Fee Schedule
SHARE ACCOUNT, TRUTH IN SAVINGS DISCLOSURE, COURTESY PAY DISCLOSURE
Except as specifically described, the following disclosures apply to all accounts.
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. The dividend rate and annual percentage yield may change quarterly as determined by the Priority Credit Union Board of Directors.
Nature of Dividends. Dividends are paid from current income and available earnings after required transfer to reserves at the end of the dividend period. The dividend rate and the APY are the prospective rates and yields that the credit union anticipates paying for the applicable dividend period.
Compounding and Crediting. Dividends will be compounded quarterly and will be credited quarterly. If you close your share account before dividends are paid, you will not receive the accrued dividend
Accrual of Dividends. Dividends will begin to accrue on cash on the business day you make the deposit to your account. Dividends will begin to accrue on non- cash deposits (e.g. checks) on the business day you make the deposit to your account.
Balance Information. The minimum balance required to open a share account is $5.00. For a Share Draft account an initial deposit of $25.00 is required to open the account. No minimum balance requirements apply to this account.
Balance Computation Method. Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in the account for that period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the numbers of days in the period.
Transaction Limitations (Regulation D). The following transfer limitations apply to share accounts: no more than six (6) preauthorized, automatic or telephone transfers may be made from these accounts to another account of yours or a third party in any month, and no more than three (3) of these six (6) transfers may be made by check, draft or debit card to a third party. If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the credit union.
Dividends are not paid on Share Draft accounts but Interest is paid on the Green and Interest bearing checking.
RATE AND FEE SCHEDULE
This rate and fee schedule for all account sets forth certain conditions, rates, fees and charges applicable to your regular share and share draft accounts at Priority Credit Union. This rate schedule is available upon request or online at www.Prioritycu.org.
Dividends are compounded quarterly and are credited at the close of the period. For example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is March 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the last day of the dividend period and for this example is March 31.
CREDIT UNION MEMBERSHIP
| Service | Fee |
|---|---|
| Membership Share | $5.00 par value |
| Membership Fee | $1.00 (processing fee) |
ACCOUNT FEES (where applicable)
| Service | Fee |
|---|---|
| New Share Savings Account Processing Fee | $1.00/account |
| Dormant Account Fee (An account is considered dormant if for 12 months no withdrawals or deposits, other than credited dividends, have been made to the account. A dormancy fee is charged against the primary share savings only if all the share suffixes of the primary share are dormant. Minor accounts, accounts with balances of $1,000.00 or more, or accounts with a CD, IRA, VISA or Loan/Mortgage are not subject to the $10 dormant account fee, however, the account is still flagged as dormant.) |
$ 10.00/month |
| Certificates of Deposit | Contact your nearest office or see our web site www.prioritycu.org for current annual percentage rates. |
| Interest Checking | less than $1000/$15.00 monthly |
| 2nd Chance Checking Fee | $15.00 monthly |
| Overdraft Transfer Fee (Includes overdrafts for share drafts, POS, ATM and ACH) Funds are transferred from available funds in your primary shares suffix 0. Available funds are those which are free from check holds, share pledges, delinquent holds, incremental holds for loan payments, un-posted ATM/POS transactions, and miscellaneous account holds. |
$4.00/item |
| Share Draft Printing Fee | Prices vary upon styles |
| Paper Statement Fee | $5.00 |
| E-Statement | No Charge |
| Copy of Draft Fee | $3.00/draft |
| Line-of-Credit Transfer Fee Funds are transferred from the available credit on the credit line to your draft account in $100 increments. |
No Charge |
| Account Reconciliation Fee | $15.00/hr, $6.00/minimum |
| Garnishments/Levys Fee | $100.00 |
| Account Research Fee | $30.00/hr, $6.00 minimum |
| Wire Fee (Incoming / Outgoing) | $12.00 / $25.00 |
| Foreign Check Fee | $25.00/Item |
| Draft Payment/Deposit | $10.00/Item |
| Overnight Shipping Fee | $35.00/ minimum |
| Statement Copy Fee | $4.00/page |
| Stop Payment on Official checks or ACH | $20.00/Item |
| Non-member Check Cashing Fee | $2.00 per $100 |
| Stop Payment on reoccurring debit trans | $25.00/item |
| NSF Fee (Includes share drafts, phone drafts, all POS, ATM, Internet BillPayer and ACH Debits) |
$25.00/item |
| Courtesy Pay Fee (Includes share drafts, phone drafts, all POS, ATM, Internet BillPayer and ACH Debits) |
$25.00/item |
| Returned Item Fee /Uncollected funds fee | $25.00/item |
| CU issued official checks (Unless payable to the account holder only, no charge) |
$5.00 per check |
| Account history print-out (limited to 2 weeks) | $2.00 |
| Verification of Deposit | $20.00/item |
| Return mail fee | $5.00/item |
| Dormant Account fee | $10.00/month |
| Visa Pre-paid/reloadable | $3.95 Initial / $3.95 |
| Money Order Fee | $1.00 |
| Coin Fee | 1% fee for deposits (over $50/week) |
| Bill Payment (standard service) | No Charge |
| Check Copies of On-Line Bill Payment | $10.00/Check |
| Stop Payment of On-Line Bill Payment | $15.00 Per Request |
ATM & POS FEES
| Service | Fee |
|---|---|
| STANDARD ATM /DEBIT CARD (Money Pass/Plus/Presto/Pulse/Star) | FREE |
| PCU will charge the following fees for an ATM not in Network | Withdrawal: $1.00 | $1.00 (Savings) Transfer: $1.00 Inquiry: $0.50 |
| ATM Non-member surcharge (Withdrawal, Transfer, Inquiry) |
$3.00 |
VISA DEBIT CARD
| Service | Fee |
|---|---|
| ATM Transactions | same as standard ATM cardPoint-of-Sale |
| Point-of-Sale (Debit purchases with pin or signature) |
No Charge |
| Other | No Charge (phone/mail purchase) |
| Replacement Card | $5.00/per card |
COLLECTION DEPARTMENT LOAN PAYMENTS
| Service | Fee |
|---|---|
| Online Payment (card or bank account) | $4.99 |
| Check | $4.99 |
| Loan Extension | $50.00 |
| LOAN PROCESSING FEE | $35.00 |
EFT NOTICE
If you pay something with a check or share draft, you may authorize your check or share draft to be converted to an electronic fund transfer. You may also authorize merchants to electronically debit your account for returned check fees.
The fees appearing in the schedule are accurate and effective for deposit accounts as of the last dividend declaration date. If you have any questions or require current rate and fee information on your accounts, please call Priority Credit Union at (407) 425-2561.
COURTESY PAY PROGRAM
Courtesy Pay is a service that allows us to pay a check; electronic funds transfer (ACH), POS/debit card transaction, ATM withdrawal or Internet BillPayer transaction on our members’ checking accounts even if it causes the account to become overdrawn. Courtesy Pay may provide certain accountholders in "good standing" with the ability to overdraw their checking account up to $500 plus any Courtesy Pay fees.
If the member is at least 18 years of age and the checking account has been open at least 60 days and maintained in good standing, defined as A) Making regular deposits sufficient to cover transactions; B) Bringing the account to a positive balance at least once every thirty days or less; C) There are no legal orders outstanding on your account; D) There has been no derogatory account history, and; E) There are no loan or credit card accounts more than thirty days delinquent, we may, at our sole discretion, pay overdrafts up to the limits mentioned above, including our normal Non-Sufficient Funds and/or Courtesy Pay charge(s). Whether we pay or return an item, your account will be assessed a fee, either as a Courtesy Pay charge or a Non-Sufficient Funds charge but you will not be charged both fees.
Courtesy Pay offers additional flexibility and convenience in managing accountholder funds, and provides peace of mind knowing that written checks may be paid up to the authorized overdraft limit. Checks may not be processed in the order in which they occurred and the order in which transactions are received by the credit union and processed can affect the total amount of overdraft fees incurred. It costs nothing unless the privilege is used by initiating checks for more than is on deposit in the account. If you maintain the account in good standing and have need for this “courtesy”, we may, at our sole discretion, pay the item(s) up to the authorized limit, and we will charge the account our normal Courtesy Payment fee for each item that overdraws the account. We will send you a notice each time an overdraft occurs.
Courtesy Pay allows Priority Credit Union to provide a higher level of service to our members by helping to protect your account and reputation when an inadvertent overdraft occurs. Please read the policy below, to further clarify any questions you may have. If you still have questions, do not hesitate to contact our Member Services at 407-425-2561.
COURTESY PAY POLICY
It is the policy of our financial institution to comply with applicable laws and regulations, and to conduct business in a SAFE and SOUND manner. We are not obligated to pay any item presented for payment if the account does not contain sufficient collected funds. However, if the accountholder is at least 18 years of age and the checking account has been open at least 60 days and maintained the account in good standing, Courtesy Pay may provide certain accountholders in “good standing”, with the ability to overdraw their checking account up to $500.00 plus any Courtesy Pay fees.
We may refuse to pay an overdraft at any time, regardless of previously paid overdrafts. The accountholder will be notified by mail of any Non-Sufficient Funds items paid or returned that the account may have. However, we have no obligation to notify the accountholder before we pay or return an item. The amount of any overdrafts, plus our Non-Sufficient Funds and/or Courtesy Pay fee(s) that the accountholder owes is due and payable upon demand.
If we pay an overdraft on an account with more than one (1) owner on the signature card, each owner, and/or agent where applicable, drawing/presenting the item, thereby creating the overdraft, are jointly and severally liable for such overdrafts plus the Non-Sufficient Funds and/or Courtesy Pay fee(s).
Opt Out:
An account may be removed from the Courtesy Pay program for members who do not wish to have Courtesy Pay protecting their account from overdrafts. At your request, your account can be removed from coverage of any future Courtesy Pay overdrafts. Any items clearing the account without Courtesy Pay and/or sufficient funds will be returned. A Non-Sufficient Funds fee will be charged. To opt out of the Courtesy Pay program, contact us at 407-425-2561 or write to Priority Credit Union, Attn: Member Services, 301 East Michigan Street, Orlando, FL 32806 and inform us of your wish to be removed from Courtesy Pay.
Limitations:
This feature is limited to personal and business checking accounts. We reserve the right to not approve any overdrafts against any account until we can verify that the account is being maintained in good standing, as defined above.
Account Fees:
Whether we pay or return a Non-Sufficient Funds item, a per-item fee will be charged to the account as a Non-Sufficient Funds or Courtesy Pay fee, as set forth in the Rate and Fee Schedule.
Courtesy Pay Disclaimer:
Priority Credit Union’s Courtesy Pay plan is a non-contractual courtesy and is discretionary. It is not an obligation of the Credit Union and the Credit Union may refuse to provide the courtesy on any checking account, at any time, and from time to time. The accountholder does not have a contractual right to Courtesy Pay and Courtesy Pay is not guaranteed by the Courtesy Pay plan.
MAIN OFFICE
301 EAST MICHIGAN ST
ORLANDO, FL 32806
TRADEPORT BRANCH
10401 POST OFFICE
BLVD, Suite 99
ORLANDO, FL 32862
LAKE MARY BRANCH
800 RINEHART RD.
STE. 303
Lake Mary, FL 32746
W. MELBOURNE BRANCH
2305 MINTON ROAD
W. MELBOURNE, FL 32904
WINTER GARDEN BRANCH
15155 W. COLONIAL DRIVE
WINTER GARDEN, FL 34787
LAKELAND ATM
2800 LAKELAND HILLS BLVD.
LAKELAND, FL 33805
Main Number: (407) 425-2561
