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Truth-In-Savings Account Disclosures:

Except as specifically described, the following disclosures apply to all accounts.

  1. Rate Information: The Dividend Rate and Annual Percentage Yield (APY) may change every dividend period. We may change the dividend rate for your account as determined by the credit union Board of Directors or Management. The Annual Percentage Yield is a percentage rate that reflects the total amount of interest to be paid on an account based on the interest rate and frequency of compounding for an annual period. For Certificate of Deposits (Share Certificates) accounts, the Interest Rate and APY are fixed and will be in effect for the term of the account. The APY is based on an assumption that the interest will be credited to the certificate monthly.
  2. Compounding and Crediting: The compounding and crediting of interest applicable to each account is set forth in the Rate Schedule. At the member's choice, dividends can be transferred to another account, or check mailed or compounded back into the account. If you close your account prior to crediting, accrued interest will not be paid.
  3. Dividend Period: Savings accounts the dividend period is quarterly. All other accounts the dividend period is monthly.
  4. Minimum Balance Information: The minimum balance requirements applicable to each account are set forth in the rate schedules.
  5. Daily Balance Computation Method: Dividends (interest) are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day.
  6. Accrual of Dividends on non-cash deposits: Dividends will begin to accrue on the business day you place non cash items (example, checks) to your account.
  7. Transaction limitations:
    • For Savings accounts you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized or automatic transfer or telephonic order or instruction. No more than three of the six transfers may be made by check, draft, debit card or similar order to a third party. If you exceed the transfer limitations set forth in any statement period, your account may be closed by the credit union.
    • For Certificates of Deposit (Share Certificates) you may not make additions into the account until the maturity date stated on the account. You may make withdrawals of principal or dividends credited to your certificate before maturity, subject to an early withdrawal penalty.
    • For Checking Accounts no transaction limitations apply unless otherwise stated in the Common Features section.
  8. Par Value of a Share: The par value of a share in the credit union is $5.00.


Pantex Federal Credit Union complies with section 326 of the USA PATRIOT Act. Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account such as name, address, date of birth and taxpayer identification. We may ask to see your driver’s license or other identifying documents.

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