Truth in Savings Disclosure - Checking and Savings
Truth in Savings Disclosure for Share Savings, IRA, Roth, and Coverdell Savings, and Share Checking,
Dividend Rewards Checking, Start Up Checking and Savings, and HSA Checking Accounts
Effective Date: December 1, 2023
Throughout this Truth in Savings Disclosure, the words “you,” “your,” and “yours” mean each person who owns a Share Savings, IRA, Roth, and Coverdell Savings, and Share Checking, Dividend Rewards Checking, Start Up Checking and Savings with First Technology Federal Credit Union. The words “we,” “us,” or “Credit Union” mean First Technology Federal Credit Union.
Section I. Payment of Dividends
- Nature of Dividends: The frequency and conditions upon which dividends are paid on all accounts are determined by the Credit Union’s Board of Directors in accordance with the Federal Credit Union Act and relevant laws (including the Truthin- Savings Act and Regulations). Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period.
- Rate Information: For all dividend bearing accounts, the dividend rate and Annual Percentage Yield (“APY”) may change daily as determined by the Credit Union’s Board of Directors. Please refer to the Rate Sheet provided in addition to this Truth in Savings Disclosure for additional information, including the dividend rate and APY. You may also obtain current rate information by calling the Credit Union toll-free at 855.855.8805 or visiting our website.
- Minimum Balance Requirements: We list the minimum balance required to open an account on our Rate Sheet.
- Compounding and Crediting for All Accounts: For all dividend bearing accounts, dividends will be compounded monthly and will be credited monthly. For these accounts, the dividend period is monthly. For example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the ending date of a dividend period, and for this example is January 31. If you close any of your dividend earning accounts before dividends are credited you will not receive the accrued dividends.
- Fees and Charges: Please refer to the Fee Schedule/Sheet provided in addition to this Truth in Savings Disclosure for fees and charges which may be assessed against your account.
- Balance Computation Method: Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day.
- Accrual of Dividends: Dividends will begin to accrue on the business day you deposit cash and non-cash items (e.g., checks) to your account if deposited before the close of business.
- Share Requirements: You must complete payment of one share in your Membership Savings Account, in accordance with the Membership and Account Agreement, as a condition of your membership.
Section II. Terms and Conditions Applicable to all Savings Accounts
- Transaction Limitations: Withdrawals or transfers out of your Share Savings accounts are limited. On all Share Savings
accounts, we will allow you to make up to six (6) preauthorized, automatic, telephonic, audio response or online banking
transfers to another of your accounts or to the account of any other person or organization during each statement period.
- The date we use to determine the number of transactions is the date a transaction is posted to your account, rather than the date you initiate the transaction. If you exceed these limitations in any statement period, we can refuse or reverse the transfer, or close your account.
- Transactions that are not covered by these limitations include: (1) transfers from your account to pay a loan with us; (2) transfers to your other accounts with us or withdrawals (payments directly to you) from the account when such transfers or withdrawals are made by mail, messenger, ATM or in person; and/or (3) withdrawals made by telephone if a check is mailed directly to you.
Section III. Terms and Conditions Applicable to Dividend Rewards Checking Accounts
- Restriction: You are limited to one (1) Dividend Rewards Checking Account or one (1) First Tech Rewards Checking Account per primary account owner.
- Rate Information: The Dividend Rewards Checking Account is a tiered rate account. The dividend rate and corresponding APY will be either the qualified or non-qualified rate, as determined by the qualification requirements per monthly cycle (listed below). If qualifications are met, the dividend rate and APY specified for a tier will apply only to the portion of the account balance that is within the tier. The dividend rates and range of APY(s) may vary depending on account balance and are listed for each tier in our Rate Sheet.
- Failure to Qualify: If you do not meet the qualification requirements for a monthly cycle, you will earn the non-qualified rate and corresponding APY.
- Qualification Requirements Per Monthly Cycle: A monthly cycle is defined as the last day of the previous calendar month
through the penultimate day of the current calendar month. For example, a monthly cycle would start March 31 and end
April 29; the next monthly cycle would be April 30 through May 30. In order to qualify, you must meet all of the following
qualification requirements:
- Have twelve (12) debit card purchases posted to the account.
- Have one (1) direct deposit or ACH deposit/withdrawal.
- Enrollment in electronic statements and notices for the primary account owner.
The first monthly cycle will automatically meet all qualification requirements. For every monthly cycle thereafter, all qualification requirements must be completed and posted to your account prior to the last day of the calendar month. For example, the last day of March is March 31. At least twelve (12) debit card purchases must post to your account by March 30 for purposes of this example. Keep in mind that debit card purchases can take up to three (3) days to post and depend on merchant processing times.
- Rebates: For qualified accounts, ATM fees will be refunded for the monthly cycle in which the fee was charged.
Section IV. Terms and Conditions Applicable to Start Up Checking and Savings Accounts
- Restriction: You are limited to one (1) Start Up Checking Account and one (1) Start Up Savings Account per primary account owner.
- Eligibility: Primary account owner must be under the age of eighteen (18).
- Once the primary account owner of a Start Up Checking Account turns the age of eighteen (18), the account will automatically convert to a First Checking Plus Account.
- Once the primary account owner of a Start Up Savings Account turns the age of eighteen (18), the account will automatically convert to a Carefree Savings Account.
- Joint Ownership Requirement. A parent and/or guardian must maintain joint ownership on the Start Up Checking and Savings account(s). Membership is required and subject to approval.
Truth in Savings Disclosure - Premier Rewards Checking and Savings
Truth in Savings Disclosure for First Tech Premier Rewards Checking and Savings Accounts
Effective Date: October 10, 2023
Section I. Payment of Dividends
- Nature of Dividends: The frequency and conditions upon which dividends are paid on all accounts are in accordance with the Bylaws of this Credit Union, the Federal Credit Union Act, and relevant laws (including the Truth-in-Savings Act and Regulations). Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period.
- Rate Information: For all dividend bearing accounts, the dividend rate and Annual Percentage Yield (“APY”) may change daily as determined by the Credit Union’s Board of Directors. Please refer to the Rate Sheet provided in addition to this Truth in Savings Disclosure for additional information, including the dividend rate and APY. You may also obtain current rate information by calling the Credit Union or visiting our website.
- Minimum Opening Balance: We list the minimum balance required to open an account on our Rate Sheet.
- Compounding and Crediting for All Accounts: For all dividend bearing accounts, dividends will be compounded monthly and will be credited monthly. For these accounts, the dividend period is monthly. For example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the ending date of a dividend period, and for this example is January 31. If you close any of your dividend earning accounts before dividends are credited you will not receive the accrued dividends.
- Fees and Charges: Please refer to the Fee Schedule/Sheet provided in addition to this Truth in Savings Disclosure for fees and charges which may be assessed against your account.
- Balance Computation Method: Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day.
- Accrual of Dividends: Dividends will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account if deposited before the close of business.
- Bylaw Requirements: You must complete payment of one share in your Membership Savings Account, in accordance with the Membership and Account Agreement, as a condition of your membership.
Section II. Terms and Conditions Applicable to First Tech Premier Rewards Checking Accounts
- Restriction: As the primary account owner of the First Tech Premier Rewards Savings account, you may not also be the primary account owner on the following products: First Tech Rewards Savings, First Tech Rewards Checking, and/or Dividend Rewards Checking.
- Eligibility: Account must be a personal account, trust account, or fiduciary account. Business and HSA accounts are not eligible. Primary account owner must be a primary account owner on a Membership Savings account.
- Qualification Requirements: Primary account owner must have at least one (1) First Tech Premier Rewards Savings
account.
- Minimum Combined Share Balance: A minimum average daily balance of $250,000 must be maintained. This average daily balance is an accumulation of the balances in all share accounts on which you are the primary account owner. The average daily balance is calculated by adding the balance in the account(s) for each day of the dividend period and dividing that figure by the number of days in the dividend period.
- Failure to Qualify: If you do not meet the minimum combined share balance requirements for five (5) consecutive calendar months, your First Tech Premier Rewards Savings account(s) will be converted to the Instant Access Savings account.
- Rebates: For each completed calendar month in which the primary account owner has a First Tech Premier Rewards
Savings account, the following fees will be reimbursed to the account, up to an aggregate maximum of $50 per calendar
month. Any share account that has the same primary account owner as the First Tech Premier Rewards Savings account
will be eligible for inclusion in the rebate calculation, excluding Business and HSA accounts. Rebates will be posted within
5–7 business days after the end of each month.
- ATM Deposit Adjustment
- Non-First Tech/CO-OP ATM
- Check orders/re-order
- Foreign Check exchange
- Foreign currency
- International transactions / currency conversion
- Stop payments (regular and BillPay)
- Wires
- Express Delivery (excludes card rush items)
Fees not listed will be considered an exception rebate.
- Transaction Limitations: Withdrawals or transfers out of your Share Savings accounts are limited. On all Share Savings
accounts, we will allow you to make up to six (6) preauthorized, automatic, telephonic, audio response or online banking
transfers to another of your accounts or to the account of any other person or organization during each statement period.
- The date we use to determine the number of transactions is the date a transaction is posted to your account, rather than the date you initiate the transaction. If you exceed these limitations in any statement period, we can refuse or reverse the transfer, close your account, and charge a service fee as stated in the Fee Schedule/Sheet.
- Transactions that are not covered by these limitations include: (1) transfers from your account to pay a loan with us; (2) transfers to your other accounts with us or withdrawals (payments directly to you) from the account when such transfers or withdrawals are made by mail, messenger, ATM or in person; and/or (3) withdrawals made by telephone if a check is mailed directly to you.
Section III. Terms and Conditions Applicable to First Tech Premier Rewards Savings Accounts
- Eligibility: Account must be a personal account, trust account, or fiduciary account. Business and HSA accounts are not eligible. The First Tech Premier Rewards Checking account requires a corresponding First Tech Premier Rewards Savings account. The primary account owner of the First Tech Premier Rewards Checking account must be the same as that listed on the First Tech Premier Rewards Savings account.
- Failure to Qualify: If you do not meet the balance maintenance requirements stated above for five (5) consecutive calendar months, your First Tech Premier Rewards Checking account(s) will be converted to the First Checking Plus account.
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Truth in Savings Disclosure - Rewards Checking and Savings
Truth in Savings Disclosure for First Tech Rewards Checking and Savings Accounts
Effective Date: December 1, 2023
Throughout this Truth in Savings Disclosure, the words “you,” “your,” and “yours” mean each person who owns a First Tech Rewards Checking, and First Tech Rewards Savings Account with First Technology Federal Credit Union. The words “we,” “us,” or “Credit Union” mean First Technology Federal Credit Union.
Section I. Payment of Dividends
- Nature of Dividends: The frequency and conditions upon which dividends are paid on all accounts are determined by the Credit Union’s Board of Directors in accordance with the Federal Credit Union Act and relevant laws (including the Truthin- Savings Act and Regulations). Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period.
- Rate Information: For all dividend bearing accounts, the dividend rate and Annual Percentage Yield (“APY”) may change daily as determined by the Credit Union’s Board of Directors. Please refer to the Rate Sheet provided in addition to this Truth in Savings Disclosure for additional information, including the dividend rate and APY. You may also obtain current rate information by calling the Credit Union toll-free at 855.855.8805 or visiting our website.
- Minimum Balance Requirements: We list the minimum balance required to open an account on our Rate Sheet.
- Compounding and Crediting for All Accounts: For all dividend bearing accounts, dividends will be compounded monthly and will be credited monthly. For these accounts, the dividend period is monthly. For example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the ending date of a dividend period, and for this example is January 31. If you close any of your dividend earning accounts before dividends are credited you will not receive the accrued dividends.
- Fees and Charges: Please refer to the Fee Schedule/Sheet provided in addition to this Truth in Savings Disclosure for fees and charges which may be assessed against your account.
- Balance Computation Method: Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day.
- Accrual of Dividends: Dividends will begin to accrue on the business day you deposit cash and non-cash items (e.g., checks) to your account if deposited before the close of business.
- Share Requirement: You must complete payment of one share in your Membership Savings Account, in accordance with the Membership and Account Agreement, as a condition of your membership.
Section II. Terms and Conditions Applicable to First Tech Rewards Checking Accounts
- Restriction: You are limited to one (1) First Tech Rewards Checking Account or one (1) Dividend Rewards Checking Account per primary account owner.
- Eligibility: Account must be a personal account. Trust, Business, and Organization accounts are not eligible.
- Rate Information: The First Tech Rewards Checking Account is a tiered rate account. The dividend rate and corresponding annual percentage yield (APY) will be either the qualified or non-qualified rate, as determined by the qualification requirements per monthly cycle (listed below). If qualifications are met, the dividend rate and APY specified for a tier will apply only to the portion of the account balance that is within the tier. The dividend rates and range of APY(s) may vary depending on account balance and are listed for each tier in our Rate Sheet.
- Failure to Qualify: If you don’t meet the qualification requirements for a monthly cycle, you’ll earn the non-qualified rate and corresponding APY.
- Qualification Requirements Per Monthly Cycle: A monthly cycle is defined as the last day of the previous calendar month
through the penultimate day of the current calendar month. For example, a monthly cycle would start March 31 and end
April 29; the next monthly cycle would be April 30 through May 30. In order to qualify, you must meet all of the following
qualification requirements:
- Have a combined total of at least twenty (20) qualifying transactions with an aggregate spend of at least $500 per
month posted to the applicable accounts. Qualifying transactions include:
- Posted debit card purchases to the First Tech Rewards Checking account.
- Posted credit card purchases on a First Tech credit card account. Credit card purchases must be made on a First Tech credit card account with the same primary account owner as the First Tech Rewards Checking account.
- Have ACH deposits and/or withdrawals totaling at least $1,000 per cycle (either multiple aggregate ACHs equal to $1,000 or one $1,000 ACH) to the First Tech Rewards Checking account.
- Enrollment in electronic statements and notices for the primary account owner.
The first monthly cycle will automatically meet all qualification requirements. For every monthly cycle thereafter, all qualification requirements must be completed and posted to your account prior to the last day of the calendar month. For example, the last day of March is March 31. At least twenty (20) debit and/or credit card purchases must post to your account(s) by March 30 for purposes of this example. Keep in mind that debit and/or credit card purchases can take several days to post and depend on merchant processing times.
- Have a combined total of at least twenty (20) qualifying transactions with an aggregate spend of at least $500 per
month posted to the applicable accounts. Qualifying transactions include:
- Rebates: The following rebates will be credited to the First Tech Rewards Checking account if the qualification
requirements are met for the monthly cycle in which the transaction posted. The offered rebates may change at any time,
as determined by the Credit Union’s Board of Directors. Rebates will be posted within three(3) business days after the end
of the calendar month.
- Reimbursement of any out-of-network U.S. ATM fees, up to a maximum of $15 per month.
- 0.25% cash back on minimum scheduled payment amount made from another First Tech account to your First Tech consumer loan(s) and/or HELOC, up to a maximum of $15 per month. Primary account owner of the First Tech Rewards Checking account must be listed as primary borrower on the First Tech consumer loan(s) or home equity line of credit (HELOC). Regular payments to credit cards, closed-end mortgages, and commercial loan products are not eligible for this product offering and do not qualify for the above-mentioned cash back rebates. Prepayments, late payments, and payoffs not included. Loans must be in good standing (active, current, not delinquent).
- 0.50% cash back on all posted credit card purchases made on your First Tech credit card account, up to a maximum of $15 per month. Credit card purchases must be made on a First Tech credit card account with the same primary account owner as the First Tech Rewards Checking account.
- Reimbursement of monthly online streaming subscription services charged to your First Tech credit card account, up
to a maximum of $10 per month.
- Merchant category codes that qualify for the reimbursement of online streaming subscriptions include: 4899 - Cable, Satellite, and Other Pay Television and Radio Services; 5735 - Record Shops; 5815 - Digital Goods- Audiovisual Media Including Books, Movies, and Music; 5968 - Direct Marketing-Continuity/Subscription Merchants; and 7841 - Video Entertainment Rental Stores.
- First Tech does not have the ability to control how a retailer chooses to classify their business and therefore reserves the right to determine which purchases qualify. Merchants who accept Mastercard® credit cards are assigned a merchant code which is determined by the merchant or its processor in accordance with Mastercard® procedures based on the kinds of products and services they primarily sell. First Tech groups similar merchant codes into categories for purposes of making offers to you. Please note that First Tech makes every effort to include all relevant merchant codes in our categories. However, even though a merchant or some of the items that it sells may appear to fit within a category, the merchant may not have a merchant code in that category.
- Credit card purchases must be made on a First Tech credit card account with the same primary account owner as the First Tech Rewards Checking account.
- Opening this checking account does not guarantee approvals on loan accounts. Lending qualifications still apply.
Section III. Terms and Conditions Applicable to First Tech Rewards Savings Accounts
- Restriction: You are limited to one (1) First Tech Rewards Savings account per primary account owner.
- Eligibility: Account must be a personal account. Trust, Business, and Organization accounts are not eligible. The First Tech Rewards Savings account requires a corresponding First Tech Rewards Checking account. The primary account owner of the First Tech Rewards Savings account must be the same as that listed on the First Tech Rewards Checking account.
- Rate Information: The First Tech Rewards Savings is a tiered rate account. The dividend rate and corresponding annual percentage yield (APY) will be either the qualified or non-qualified rate as determined by the First Tech Rewards Checking qualification requirements per monthly cycle (listed above). If the qualifications are met, the First Tech Rewards Savings dividend rate and APY specified for a tier will apply only to the portion of the account balance that is within that tier. The dividend rates and range of APY(s) may vary depending on account balance and are listed for each tier in our Rate Sheet.
- Failure to Qualify: If you don’t meet the qualification requirements for a monthly cycle, you’ll earn the non-qualified rate and corresponding APY
- Transaction Limitations: Withdrawals or transfers out of your Share Savings accounts are limited. On all Share Savings
accounts, we will allow you to make up to six (6) preauthorized, automatic, telephonic, audio response or online banking
transfers to another of your accounts or to the account of any other person or organization during each statement period.
- The date we use to determine the number of transactions is the date a transaction is posted to your account, rather than the date you initiate the transaction. If you exceed these limitations in any statement period, we can refuse or reverse the transfer, or close your account.
- Transactions that are not covered by these limitations include: (1) transfers from your account to pay a loan with us; (2) transfers to your other accounts with us or withdrawals (payments directly to you) from the account when such transfers or withdrawals are made by mail, messenger, ATM or in person; and/or (3) withdrawals made by telephone if a check is mailed directly to you.
Truth in Savings Disclosure - Share Certificates
Truth in Savings Disclosure for Standard Share, IRA, Roth IRA, and Coverdell Share Certificate
Accounts
Effective Date: December 1, 2023
Throughout this Truth in Savings Disclosure, the words “you,” “your,” and “yours” mean each person who owns a Standard Share Savings, IRA, Roth IRA, and Coverdell Share Certificate Accounts with First Technology Federal Credit Union. The words “we,” “us,” or “Credit Union” mean First Technology Federal Credit Union.
Section I. Payment of Dividends
Unless otherwise specified for a specific type of Share Certificate Account below, these general terms and conditions shall apply to all Share Certificate Accounts. All of our dividend-bearing term share accounts are referred to as “Share Certificate Accounts”.
- Certificate Account Receipt: This Truth in Savings Disclosure supplements your Account Application or Certificate Account Receipt (“Certificate Receipt”) which discloses specific terms of your Share Certificate Account.
- Nature of Dividends: The frequency and conditions upon which dividends are paid on all accounts are determined by the Credit Union’s Board of Directors in accordance with the Federal Credit Union Act and relevant laws (including the Truthin- Savings Act and Regulations). Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period.
- Rate Information: Share Certificate Accounts are generally fixed-rate accounts (unless stated otherwise, such as our Bump Up Share Certificates) and are non-negotiable and non-transferable. You will be paid the rate and yield until maturity. We may change dividend rates and annual percentage yields (APYs) offered for new Share Certificate Accounts at any time as determined by the Credit Union’s Board of Directors. The dividend rate, APY, term, and Maturity Date for your Share Certificate Account will be set forth in the Certificate Receipt we will provide to you when you open such account. You may also obtain current rate information by calling the Credit Union toll-free at 855.855.8805 or visiting our website.
- Compounding and Crediting for All Accounts: Dividends will be compounded monthly and will be credited on the last day of each month and/or upon the Maturity Date. If the Share Certificate Account is closed before dividends are credited, dividends accrued through the prior business day will be paid, subject to any early withdrawal penalty.
- Balance Computation Method: Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day.
- Accrual of Dividends: Dividends will begin to accrue on the business day you deposit cash and non-cash items (e.g., checks) to your account if deposited before the close of business.
- Minimum Balance and Deposit Requirements: The minimum balance required to open and maintain a Share Certificate Account is set forth on the Rate Sheet. You must maintain this minimum balance in your Share Certificate Account each day to obtain the disclosed APY. The Share Certificate Account may be closed if the balance falls below the minimum balance required set forth on the Rate Sheet, if applicable. Although credited dividends may be withdrawn or transferred at any time without the assessment of an early withdrawal penalty, the disclosed APY assumes that dividends will remain in the Share Certificate Account until the Maturity Date. An early withdrawal of dividends will reduce earnings.
Section II. Terms and Conditions applicable to all Share Certificate Accounts
- Transaction Limitations: Once your Share Certificate Account is established, you generally may not make deposits into the account until the Maturity Date except during the applicable grace period and as permitted for Bump Up Share Certificates and IRA/Roth IRA/Coverdell Share Certificates. All withdrawals of principal before the Maturity Date are subject to early withdrawal penalties, except during the grace period described herein. We also reserve the right to require members intending to make a withdrawal of principal from any Share Certificate Account to give written notice of such intent not less than sixty (60) days before the withdrawal.
- Early Withdrawal Penalties: The Share Certificate Account will mature on the Maturity Date set forth in the Certificate
Receipt. If a withdrawal of principal is made prior to the Maturity Date, the Credit Union will impose a penalty on the
amount withdrawn that is subject to penalty. Penalties may reduce the principal.
- In accordance with Federal Reserve Board Regulation D, the Credit Union may charge an early withdrawal penalty of seven (7) days simple dividends on amounts withdrawn within the first six (6) days after account opening or within six (6) days of following the last partial withdrawal.
- If the Share Certificate Account has a term to maturity less than one (1) year, we do not charge an early withdrawal penalty unless you make a withdrawal within the first six (6) days after account opening or within six (6) days following the last partial withdrawal. In those circumstances, we may charge an early withdrawal penalty of seven (7) days simple dividends in accordance with the Federal Reserve Board’s Regulation D, whether or not earned.
- If the Share Certificate Account has a term to maturity of between one (1) year and two (2) years, the penalty imposed will equal 180 days of simple dividends, whether or not earned.
- If the Share Certificate Account has a term to maturity greater than two (2) years, the penalty will equal 270 days simple dividends, whether or not earned.
- Exceptions to Early Withdrawal Penalties: Early withdrawal penalties will not apply to:
- Withdrawals of credited dividends.
- Withdrawals of certificate funds during the ten (10) day grace period following the automatic renewal of the certificate.
- At our option, withdrawals made subsequent to the death of an account holder or date of a court order or order of another body of competent jurisdiction declaring an account owner legally incompetent.
- Withdrawal made to effect a required distribution of funds from accounts which are part of a pension plan that qualifies or qualified for specific tax treatment under Section 401 or from accounts qualifying under Section 408 of the Internal Revenue Service code.
- Maturity and Renewal: Except otherwise stated in your Certificate Receipt, your Share Certificate Account will automatically renew upon the Maturity Date and on the Maturity Date of any renewal term unless you prevent renewal by withdrawing all of the funds in your Share Certificate Account. The renewal term will be equal to or closest to that of the initial term and at the dividend rate and APY in effect at that time for such a term. You may instruct us in person or in writing prior to the expiration of a ten (10) day grace period following maturity to renew or close the Share Certificate Account on a date of your choosing within the grace period. We can prevent renewal by providing you notice at least thirty (30) days before maturity. Funds will continue to earn dividends but at the rate of a new Share Certificate Account for the same term in effect on the Maturity Date until such date of closure or renewal. If automatically renewed, all funds in a Share Certificate Account as of the renewal date are considered to be principal. If the Share Certificate is no longer offered at the time of renewal the funds will be transferred to your Membership Share Savings Account.
- Notices: We will send you a written maturity notice at least thirty (30) days in advance of the Maturity Date of your Share Certificate Account.
- Unclaimed Property: Certificate accounts subject to unclaimed property laws may not be automatically renewed and may be surrendered to the applicable state in accordance with state laws.
- Lien on Shares: Subject to our lending policies, amounts on deposit in Share Certificate Accounts may be pledged as collateral security to secure your loans with us.
- Change in Terms: We reserve the right to change the terms and conditions of Certificate Accounts at any time without notice to you, unless notice is required under applicable law.
Section III. Additional Terms and Conditions Applicable to Specific Share Certificate Accounts
- IRA/Roth IRA/Coverdell Share Certificates: You may make unlimited additions up to your annual contribution limit into these accounts. There are no limitations on the frequency or timing of additions with the exception of the thirteen (13) month Bump Up Share Certificate (see details for Bump Up Share Certificates below).
- Bump Up Share Certificates: If your account has the Bump Up feature, we list the dividend rate and APY on your
Certificate Receipt for your Bump Up Share Certificate account. Your Maturity Date will remain the same as stated on
your Certificate Receipt.
- You have the option within each twelve (12) months of the current term for terms equaling or exceeding twenty-four (24) months, or once per term for Bump Up products with a term less than twenty-four (24) months, of exchanging the dividend rate for a new dividend rate that is currently offered on the same term share certificates at no cost to you.
- You have the option within each twelve (12) months of the current term for terms equaling or exceeding twenty-four (24) months, or once per term for Bump Up products with a term less than twenty-four (24) months, to make one (1) additional deposit. The maximum amount you can deposit is up to the original amount of the share certificate at the start of the current term.
Fee Schedule/Sheet
Effective date: December 1, 2023
We may assess the following fees against your account.
Please review the Membership and Account Agreement (firsttechfed.com/MAA), account documents, and FAQ page (www.firsttechfed.com/help/faqs/overdraft-fees) for additional information regarding fees, transaction limitations, and other account restrictions that may apply.
Our fees are categorized as follows:
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Card Services
Applicable fees for ATM and Debit, and Credit Cards. Credit Card may have additional fees which could vary, see Credit Card section of the Rates and Fees, and your account documents and disclosure for more details.
Note: Each individual action at an ATM not owned by First Tech may be considered a separate transaction and a separate transaction fee may be charged by the ATM operator or any network used for each action even if you only enter your PIN once.
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Name or Description |
Fee Amount |
Important Information |
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ATM Transactions at First Tech Owned and Co-op Network ATMs |
No Charge |
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ATM Cash Withdrawal or Inquiry at Non-First Tech Owned and non-Co-op Network ATMs |
$2.00 |
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ATM Deposit Adjustment |
$5.00 |
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Card PIN Rush |
$20.00 |
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Card Rush |
$20.00 |
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International Transaction/Currency Conversion Fee |
1% of Purchase Amount |
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Miscellaneous Transactions and Services
Applicable fees for miscellaneous services and transactions.
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Name or Description |
Fee Amount |
Important Information |
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Account Activity Printout |
$1.00 |
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Account Balancing Assistance |
$25.00 per hour |
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Account Research |
$25.00 per hour |
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Cashier’s Check |
No Charge |
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Check Copy |
$2.00 |
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Check Orders and Re-orders |
Varies |
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Deposit Verification |
No Charge |
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Express Delivery — Overnight |
$20.00 |
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Foreign Check Exchange Fee |
$15.00 |
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Foreign Currency Fee |
$15.00 |
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Inactivity Fee |
Up to $5/month |
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Legal Actions, Garnishments, Executions or Levies |
$50.00 |
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Specialized Letters |
$25.00 |
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Statement Copy |
$3.00 |
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Stop Payments |
$25.00 |
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Temporary Checks |
No Charge |
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Digital Banking Services
Applicable fees for Digital Banking services using your desktop computer or mobile device. Restrictions apply. Please refer to the Disclosures (firsttechfed.com/Disclosures) and Digital Banking (firsttechfed.com/DigitalBanking) pages located at firsttechfed.com.
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Name or Description |
Fee Amount |
Important Information |
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Digital Banking |
No Charge |
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Zelle® |
No Charge |
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Bill Pay |
No Charge |
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Bill Pay — Expedited Payment |
$30.00 |
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Bill Pay — Stop Payments |
$25.00 |
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1 Must have a bank account in the U.S. to use Zelle.
Zelle and the Zelle-related marks are wholly owned by Early Warning Services, LLC and are used herein under license.
Overdraft and Return ACH Origination Fees
Applicable fees for Overdraft and Return OCH Origination.
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Name or Description |
Fee Amount |
Important Information |
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Overdraft Protection Transfer |
No Charge |
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Overdraft Fee1 |
$33.00 |
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Return ACH Origination Fee |
$33.00 |
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1 See the Overdraft Policy Disclosure section of the Membership and Account Agreement (firsttechfed.com/MAA) and Overdraft Fee FAQ (firsttechfed.com/help/faqs/overdraft-fees) on our website (firsttechfed.com) for additional information and examples of when and how Overdraft Fees are assessed, and tips on how to avoid these fees.
Safe Deposit Box
Applicable fees for safe deposit boxes.
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Name or Description |
Fee Amount |
Important Information |
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3x5 Annual Rental |
$23.00 |
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3x10 Annual Rental |
$45.00 |
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5x5 Annual Rental |
$46.00 |
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5x10 Annual Rental |
$58.00 |
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10x10 Annual Rental |
$97.00 |
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Key Deposit |
$16.00 |
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Box Drilling |
$200.00 |
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Wire Transfers
Applicable fees per wire. Utilizing other low or no cost services, such as Digital Banking Bill Pay, Person to Person transfers, ACH transfers, and Digital Banking transfers may help you avoid or reduce the number of wire fees.
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Name or Description |
Fee Amount |
Important Information |
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Incoming — All |
$5.00 |
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Outgoing — Domestic |
$20.00 |
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Outgoing — Foreign |
$50.00 |
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Business Accounts
Additional fees for business accounts.
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Name or Description |
Fee Amount |
Important Information |
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Simple Business Checking |
$6.00 |
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Business Instant Access |
$10.00 |
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Business Dividend Checking |
$15.00 |
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Overdraft Transfer Fee |
$4.00 |
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Mortgage Servicing Loan Fees
Applicable Servicing fees for Mortgage Real Estate loans. Individual loan fees may vary. See your Mortgage loan documents for more details.
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Name or Description |
Fee Amount |
Important Information |
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Flexity Line of Credit — Annual Fee |
Varies |
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Flexity Line of Credit — Masterline Fixed Lock Fee |
$25.00 |
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Flexity Line of Credit — Masterline Fixed Unlock Lock Fee |
$125.00 |
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Flexity Line of Credit — Repayment of Third-Party Closing Costs |
Varies |
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Late Payment Fee |
Varies |
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Partial Release/Lot Line Fee |
$250.00 |
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Payoff Quote Fee |
$30.00 ($25.00 NJ Properties) |
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Recast/Reamortize Fee |
$100.00 |
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Subordination Fee |
$125.00 |
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Verification of Mortgage Fee |
$25.00 |
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Reconveyance Fee |
Varies by State |
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Consumer Loan Fees
Listed below are common fees which may be applicable to Consumer loans. See your loan documents and disclosure for more information about fees specific to your loan product.
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Name or Description |
Fee Amount |
Important Information |
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Late Charge |
Varies |
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Returned Check Payment Fee |
$28.00 |
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Commercial Loan Fees
Listed below are common fees which may be applicable to Commercial loans. See your loan documents for more information about fees specific to your loan product.
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Name or Description |
Fee Amount |
Important Information |
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Lien Release Fee |
Varies by State |
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Late Payment Fee |
Varies |
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Insured by NCUA