This disclosure supplements your Business Membership Disclosure Statement, Business Account Application and other applicable disclosures. Please keep these documents together for your records. 

TERMS AND CONDITIONS:  The following terms and conditions governing your Share Account constitute a mutually protective service agreement between you and Travis Credit Union .  The Membership Disclosure Statement and the Business Account Schedule of Fees and Charges are included by reference. The words “You,” “Your,” and “Yours” mean each and all of those who sign an account application.  The words “We,” “Us,”  “Our,” and "Credit Union" mean Travis Credit Union.

Opening this account is conditioned on maintaining a business membership in the Credit Union. See the Membership Disclosure Statement.

TIERED RATES ON BUSINESS SHARE ACCOUNTS: The table at the top of this Disclosure shows the current dividend rates and annual percentage yield for each balance tier. Your End-of-day balances will earn different daily dividend rates depending on the applicable tier. For example, in the table at the top of this Disclosure, end-of-day balances within the $100.00 to $5,000.00 tier will earn a different dividend rate than end-of-day balances within the $10,000.01 or more tier. 

DIVIDEND INFORMATION: Dividends begin to accrue on the business day you make a deposit regardless of whether the deposit is cash or non-cash, but do not accrue on the date of withdrawal for the amount of the withdrawal. Dividends are paid on a monthly basis on the first day of each month following the dividend period. For example, the beginning date of the first dividend period of the year is January 1, and the ending date of the dividend period is January 31. The dividends would be posted following the end of the dividend period, which for this example would be February 1. This dividend and the resulting Annual Percentage Yield Earned (APY Earned) in this example would appear on the February statement. All other dividend periods follow this pattern of dates. Dividends are compounded monthly on a 365/365 basis, using the daily balance method. The dividend rate is divided by 365 days a year to determine the daily periodic rate. The daily periodic rate is then calculated against the principal balance in the account each day. If you close your account before dividends are credited, we may credit these accrued dividends at the time you close your account. At our discretion, we may change the dividend rate and applicable Annual Percentage Yield (APY) on your account at any time without prior notice. Current dividend rates appear on your statement. 

ANNUAL PERCENTAGE YIELD (APY): The Annual Percentage Yield (APY) is a percentage rate that measures the total amount of dividends paid on an account based on the dividend rate and the frequency of compounding for a twelve-month period. The APY calculation is based on an assumed term of 365 days. If you withdraw dividends before this period, it may reduce your earnings. 

MINIMUM BALANCE TO OBTAIN DISCLOSED ANNUAL PERCENTAGE YIELD (APY):  Currently Travis Credit Union does not require a minimum balance in a Share Account to obtain the disclosed APY.   However, since dividends of less than 1¢ will not be paid, a minimum balance sufficient to earn at least 1¢ is needed to obtain the APY. 

CHANGE IN TERMS:  The Credit Union reserves the right to change the terms and conditions of your account and this Disclosure at any time, including the Schedule of Fees and Charges.   We generally send the notice before the effective date of the change.  However, unless a different time is stated in the notice, the changes will be effective immediately.

GENERAL AGREEMENTS:

1. You must open and maintain a $5 minimum balance in a Business Share Account.

2. All non-cash deposits are received and credited by the Credit Union subject to final collection, please refer to our Funds Availability Brochure.

3. The Credit Union may refuse to accept for deposit checks that appear to have been altered, that we believe are invalid or non-negotiable or that are not payable to you or the business name of records; and

4. The Credit Union reserves the right, at its sole discretion, to refuse to open a share account or to accept any further deposits to any existing account.

STATEMENTS: All ACH, ATM or Call-24 transactions will be reported with your regular account activity on a statement mailed to your address of record. For this reason, always keep the Credit Union informed if your mailing address changes. If you only have a Share (Savings) Account, you will receive a statement at least once each calendar quarter. You will only receive a monthly statement when ATM, Check Card or Call-24 activity has occurred. If you have an active Business Checking Account, you will automatically receive a statement each month, even if no ATM or Call-24 activity has occurred. Statements are usually mailed during the first 10 business days of the month. If you would like a statement prior to the time one is normally furnished, you can request a printout of account history from the branch. The charge for this special printout service is listed on the Schedule of Fees and Charges. 

TRANSFER LIMITATIONS:  Certain types of withdrawals are limited by federal regulations.  During any month, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized, automatic transfer or telephonic order or instruction, including online banking.  No more than three of the six transfers may be made by check, draft or similar order to a third party.  If you exceed the transfer limitations set forth above in any month, your account will be subject to an excessive transaction fee of $15 per month.

If there are continuous excessive transactions in violation of the limits stated above, the Credit Union is required to close your share account and move the balance to another type of account that allows for more transactions without penalty.

There is no limit to the number of withdrawals made to you in person, at an ATM or through the mail.

MONTHLY TRANSACTION ACTIVITY:  Business transactions should only be processed through the business checking account.  If the share account or a money market account is also used for processing transactions, the business Checking Monthly Transaction Activity Allowance detailed in the Business Checking Account Disclosure will apply to the aggregate of transactions processed through all accounts in calculating per item charges for exceeding the allowance limits.

NOTICE OF WITHDRAWAL:  Credit Union Bylaws permit the right to require 60 day’s written notice of your intention to withdraw or transfer shares.