778 Beatty Ave
Knox, PA  16232
(814) 797-5768

 
   



 

 



Savings Accounts at KGC Federal Credit Union


KGC Federal Credit Union offers members a variety of different savings accounts for different needs.

Share Savings Account

 

Members are required to open and maintain a share savings account with an opening balance requirement of $5 and a one-time membership fee of $1.00.  Your dividends are compounded and credited quarterly on your average daily balance of $200 or more.  

 

Annual Percentage Yield

0.05% APY

Dividends Compounded 

Quarterly

Dividends Credited

Quarterly

Dividend Period

Calendar Quarter

Minimum Opening Deposit

$5.00

Minimum Balance to Avoid Service Charge

N/A

Minimum Balance to earn the Stated APY

$200.00

Balance Method

Average Daily Balance

 

Christmas Club Accounts

 

A Christmas Club Account is a great way to save for holiday expenses.  You may open a Christmas Club at anytime during the year with no minimum balance requirement.  Make regular deposits to your Christmas club as a way to save for holiday expenses.  Your dividends are compounded and credited quarterly on your average daily balance. In October, after the final credit of dividends to your account, we'll distribute the account balance to either your share or share draft account.  You also have the option to receive a check through the mail.  

 

Annual Percentage Yield

0.05% APY

Dividends Compounded 

Quarterly

Dividends Credited

Quarterly

Dividend Period

Calendar Quarter

Minimum Opening Deposit

N/A

Minimum Balance to Avoid Service Charge

N/A

Minimum Balance to earn the Stated APY

N/A

Balance Method

Average Daily Balance

 

IRA Accounts

 

We offer Individual Retirement Accounts (IRAs) that can provide you with a comfortable nest egg when you retire.  Rules for deposits and withdrawals are subject to federal regulations.  There is no minimum balance to open this type of account, and automatic deposits are available.  Your dividends are compounded and credited quarterly on your average daily balance.  

 

 

Annual Percentage Yield

0.75% APY

Dividends Compounded 

Quarterly

Dividends Credited

Quarterly

Dividend Period

Calendar Quarter

Minimum Opening Deposit

N/A

Minimum Balance to Avoid Service Charge

N/A

Minimum Balance to earn the Stated APY

N/A

Balance Method

Average Daily Balance

TRUTH-IN-SAVINGS ACCOUNT DISCLOSURES

Except as specifically described, the following disclosures apply to all of the accounts described above.  You may receive a current written Rate and Fee Schedule upon request.  

1.         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.  For Regular Share, Christmas Share, and IRA Share Accounts, the Dividend Rate and Annual Percentage Yield may change monthly as determined by the credit union's Board of Directors. The Dividend Rates and Annual Percentage Yields are the rates and yield as of the last dividend declaration date, which is set forth in the Rate Schedule. Any fees applied to your account could reduce earnings.

2.         Nature of Dividend.  Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period.

3.         Dividend Compounding and Crediting.  The compounding and crediting frequency of dividends and divided period applicable to each account are stated in the Rate Schedule.  The Dividend Period is the period of time at the end of which an account earns dividend credit.  The Dividend Period begins on the first calendar day of the period and ends on the last calendar day of the period.

4.         Accrual of Dividends.  For all accounts, dividends will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account.  If you close your account before accrued dividends are credited, you will not receive the accrued dividends.

5.         Balance Information.  To open any account you must deposit or already have on deposit at least the par value of one full share in a Share account.  The par value amount is stated in the Fee Schedule.  Some accounts may have additional minimum opening deposit requirements.  The minimum balance requirements applicable to each account are stated in the Rate Schedule.  For all accounts, there is a minimum Average Daily Balance required to earn the Annual Percentage Yield disclosed for the dividend period.  If the minimum average daily balance is not met, you will not earn the Annual Percentage Yield stated in the Rate Schedule.  For accounts using the Average Daily Balance method as stated on the Rate Schedule, dividends are calculated by applying a periodic rate to the Average Daily Balance in the account for the dividend 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 number of days in the period.

 6.         Account Limitations.  For all accounts, no account limitations apply.

FEE SCHEDULE

Share Draft Account Fees

Lost Checks $15.00/series
Overdraft Transfer $3.00/item
NSF Item $32.00/item
Stop Payment $15.00/item
Drafts Return $2.00/month
Fax Copy of Draft $3.00/item
Mailed Copy of Draft $2.00/item
Draft Image $2.00/item
Early Closing Fee $5.00 within first 30 days savings
Checking & Savings Closing Fee $12.00 checking/ $5.00 Savings

 Debit Card Fees

Monthly fee $1.00 per account
NSF fee $32.00 per item
Card replacement fee $6.00 per card
Overdraft transfer from shares $3.00 per item
EFT Charges $1.00 per withdrawal in excess of four (4) per month
Invalid Transactions $0.50 per occurrence

Other Service Fees

International Wire Fee $30.00/transfer
Third Party Wire Fee $12.00/transfer
Deposited Item Return $15.00/item
ACH NSF Item $32.00/item
Money Orders $0.75/item
Money Order Copy $3.00/item
Money Order Stop Payment $1.00/item
Bad Address fee $3.00/item
Dormant Account fee $3.00/month from July to December in 5th year of inactivity.
ACH Overdraft transfer fee $3.00/item
Cashiers Check fee $6.00/item
ACH Origination Setup fee $6.00
Printout of account $12.00 checking/ $5.00 Savings
Notary Service $5.00/item

CU Money Card Fees

Card Purchase $4.95
Monthly Maintenance fee $1.75
Funding fee .50
ATM Withdrawal fee $1.50
CU Reload fee $1.50
Denied Transaction fee $.50
Inactivity fee $3.00/mo
Replacement Card fee $5.00
Negative Balance fee .50
Reissue Expired Card fee $3.50

Credit Union Membership

  • Membership Share………………$5.00 par value

  • Membership Fee……………………$1.00


        
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