NCUA – NCUA - Your savings federally insured to at least $100,000 and backed by the full faith and credit of the United States Government

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

TERMS AND CONDITIONS
The following terms and conditions governing your Money Market Account constitute a mutually protective service agreement between you and Travis Credit Union (the “Credit Union”).  The Membership Disclosure Statement brochure is included by reference.

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

When opening a Money Market account, you must select one of the types of accounts shown above: The Flexible Money Market, Sterling Money Market, the Premiere Money Market, the Premiere Plus Money Market or the Jumbo Money Market. Each account type has specific minimum balance requirements to open and to earn the posted dividend rates. If your balances increase and would meet the requirements of any other higher account level, the credit union does not automatically convert you to that account type. Likewise, if your balance decreases below the minimum requirements but would meet the requirements of a lower account level, the credit union does not automatically convert you to that account type.  You must make the request and initiate the change with the credit union. Upon receipt of your request, the account can be converted. However, the higher dividend rates and balance requirements are not retroactive, but are effective from the date of conversion.
 

TIERED RATES ON MONEY MARKET ACCOUNTS

Except for the Flexible MMA, if your balances increase and would meet the requirements of any other higher account level, the credit union does not automatically convert you to that account type. Likewise, if your balance decreases below the minimum requirements but would meet the requirements of a lower account level, the credit union does not automatically convert you to that account type.  You must make the request and initiate the change with the credit union. Upon receipt of your request, the account can be converted. However, the higher dividend rates and balance requirements are not retroactive, but are effective from the date of conversion.

The table at the top of this disclosure shows the current dividend rates and APY for each balance tier. End-of-day balances will earn different daily dividend rates depending on the applicable tier.  For example, on a Sterling Money Market account, if your end-of day balance is $7,000, you would earn the dividend rate shown in the table above for the $0 to $24,999.99 balance range for that day on the entire balance and if next day your end-of day balance is $26,000, you would earn the dividend rate shown in the table above for the $25,000 or more balance range for that day on the entire balance.

Flexible MMA

The Flexible MMA has a wider range of balance tiers with specific rates.  As with the other money market accounts the end-of-day balances will earn different daily dividend rates depending on the applicable tier.  For example, if your end-of day balance is $7,000, you would earn the dividend rate shown in the table above for the $0 to $7,499.99 balance range for that day on the entire balance, and if next day your end-of day balance is $26,000, you would earn the dividend rate shown in the table above for the $25,000 to $49,999.99 balance range for that day on the entire balance.

If your Flexible MMA balance is below $100 for 90 consecutive days, the account will be closed and the balance transferred to your share account. 

**Jumbo Money Market Account
The Jumbo Money Market rate and corresponding APY is conditioned upon the money market account holder also maintaining a checking account and receiving a direct deposit to their checking account of $500 or more each month.  If these conditions are not met, the APY will be 50 basis points (one half of 1 percent) lower than the stated APY with a corresponding lower dividend rate.

When you open a Jumbo MMA and establish a checking account and a $500 minimum direct deposit, you will have a 60-day grace period for the first direct deposit to be credited to your checking account. 

ANNUAL PERCENTAGE YIELD (APY) 
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. 

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 calendar year is January 1, and the ending date of the dividend period 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. If you close your account before dividends are posted, we may credit any accrued dividends at the time you close your account. 
Dividends are compounded monthly on a 365/365 basis, using the daily balance method. The dividend rate is divided by 365 days to determine the daily periodic rate. The daily periodic rate is then applied to the entire account balance each day. 
At the Credit Union’s discretion, we may change the dividend rate and applicable Annual Percentage Yield (APY) on your account at any time without prior notice. We advise members to periodically inquire at their branch or by calling 1-800-877-8328 or 707-449-4000 about current rates. 

POINT OF ACCESS
You can access your Money Market Account by check, Call-24, Travis Credit Union ATMs, Home Banking, mail and in person.

ATM ACCESS TO YOUR MONEY MARKET ACCOUNT 
ATM Access to your Money Market Account is limited to Travis Credit Union ATMs only. You cannot access your money market account through a non-Travis ATM or Point of Sale Terminal. 

USE OF CHECKS
You may want to use checks to access your Money Market Account.  A maximum of 40 checks may be ordered at any given time.  There are federal restrictions on use of checks.  See Transaction Limitations below.

TRANSACTION LIMITATIONS 
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 or automatic transfer or telephonic order or instruction. 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 money market account and move the balance to another type of account that allows for more transactions without penalty.
Money market accounts do not have overdraft protection nor can the money market account be used as an overdraft protection source for your checking account.  

GENERAL AGREEMENTS

1. You agree to use the forms supplied by the Credit Union.  The Credit Union reserves the right to return unpaid any other form of order presented or any form incompletely or defectively drawn. 
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 any checks that appear to have been altered, that we believe are invalid, or nonnegotiable or that are not payable to you. 
4. We will make payments on current checks drawn on available funds in your money market account when signed by any person authorized on your membership card. 
5. A postdated check is a check dated later than the day it was actually presented for payment.  We are under no obligation to hold a post-dated check and we reserve the right to process every item presented as if dated the same date received by us or our check processor unless you give us notice as required under the UCC and a reasonable opportunity to act on it. A stale dated check is a check dated six months or more before the day it was actually presented for payment.  We are under no obligation to pay a check on which the date is more than six (6) months old, but we may pay the check in our discretion Except where the required notice is given, the account holder agrees not to hold the Credit Union liable for paying or denying payment of any postdated or stale dated checks.

6. Credit union bylaws permit the right to require 60 days written notice of your intention to withdraw or transfer shares. 
7. The credit union reserves the right, at its sole discretion, to refuse to open a money market account or accept any further deposits. The credit union also reserves the right, at its sole discretion and upon prior notice to you, to discontinue or limit the practice of allowing withdrawals by check, draft, or other negotiable order. Any such prior notice shall advise you that the credit union reserves the right after the date specified in said notice not to make payment on any money market account check, draft, or other negotiable order drawn on such account. After the date specified, the credit union shall not be obliged to make any payment from such account, except for the purpose of closing such account.
8. The credit union is not required to honor any restrictive or conditional legend or endorsement on a check you write unless the credit union has agreed in writing, signed by an officer of the credit union to the restriction or condition. An example of a conditional legend is “pay upon completion of work.” Examples of restrictive legends are “must be presented within 90 days” or “not valid for more than $1,000.” 
9. You will not receive canceled checks with your statement, although images of all checks are captured and retained electronically for seven years. Copies of checks are available on request. If you need a copy of a check, the credit union will furnish a free copy of the first two checks requested for each statement period. Copies of checks beyond the first two checks requested are subject to a small fee. Please refer to the Schedule of Fees and Charges for current fees. 

STOP PAYMENTS
Provided such request is timely so that we have a reasonable opportunity to act upon it and you have described the item or account with reasonable certainty, you can place a stop payment on any check drawn on your account before the check has been cleared for payment by notifying us.  At your request and risk, the Credit Union will accept a stop payment order.   If you notify us orally, you must follow up with a written request.  If we do not receive the written request within 14 calendar days of the oral notification, the stop payment will lapse.    To stop payment, complete a stop payment order form at a branch or mail a written, signed request.  In order for us to effectively stop payment on a check, our computer system requires absolute accuracy.  A discrepancy in any information could void the order.  We need to know:  (1) Your account number, (2) The exact amount, (3) check number(s), if applicable, (4) The name of the person who signed the check and (5) the name of the party to whom the check was made payable.  A stop payment will not go into effect until the Credit Union verifies that the check or debit is still unpaid.  The order remains in effect for six months and may be renewed for a fee at the end of that period.  You may write the Credit Union to cancel a stop payment order at any time. The Credit Union will not accept responsibility so far as it may lawfully limit its liability for the consequences of the stop payment order.   You have the burden of establishing the fact and the amount of the loss resulting from any stop payment contrary to a binding stop payment.  For information on EFT stop payments, please refer to the Membership Disclosure Statement.

STATEMENT CYCLES
Active accounts receive monthly statements to enable you to reconcile your records. Accounts with no activity will receive a quarterly statement. Monthly statements will not be sent on accounts for which there is no activity in a given month; however, all accounts will receive a statement at least quarterly. Statements are mailed at the convenience of the Credit Union, usually near the beginning of the month.  Electronic statements are usually posted by the second business day of the month. If you would like a statement prior to the time one is normally furnished, you can request a printout of your account history. The charge for this special printout service is listed on the Schedule of Fees and Charges. 

CHANGE IN TERMS
The Credit Union reserves the right to change the terms and conditions of your account at any time, including the fee schedule. A notice of any changes that would affect your account will be mailed to you 30 business days in advance of the effective date of change.