Savings accountsStandard savings
Dividend rate / Annual percentage yield0.15% / 0.15%
Dividends compounded / creditedQuarterly / Quarterly
Dividend periodQuarterly
Minimum opening depositNone
Minimum required balance to earn stated APYNone
Balance methodDaily balance
Account limitationsSee #6 below
First5 savingsunder $500.01$500.01 and above
Dividend rate / Annual percentage yield7.00% / 7.19%0.25% / 0.25%
Dividends compounded / creditedQuarterly / Quarterly
Dividend periodQuarterly
Minimum opening depositNone
Minimum required balance to earn stated APYNone$500.01
Balance methodDaily balance
Account limitationsSee #6 below
Fees Applicable to All Accounts
Inactive Account (for members 18 and over) $2.00 per account (monthly)
Cashiers Check for Member (not using telephone banking or STCU's online banking) $3.00 per item
Incorrect Address Fee $5.00 per month
Garnishment Processing Fee $75.00 unless limited by state law
Account Research
Research Fees $25 per hour with $5 minimum
Rush Requests (next day, 10 items maximum) Research fee + an additional $25
Overdraft Fees
Transfer from Other Deposit Account None
Cash Advance Fee (transfer from credit card) Either $5.00 or 3% of each cash advance, whichever is greater
NSF Item Paid Fee (created by check, ACH, and debit card transactions) $29.00 per item
NSF Item Returned Fee $29.00 per presentment
Overdraft Fee (Privilege Pay) $29.00 ($174 daily limit for overdraft fees, in addition to NSF fees)
Savings Account Fees
Monthly Service Charge None
Stop Payment Fee $25.00 per item
Excess Item Fee $5 each, first 3 items; $15 for each additional item

 

Truth-in-Savings Disclosures

Except as specifically described, the following disclosures apply to all of the accounts named above.

  1. Rate information. The Dividend Rate and Annual Percentage Yield (APY) on your accounts are set forth above. For dividend-bearing accounts, the Dividend Rate and Annual Percentage Yield may change quarterly for Standard savings and First5 savings accounts as determined by the Board of Directors. The First5 savings account is a tiered-rate account. The Dividend Rate and Annual Percentage Yield will be applied to the account balance within the applicable deposit tiers.
  2. Nature of Dividends. Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period. The Dividend Rate and Annual Percentage Yield are the prospective rates and yields that STCU anticipates paying for the applicable dividend period.
  3. Compounding and Crediting. Dividends will be compounded and credited as set forth above. The Dividend Period for each account is set forth above. 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. Dividends will begin to accrue on both cash and non-cash deposits (e.g. checks) on the business day you make the deposit to your account. For Standard savings and First5 savings accounts, if you close your account before accrued dividends are credited, accrued dividends will not be paid. If you convert your account to a similar product before accrued dividends are credited, accrued dividends will be paid.
  5. Balance Information. The minimum balance required to open each account is set forth above. For all dividend-bearing accounts, dividends are calculated by the daily balance method, which applies a daily periodic rate to the principal in the account each day.
  6. Account Limitations. Transaction limitations apply to the Standard savings and First5 savings accounts, as follows: No more than six (6) pre-authorized, automatic, or telephone transfers may be made from these accounts to another account of yours or to a third party in any calendar month. If you exceed these limitations, your account may be subject to a fee. In addition, only one First5 savings account is allowed per person.
This credit union is federally insured by the National Credit Union Administration.

The rates, fees, and charges shown are effective Wednesday, July 24, 2024.

Spokane Teachers Credit Union may offer other rates for these accounts from time to time. For the most current rates available, please call (509) 326-1954 or toll-free at (800) 858-3750.