Share Draft – Checking

St. Jules Credit Union offers Share Draft (checking) Accounts with no minimum balance requirements, unlimited check writing privileges, and monthly statement mailings.     Members can also apply for an Overdraft Loan Protection (line of credit) and ATM Cards to be used in connection with the Share Draft (checking) Account.

NCUA Insurance:

Member Shares (savings) are federally insured to at least $100,000.00 and backed by the full faith and credit of the United States Government. 

Rate and Fees:

Please refer to the Share Rate tab to review the dividend rates & to the Fee Schedule tab to review the fees associated with this account.

Other Terms & Conditions:

*Truth-In-Savings Disclosures are available per request at any time, and are also provided when opening your account with St. Jules Credit Union.

Rate Information:  The Annual Percentage Yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period.  For all accounts, the Dividend Rate and Annual Percentage Yield may change monthly as determined by St. Jules Credit Union’s Board of Directors.  The Dividend Rates and Annual Percentage Yields are the prospective rates and yields that the credit union anticipates paying for the applicable dividend period. 

Nature of Dividends:  Dividends are paid from current income and available earnings following mandated transfers to reserves at the end of the dividend period.

Dividend Compounding and Crediting:  Share Draft Accounts (checking) dividends are compounded and credited monthly.  The Dividend Period is the period of time at the end of which an account earns dividend credit.  The dividend period for Share Draft Accounts (checking) begins on the first calendar day of each month and ends on the last calendar day of the month.  Account statements are then printed and mailed following the end of each month. 

Accrual of Dividends:  For Share Draft Accounts (checking), dividends will begin to accrue on non-cash deposits (e.g. checks) on the business day you make the deposit to your account.  For all accounts, if you close your account before accrued dividends are credited; accrued dividends will not be paid. 

Balance Information:  Share Draft Accounts (checking) require an initial deposit of $30.00 when opening the account.  Share Draft Accounts (checking) have no minimum average daily balance required to obtain the stated Annual Percentage Yield.   For all accounts using an Average Daily Balance method, dividends are calculated by applying a periodic rate to the average daily balance in the account for the period.  The average daily balance is determined by adding the full amount of principal in the account for each day of the period and dividing that figure by the number of days in the period.

Non-Transferable & Non-negotiable:  Accounts are non-transferable and non-negotiable; the funds in the account may not be pledged as a security obligation except obligations with St. Jules Credit Union.

To Help Our Members Fulfill Their Financial Needs
		1600 N Bertrand Drive Lafayette, LA 70506 (337)261-1151 Fax: (337) 261-1397