Deposit Rates

Rates are subject to change without notice. See bottom of page for additional disclosures.

ACCOUNT TYPE RATE APY*
     
Share ($5 minimum)    
Sub Shares .10% .10%
Kids' Club / Teen Savings .10% .10%
Custodial Savings .10% .10%
Homeowner Savings .25% .25%
Holiday Club .25% .25%
     
Checking/Share Draft N/A N/A
     
Money Market**    
Money Market Gold ($15,000 minimum) .20% .20%
     
Basic Money Market ($2,500 minimum)    
$25,000 & Over .15% .15%
$10,000 to $24,999.99 .15% .15%
$2,500 to $9,999.99 .15% .15%
     
Share Certificates ($1000 minimum)    
6 Months .20% .20%
12 Months .30% .30%
24 Months .35% .35%
36 Months .40% .40%
48 Months .60% .60%
60 Months .75% .75%
     
*APY=Annual Percentage Yield. Rates subject to change without notice.
**Subject to fees based on balance, fees may reduce earnings.
   


Additional Disclosures

Transaction Limitations - Share Accounts

During any calendar month, you may make a total of only six (6) transfers (including online, audio, or phoning us) or preauthorized withdrawals to another credit union account of yours or to a third party by means of a pre-authorized transfer or telephonic order or instruction, check, draft, debit card, ACH, or similar order to a third party. Otherwise, you may make unlimited transfers and withdrawals if made in person or by mail, or Automated Teller Machine (ATM). If you exceed the transfer limitation set forth above in any statement period, your account will be subject to closure by the credit union. You may make unlimited deposits to these accounts unless otherwise noted.

Additional limitations as follows:

Homeowners Savings:
This account is available only to homeowners who have their 1st or 2nd mortgage with OTCU. If you have a homeowner account and you pay off your mortgage with OTCU, your account will be closed and the funds transferred to your regular share account. This account is intended to be used to save for real estate taxes and homeowners insurance. Online banking withdrawals are not allowed from this type of account.

Holiday Club Accounts:
Holiday Savings accounts are paid into regular savings on Sept. 30th of each year unless otherwise requested in writing. Money will be accessible on October 1. Deposits are limited to a maximum of $7,500 per year, and no more than $625 in any single month. If any withdrawal is made from this account after the tenth day of opening or renewal, but before club distribution date, you will be charged $10.00. The fee will be waived if the account is closed. However, the account may not be re-opened until the next club year begins. Online banking withdrawals are not allowed from this type of account.


Transaction Limitations - Share Certificates

After the account is opened, you may not make deposits into the account until the maturity date stated on the certificate. All dividends paid will be paid into this account (unless otherwise indicated on the CD), and cannot be withdrawn until the maturity date of the certificate.

Early Withdrawal Penalties:
We may impose a penalty if you withdraw any of the funds before the maturity date. The penalty will be equal to ninety (90) days dividends on your total account balance for terms less than or equal to one year. The penalty is equal to 180 days on all CD terms longer than one year.

Renewal Policies:
Your certificate account will automatically renew at maturity at the dividend rate currently in effect at that time. You will have a grace period of 10 days after the maturity date to withdraw the funds in the account without penalty.


Transaction Limitations - Money Market Accounts

Money Market Gold:
Unlimited # of deposits allowed. Maximum of 3 withdrawals per month, regardless of method (check, transfer, cash, or automated debit). If you exceed 3 withdrawals per calendar month, you will be charged a fee of $5.00 per withdrawal. Balances falling below $15,000 earn a dividend equal to the rate paid on regular savings, and will incur a $15 monthly service charge.

Basic Money Market:
Unlimited # of deposits allowed. Maximum of 3 withdrawals per month, regardless of method (check, transfer, cash, or automated debit). If you exceed 3 withdrawals per calendar month, you will be charged a fee of $5.00 per withdrawal. Balances falling below $2,500 earn a dividend equal to the rate paid on regular savings, and will incur a $10 monthly service charge.