|
A Sub Share Account allows you to save for something specific, or separate your finances into separate Sub Shares on the same account – paying taxes, insurance, a new car, car repairs, vacation, or a new home, etc.
|
Minimum Opening Amount
|
No minimum requirement.
|
Minimum Balance
|
|
Service Charge
|
No monthly service charge.
|
Withdrawal/Transfers
|
No withdrawal fee. Official checks made payable to a third party cost $5.00. Limited to six Regulation D transfers per month. Sub-shares not eligible for ATM access and cannot be used for Overdraft Protection.
|
Balance to Earn Dividends
|
Any balance earns dividends.
|
Dividend Rates
|
Dividends are calculated on the daily balance and paid quarterly. No dividends will be paid if the account was closed during the quarter.
|
Statements
|
Statements are sent quarterly. If the member also has a Share Draft (Checking) account, Traditional or AltaAdvantage Money Market account or any loan then they are sent monthly. Members have the option to receive paper statements in the mail or electronic statements through AltaOne Online Banking.
|
Payroll Deduction & Direct Deposit
|
Members may have a distribution setup from a Direct Deposit on account. |