All We Florida Financial members start their membership with a savings (also called share) account. In addition to helping you save, this account entitles you, as a member and part owner, to share in the dividends and benefits the Credit Union offers. Learn more about credit union membership.
|Regular Savings||Youth Savings |
|Club Account1 |
|Minimum Opening Balance||$5.00||$5.00||$0.00|
|Minimum Balance to Avoid a $5 Monthly Service Fee||$200.00||None, until age 19 (26 for college), then $200.00.||$0.00|
|Minimum Balance to Earn the Stated APY2||$0.01||$0.01||$0.01|
|Balance Computation Method||Average Daily Balance||Average Daily Balance||Average Daily Balance|
|Account Limitations||None||None||Holiday - see below|
|Earns Dividend or Interest (Earnings)||Dividend||Dividend||Dividend|
|Rates & APYs||Rates||Rates||Rates|
|Frequency of Compounding||Monthly||Monthly||Monthly|
|Frequency of Crediting||Monthly||Monthly||Monthly|
|1 Members must open a Regular Savings, Youth Savings or College Savings prior to opening a Club Account. |
2 APY = Annual Percentage Yield
Rate Information: The Annual Percentage Yield (APY) is a percentage rate that reflects the total amount of dividends or earnings to be paid on an account based on the rate and frequency of compounding for an annual period. For Savings Products, the dividend rate and APY may change monthly as determined by the Credit Union's Board of Directors.
Nature of Dividends: Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period.
Compounding and Crediting:The compounding and crediting of dividends to each account type are set forth in this schedule. The dividend period is the period at the end of which an account earns dividend credit. Generally, the period begins on the first calendar day of each month and ends on the last calendar day of the same month.
Accrual: For Savings Products, dividends will begin to accrue on non-cash deposits (e.g. checks) on the business day you make the deposit to your account. If you close your account before accrued earnings are credited, accrued earnings will not be paid.
Balance Information: The par value of a savings share in the credit union is $5. The minimum balance requirements applicable to each account type are set forth in this schedule. For Savings Products, there is a minimum average daily balance required to obtain the stated APY for the dividend period. If the minimum average daily balance is not met, you will not earn the stated APY.
Account Limitations: For a Holiday Club account, the entire balance will be transferred to your savings account on or after October 31st and the account will remain open.