
    ​Plan Ahead Savings
    0.030% 0.03%
    ​Spending Plus Account
    0.030% 0.03%
    Health Savings Account
    0.030% 0.03%
    *Rates accurate as of 2/13/17.
  • Certificate Disclosures

    1. RATE INFORMATION. The Annual Percentage Yield (APY) 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 fixed rate accounts, the dividend rate and Annual Percentage Yield (APY) will be in effect for the initial term of the account. The rates for Renewals shall be those rates in effect at the time of renewal. The APY stated is based on the assumption that dividends will remain on deposit until maturity; a withdrawal of dividends will reduce earnings.
    2. COMPOUNDING AND CREDITING. The frequency with which dividends will be compounded and credited is set forth above. The “Month” begins on the first calendar day of the month and ends on the last calendar day of the month. Dividends will be credited and compounded at the end of each month and upon maturity.
    3. MINIMUM BALANCE REQUIREMENTS. The minimum balance requirements for each account are set forth above. Minimum balance requirements may include a minimum opening deposit, the minimum balance that you must maintain in the account to avoid service fees, and the minimum balance that you must maintain each day to earn the stated Annual Percentage Yield for that account. The Par value of a share in this credit union is disclosed on the Fee Schedule.
    4. BALANCE COMPUTATION METHOD. We use the Daily Balance Method to calculate dividends on your account. The Daily Balance Method applies a daily periodic rate to the balance in the account each day.
    5. ACCRUAL OF DIVIDENDS ON NON-CASH ITEMS. Dividends will begin to accrue on the business day that you deposit non-cash items (e.g. checks) to your account.
    6. MATURITY. Your account will mature according to the term indicated above, and as indicated on your account summary or statement.
    7. TRANSACTION LIMITATIONS. You may not make a partial withdrawal from a certificate before the maturity date.
    8. EARLY WITHDRAWAL PENALTIES. The penalty for withdrawal of a certificate prior to maturity will equal 50% of simple dividends projected to be earned over the term of the certificate. The penalty is calculated as a forfeiture of part of the dividends that have been or would have been earned on the account. The penalty applies whether or not the dividends have been earned and may result in the loss of principal. Exceptions to Early Withdrawal Penalties: We may, at our discretion, pay the account before maturity without imposing an early withdrawal penalty under the following circumstances: (1) if an account owner dies or is determined to be legally incompetent by a court or other body of competent jurisdiction; (2) if the account is an IRA Account and any portion is paid within seven days after the establishment of the account provided the depositor forfeits an amount at least equal to the simple dividends earned on the amount withdrawn; (3) and if the account is an IRA Account and the owner attains the age of 70 ½.
    9. RENEWAL POLICY. Unless you otherwise instruct us, your certificate will automatically renew at maturity. You will have a grace period as indicated above after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.
    10. 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 Credit Union.
    11. DOUBLE PLAY PROMOTIONAL FEATURE. From time to time the Credit Union may designate certain certificates to have a rate adjustment during the life of the certificate. If this feature is made available, the dividend rate will be considered to be variable. If the member exercises their right to make an adjustment, the rate to which the certificate is adjusted will be the rate offered on the same type of certificate with the same term as originally contracted on the certificate, but it will not change any other feature of the certificate including the maturity date.
    12. IRA CERTIFICATES. Any certificate may be opened as an IRA Certificate.
    13. PROMOTIONAL CERTIFICATES. Promotional certificates are only offered for a limited time. A promotional certificate will automatically renew as a custom certificate with the same term, but may have different features. The same renewal options apply. See Section 9 for more details. Promotional certificate external funds are funds not currently on deposit with ORNL Federal Credit Union. Promotional certificate internal funds are funds currently on deposit with ORNL Federal Credit Union.
    The rates and fees appearing in this Schedule are accurate and effective for accounts as of the Effective Date indicated on page 1 of this Rate Schedule. If you have questions or require current rate information on your accounts, please call 865-688-9555 or 800-676-5328.

  • Spending & Savings Disclosures

    TRUTH-IN-SAVINGS DISCLOSURES

    The following disclosures and terms apply to your accounts with the Credit Union. The Rates & Fees Schedule also sets out terms of your accounts and is hereby incorporated by reference as if fully set forth herein.

    1. RATE INFORMATION. Please see our current Rates & Fees Schedule for current Annual Percentage Yield (APY), any applicable tiers, and variable rate accounts. The Annual Percentage Yield (APY) 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. The dividend rate and Annual Percentage Yield (APY) may vary as expained in the Rates & Fees Schedule and may change at any time as determined by our Board of Directors. You must provide and maintain minimum opening deposits and/or minimum daily balances in order to earn the APYs stated on the Rates and Fees Schedule, if so indicated. For tiered accounts, your rates will change according to the table disclosed in in the Rates & Fees Schedule, as your balance fluctuates.
    2. NATURE OF DIVIDENDS. Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.
    3. COMPOUNDING AND CREDITING. The frequency with which Dividends will be compounded and credited and the Dividend Period is set forth on the Rates & Fees Schedule. The Dividend "Period" begins on the first calendar day of the period and ends on the last calendar day of the period. If you close your account before dividends are paid, you will not receive the accrued dividends.
    4. MINIMUM BALANCE REQUIREMENTS. The minimum balance requirements for each account is set forth on the Rates & Fees Schedule. Minimum balance requirements may include a minimum opening deposit, the minimum balance that you must maintain in the account to avoid service fees, and the minimum balance that you must maintain each day to earn the stated Annual Percentage Yield for that account. The Par Value of a share in this credit union is also disclosed on the Rates & Fees Schedule. For Accumulation Individual Retirement Accounts, the minimum deposit required to open the account is $500.00. However you may agree to make deposits via payroll deduction, which would bring your account balance to $500.00 within 12 months of the account opening date. IRA's closed or taken below $500.00 balance within 0 - 6 months of opening will be assessed an early withdrawal penalty.
    5. BALANCE COMPUTATION METHOD. We use the Daily Balance Method to calculate Dividends on your account, as indicated on your Rates & Fees Schedule. The Daily Balance Method applies a daily periodic rate to the balance in the account each day.
    6. ACCRUAL OF DIVIDENDS ON NONCASH ITEMS. Dividends will begin to accrue on the business day that you deposit noncash items (e.g. checks) to your account.
    7. FEES AND CHARGES. We may impose fees, charges, or penalties against your account(s). Please see our Rates & Fees Schedule for the types, amounts, and conditions of the fees and charges.
    8. ACCOUNT LIMITATIONS. For Money Market Savings account, no more than six debits per month. If more than six (6)debits occur within a month the account may be subject to a fee (see fee disclosure for details). Additionally, a monthly service fee may apply if a minimum balance is not maintained (see fee disclosure for details). For Escrow Accounts, withdrawals are allowed only for the purpose of paying real estate related expenses and withdrawals will be made by the credit union on your behalf. For Spending Plus Accounts, a monthly service fee may apply if a minimum balance is not maintained (see fee disclosure for details). For Digital Spending Accounts, only one account per member. Bounce Protection and overdraft protection is not offered for savings accounts or HSA Spending Accounts.
    9. DIGITAL SPENDING ACCOUNT. The minimum requirements to qualify for this account is as follows: enrollment in online banking, mobile banking, web bill pay, and e-statements and a minimum of one reoccurring direct deposit per month. A minimum of 15 debit card transactions must post and clear the account during the month to qualify for debit card earnings. ATM transactions are not included in the 15 minimum transactions per month. Maximum earnings per month is $10.00. Only oneDigital Spending Account per member.
    10. VISA CHECKCARD ROUND UP SAVINGS.

    An optional Round Up savings service is available on spending accounts with at least one VISA Check Card.
    AUTHORIZATION: Opting in to the Round Up service authorizes us to "round up" the amount of any debit card purchase made by you or a joint owner of your spending account to the next whole dollar amount and transfer the amount in excess of the purchase price from your spending account to your savings account. Consent must be given to us to begin or discontinue the service and can be authorized by any account owner.
    TRANSFER CALCULATION: The daily Round Up transfer is an aggregate of purchase activity made by all VISA Check Cards related to your spending account. No round up transfer will occur on any day should your spending account not have sufficient available funds for the transfer. Cancellation or reversal of a VISA Check Card transaction will result in the corresponding round up transfer remaining in the savings account.
    ACCOUNT TRANSFERS: The Round Up transfer can only be made to a savings, plan ahead savings, or money market accounts. No cross-account transfers are permitted.
    AVAILABILITY: The service is available on consumer accounts only. Business and other nonhuman  accounts  are  not  eligible.
    We are not responsible for any non-sufficient funds (NSF) fees that may result from outstanding items that post to the spending account after the daily Round Up transfer occurs. We reserve the right to cancel the VISA Check Card Round Up service at any time without  prior notice.

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