Rates

Loan Rates Share Certificate Accounts Share and Share Draft Accounts 2017 Fee Schedule

Effective as of: 05/09/2015
Share and Share Draft Accounts
Account DescriptionMinimum BalanceDividend RateAPY*
Primary Shares$5.10%.10%
Christmas Shares$1.10% .10%
Secondary Shares$1.10%.10%
Money Market Shares
$500.10%.10%
$2,500.20%.20%
$25,000.25%.25%
$50,000.30%.30%
Real Estate Escrow$1N/AN/A
Share DraftN/AN/AN/A
Share Draft Plus$500.05%.05%
 
IRA, Roth IRA, ESA**
$100.20%.20%
$2,500.30%.30%
$25,000.35%.35%
$50,000.40%.40%
 
HSA
$500.20%.20%
$2,500.25%.25%
$25,000.30%.30%
 
* APY means Annual Percentage Yield
** ESA Coverdell Education Savings Account Dividend rates on shares (deposit accounts) are subject to change without notice. To confirm a rate shown, call 218-834-2266.
 
Nature of Certificates: Rates are shown above for two tiers based on the minimum balance requirement. For each account shown under the second tier, the share certificate may be Individual Retirement Account (IRA) funds.
 
Dividends: The Dividend Period for each account shown above is quarterly which begins on the business day you purchase the certificate. Dividends are calculated using the Daily Balance method which applies a daily periodic rate to the principal in the account each day. Dividends are compounded and credited quarterly. The Dividend Rate and Annual Percentage Yields are prospective rates and are current for the effective date shown above. Dividends are paid from current income and available earnings after required transfers to reserves. Rates and effective dates may change without notice as determined by the Board of Directors of Two Harbors Federal Credit Union (THFCU)
Minimum Balance Requirements (MBR): For each account shown under Tier one (1) above, the MBR is $500. For each account shown under Tier two (2) above, the MBR is $2,000 for IRA funds and $2,500 for non-IRA funds.
 
Jumbo Series Pricing (JSP): With a MBR of $50,000, $75,000, or $99,000, earn a Dividend Premium to the Dividend Rate shown under Tier two (2) above. This Dividend Premium is an additional .05%, .10%, or .15% respectively. JSP may not be combined with Relationship Pricing.
 
Relationship Pricing (RP): With a qualifying relationship, earn a Dividend Premium to the Dividend Rate shown in Tier one (1) or Tier two (2) above. This Dividend Premium may be an additional .05% or .10%. RP may not be combined with JSP.
 
Early Withdrawal Penalty: A penalty may be imposed if any of the principal is withdrawn before the maturity date.
 
Amount of Penalty: The penalty on an account with a term of one year or less is one (1) month’s dividend and on an account with a term of more than one year is three (3) months’ dividend. The penalty applies to the amount withdrawn, applies whether or not the dividends are earned, and could result in a reduction of the principal. Effective July 1, 2014 for a certificate issued after this date the penalty on an account with a term of one on an account with a term of more than one year is six (6) months’ dividend.
 
Exceptions to Early Withdrawal Penalties: The penalty does not apply to the following early withdrawals: 1) an account owner dies, 2) where the account is IRA funds and any portion is paid within seven (7) days after establishment or after the owner attains age 59 1/2 or becomes disabled.
 
Step-Up Option: On a certificate with an original term of 3, 4, or 5 years, a one-time option may be exercised to change the dividend rate without an interest penalty. If exercised, the new rate is the rate currently offered by THFCU at the time of the change for the same term as the original certificate. The rate change is effective immediately and applies for the remainder of the original term. There is a $15 processing fee on each certificate when this option is exercised.
 
Account Renewal: Upon maturity, your account will not automatically renew
 
Non Transferable/Non Assignable: For a non-IRA account, a certificate may not be pledged, transferred, or assigned to any party other than THFCU. For an IRA account, a certificate may not be pledged, transferred, or assigned and is not subject to any pledge of shares previously signed by an owner.
 
Dividends: The Dividend Period for each account shown in the table is quarterly and the Balance Method used to calculate dividends is the Daily Balance. Dividends are compounded quarterly and are credited to an account on the last day of each quarter. Dividend Rates and Annual Percentage Yields are retroactive rates. Dividends are paid from current income and available earnings after required transfers to reserves. Rates may change each quarter as determined by the Credit Union’s Board of Directors
 
Minimum Deposit Requirements: The Primary Shares account requires a minimum deposit of $5.00 to open the account. The Share Draft and the Share Draft Plus accounts require a minimum deposit of $25.00 to open the account.
 
Account Limitations: Except for the Share Draft account, transfers to another account or to third parties by preauthorized, automatic, or telephone transfers are limited to six (6) per month with no more than three (3) by check, debit card, or similar order
Hours & Location

Drive-Up:
Mon - Fri 7am to 6pm

Lobby Hours:
Mon & Fri 8am to 6pm
Tues, Wed, Thur 8am to 5pm

Located at:
801 11th Street
Two Harbors, MN 55616
218-834-2266


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