Savings Services

Share Account

• A member must maintain a minimum balance of $25.00 in their account each day to obtain the disclosed annual percentage yield (APY).
• Dividends are compounded and credited quarterly.
• The dividend rate and APY may change every quarter.
• The dividend rates are determined by the credit union board of directors.
• Quarterly statements are mailed out for share accounts.
• Monthly statements are mailed out for share draft accounts and money market accounts.
• This account can act as an overdraft option for share draft accounts.

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Special Share Account

• Compounding, accruals, and crediting of dividends are of the same relation as the share account.
• There is no minimum balance for this account.
• The transaction limitations are the same as the share account.

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Christmas Club Accounts

• Dividend rate and annual percentage yield may change each quarter.
• Board of Directors determine dividend rate.
• Dividends are compounded and credited every quarter.
• If share account is closed before dividends are paid quarterly, member will not receive the accrued dividends.
• No minimum balance required.
• Dividends are calculated by the daily balance method.
• Member may not make any withdrawals or transfers to another credit union account by means of a preauthorized transfer or telephone order.
• On November 10 of each year, all funds on deposit in members Christmas Club account will be mailed to member for that account.

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6 & 12 Month Share Certificate Accounts

• Dividend rates are determined by managements discretion weekly.
• When account is opened, member will be paid current rate set until first maturity.
• On 6-month Share Certificate accounts, dividends are compounded daily and paid at maturity unless the member requests a monthly dividend check.
• On 12-month Share Certificate accounts, dividends accrue daily and are compounded and paid quarterly unless the member requests a monthly dividend check.
• The minimum balance required is $5,000.
• This amount must be maintained daily to obtain the disclosed annual percentage yield.
• Dividends are calculated by the daily balance method.
• After the account is opened, member may not make additions into the account until the maturity date.
• Member may make withdrawals of principal from this account before the maturity only if credit union agrees at the time withdrawal is requested. Principal withdrawals before maturity may be subject to an early withdrawal penalty. A withdrawal of this type will reduce dividend earnings.
• This account will not automatically renew at maturity. If member does not renew the account at maturity, the funds will be placed in a dividend-bearing account.

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Money Market Accounts

• The dividend rate and annual percentage yield may change every week at managements discretion.
• Dividends are compounded and credited to members account every month.
• Minimum balance required to open and maintain the account is $2,500.
• Dividends are calculated by the daily balance method.
• Minimum deposit allowed is $100.00 per deposit and withdrawal. If balance falls below $2500.00, members' account will be closed.
• This account may be used as an overdraft option.

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IRA Accumulation Accounts

• The dividend rate and annual percentage yield may change every quarter.
• IRA rates are determined by management.
• Dividends are compounded and credited to your account every quarter.
• No minimum balance is required.
• Dividends are calculated by the daily method.
• Member may not make any withdrawals or transfers to another account or third party by means of preauthorized or automatic transfer, or telephone order.
• Fees may be assessed for early withdrawals on term accounts.

*Member accounts of Lakeside are federally insured by the NCUSIF (National Credit Union Share Insurance Fund) up to $250,000 against loss due to the failure of the credit union for any reason. This insurance is provided by NCUA (National Credit Union Administration) which is a regulator of federal credit unions.

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$250,000 NCUA Share Insurance Now Permanent

Federally insured credit union member accounts are insured to at least $250,000 by National Union Share Insurance Fund, a federal insurance fund backed by the full faith and credit of the Government. A temporary increase from $100,000 to $250,000 was effective from October 3, 2008 through December 31. 2009. On May 20, 2009 , the temporary increase was extended through December 31, 2013, and now the $250,000 federal insurance protection becomes permanent.

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