Fee Schedule

Account Descriptions & Fee Schedule

Effective January 1, 2012

The Winner’s Circle is designed to provide you with increasing levels of rewards based on your overall combined deposit and loan balances.

Savings Accounts[1]

Share & Club Accounts

A minimum balance of $25 ($5 if 18 yrs old or younger) is required to open and maintain a share account. Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day. During any statement period, you may not make more than six withdrawals or transfers to another TVFCU 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 (if applicable) or similar order to a third party.

Money Market Accounts

Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day. There is a $2,500 minimum balance requirement and $10 monthly service charge if balance falls below the minimum. During any statement period, you may not make more than six withdrawals or transfers to another TVFCU 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 (if applicable) or similar order to a third party. There will be a $3.00 fee for each transaction exceeding these limitations.

Christmas Club

Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day. A minimum opening deposit of $5 is required for this account. As of September 30 each year, your funds will be transferred to your share account. There is a penalty for early withdrawal.

Share Certificate Accounts

All rates subject to prevailing rates at time of issuance. Penalty for early withdrawal. See “Rates” for current terms and rates.

Individual Retirement Accounts

A minimum opening deposit of $25 is required for the variable account. But if the account is opened with a payroll deduction allotment or transfer from another institution, no minimum opening deposit is required. A $25 penalty will be charged, if the IRA is closed within the first year of opening the IRA. All standard IRA rules and regulations apply. Funds can earn a Variable Rate which is based on current market conditions or be invested in Credit Union certificates at prevailing rates. See “Rates” for current certificate rates. Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day.

Health Savings Accounts

A minimum opening deposit of $25 is required. If the account is opened with direct deposit, a payroll deduction allotment, or transfer from another institution, then no minimum opening deposit is required. This account has a $3.00 monthly service charge. A $25 penalty will be charged if the HSA is closed within the first year of opening the HSA. All standard HSA rules and regulations apply. Check writing is available. See “Rates” for current HSA rate.

Freedom Funds Accounts

There is an annual fee of $45 associated with this account for all Winner’s Circle levels. If funds are withdrawn from this account you will be restricted from receiving a Freedom Fund Loan for a period of 90 days.

Direct Deposit/Payroll Deduction

Have all or part of your paycheck deposited to your Credit Union accounts. Forms are available at the Credit Union or your company.

Share Draft (Checking) Accounts[1]

(These accounts pay monthly dividends where applicable)

No Frills Checking

A minimum opening deposit of $50 is required for this account. No minimum balance requirement, no monthly service charge. No dividends will be earned on this account. Students age 12 to 15 must have a parent or guardian sign as joint owner. Students age 16 and over need not have a joint owner, if they can provide proof of full or part-time employment.

Seniors Choice Checking

For members age 50 and over. A minimum opening deposit of $100 is required for this account. Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day, $100 minimum balance requirement, and a $4 monthly service charge if balance falls below the minimum. Includes free standard checks (member pays shipping), accidental death and dismemberment insurance, free standard American Express Travelers Checks, free Money Orders / Cashiers Checks, and free Online24 Internet access to your TVFCU accounts.

Rewards Checking

A minimum opening deposit of $50 is required for this account. Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day, no minimum balance requirement, and a monthly service charge based on membership level. Includes free standard checks (member pays shipping), accidental death and dismemberment insurance, free check cashing, free Online24 Internet access to your TVFCU accounts, and other discounts/benefits listed below by reward level in The Winner’s Circle:

The Winner’s Circle Levels: Star [2] Ribbon Medallion Trophy [3]
Combined Average Daily Deposit & Loan Balances [4]: Less than $5,000 $5,000 to $9,999 $10,000 to $24,999 $25,000 or Greater & Checking
Monthly Service Charge $8.00 $6.00 $4.00 Free
Standard (one signature) Travelers Checks $1.00 Free Free Free
Money Orders / Cashiers Checks $4.00 Free Free Free
E-Services – Online24 Bill Pay (Internet Bill Paying, per month) Free Free Free Free

Checking Account Related Services & Fees[1] (Checking Account Required)

ATM/VISA Debit Cards – Tennessee Valley Automated Teller Machines are available 24 hours a day, 7 days a week. You can access your account FREE at any TVFCU ATM with a Tennessee Valley VISA Debit card or Tennessee Valley ATM card. You can also use any CO-OP, ALLPOINT, ACCEL/EXCHANGE, STAR, or PLUS Network ATM to make withdrawals, transfers and inquiries on your TVFCU account. There is a charge for transactions on ATMs other than Tennessee Valley. Other financial institutions may also charge a fee for the use of their machines.

The Winner’s Circle Levels: Star [2] Ribbon Medallion Trophy [3]
Combined Average Daily Deposit & Loan Balances [4]: Less than $5,000 $5,000 to $9,999 $10,000 to $24,999 $25,000 or Greater & Checking
Foreign ATM Transactions (withdrawal, transfer) $1.00 $1.00 $1.00 Free
Replacement ATM Card (Tennessee Valley ATM Card) $2.00 $2.00 Free Free
Replacement Debit Card (Tennessee Valley VISA Debit Card) $15.00 $10.00 $10.00 Free
Negative Balance (First Choice VISA Card – Debit Transaction) $34.00 $29.00 $24.00 $19.00
Copies of Visa Debit Card Receipts $10.00 $10.00 $10.00 Free
Counter/Temporary/Starter Checks (4 checks per page) $1.00 $1.00 Free Free
Share Overdraft Protection (per Transfer to Checking) – A fee will be charged if the Credit Union must transfer funds from
savings to checking to cover an overdraft from check, debit, POS, ATM, etc. If a member requests the transfer prior to draft
clearing, no charge will be made.
$5.00 $3.00 $1.00 Free
NSF (per each returned item) – (Checks, Automatic Transfers [ie. utilities, insurance etc.], or ACHs) – A fee
will be charged for each returned item due to insufficient funds. Excessive NSF charges may result in the share draft account
being closed.
$34.00 $29.00 $24.00 $19.00
Courtesy Pay Service (Automatically enrolled) – (per paid item, Check, or ACH, instead of returning as NSF to payee) $34.00 $29.00 $24.00 $19.00
Courtesy Pay Service (Opt-in required) – (ATM, POS, or Debit, instead of declining the transaction) $34.00 $29.00 $24.00 $19.00

Other Account & Service Fees / Winner’s Circle Rewards[1]

E-Services

The Winner’s Circle Levels: Star [2] Ribbon Medallion Trophy [3]
Online24 Internet Account Access Free Free Free Free
Online24 Bill Pay (Internet Bill Paying) Free Free Free Free
E-Statements (available within Online24) Free Free Free Free
Choice24 (Telephone Account Access) Free Free Free Free

Statements

The Winner’s Circle Levels: Star [2] Ribbon Medallion Trophy [3]
Fee for printing and mailing a paper statement
to members age 18 to 65 (fee may be avoided with eStatements)
$1.00 $1.00 $1.00 $1.00

Safe Deposit Box

Downtown office only. Sizes and yearly rates are:

The Winner’s Circle Levels: Star [2] Ribbon Medallion Trophy [3]
Combined Average Daily Deposit & Loan Balances [4]: Less than $5,000 $5,000 to $9,999 $10,000 to $24,999 $25,000 or Greater & Checking
Annual Fee – 3″ X 5″ Box $40.00 $40.00 $40.00 $30.00
Annual Fee – 3″ X 10″ Box $50.00 $50.00 $50.00 $40.00
Annual Fee – 5″ X 10″ Box $60.00 $60.00 $60.00 $50.00
Annual Fee – 10″ X 10″ Box $90.00 $90.00 $90.00 $80.00
Replacing Lost Keys $10.00 $10.00 $10.00 $10.00
Drilling Fee $80.00 $80.00 $80.00 $80.00

Travelers Checks

The Winner’s Circle Levels: Star [2] Ribbon Medallion Trophy [3]
Combined Average Daily Deposit & Loan Balances [4]: Less than $5,000 $5,000 to $9,999 $10,000 to $24,999 $25,000 or Greater & Checking
One Signature Checks (per $100 of checks purchased) $1.00 $1.00 Free Free
Two Signature Checks (per $100 of checks purchased) $1.50 $1.50 Free Free
Gift Checks (per Gift Check purchased) $2.50 $2.50 Free Free
Wire Transfers (Outgoing) Each outgoing member-originated wire transfer. $20.00 $20.00 $15.00 $10.00
Wire Transfers (Incoming) $10.00 $10.00 $10.00 $10.00
International Wire Transfers (minimum charge) $55.00 $55.00 $55.00 $55.00
Money Orders (Each) $4.00 $3.00 Free Free
Cashier Checks(Each) – Fee for each Credit Union teller check if payable to a third party (free if payable to Credit Union member(s)
or to fund a Credit Union loan).
$4.00 $3.00 Free Free
Check Cashing FeeFee per check. Fee waived for members with compensating balances with the Credit Union, and for members with a Credit Union loan. $5.00 Free Free Free
Notary Service Free Free Free Free
Signature Guarantee $5.00 $3.00 Free Free
Credit Card Replacement (VISA/MasterCard) $15.00 $10.00 $10.00 Free

Research and Copies

The Winner’s Circle Levels: Star [2] Ribbon Medallion Trophy [3]
Combined Average Daily Deposit & Loan Balances [4]: Less than $5,000 $5,000 to $9,999 $10,000 to $24,999 $25,000 or Greater & Checking
Research(per hour, 1/2 hour minimum, plus copy charges) $10.00 $10.00 $5.00 $5.00
Copies of Checks (per check copy) $2.00 $1.00 $1.00 Free
Copies of Statements/Transaction History (per statement/history) $5.00 $3.00 $1.00 Free
Verification of Deposit $10.00 $10.00 $10.00 $10.00
Stop Payment(A fee will be charged for all Stop Payments) $34.00 $29.00 $24.00 $19.00
Third Party Check Returned (1st return) $15.00 $10.00 $10.00 $5.00
2nd Return/Not Collectable $20.00 $15.00 $15.00 $10.00
A fee will be charged to re-deposit, or if funds are not collectable
Early Withdrawal from Christmas Club ($5 opening deposit)Fee for any withdrawal from a Christmas Club account, other than the
disbursement you automatically receive each October.
$10.00 $10.00 $10.00 $10.00
Early Closing of IRA(within 1st year of opening) $25.00 $25.00 $25.00 $25.00
Legal Process Fee $50.00 $50.00 $50.00 $50.00
Closed AccountThere is a fee to close accounts within 6 months of opening. $15.00 $15.00 $15.00 $15.00
Inactive AccountIf there has been no activity in an account for the past 12 months the account may be declared inactive and will be charged a monthly fee until the balance falls to $0. $5.00 $5.00 $5.00 $5.00
Bad Address (per year)Annual fee for each share account which has returned mail due to a bad address. $5.00 $5.00 $5.00 $5.00
Dormant Account (per month)If we lose contact with a member because no current address is available and there has been no activity in the account for the past 12 months, the account will be declared dormant and will be charged a monthly fee until the balance is less than $25, at which time the account may be closed. After 5 years, any funds remaining in the account in excess of $25 are turned over to the state of Tennessee. $5.00 $5.00 $5.00 $5.00

Membership Requirement

A deposit of $25 ($5 if 18 yrs old or younger) in your share account makes you eligible for our other services. Members who fail to complete the requirement of one
share ($25) within 6 months of admission of membership, or within 6 months from the increase in the par value of shares, or members who
reduce their share balance below the par value of one share and do not increase the balance to at least the par value of one share within
6 months of the reduction, may be terminated from membership.

  1. Any fees charged against a member’s account will reduce the annual percentage yield (APY)
  2. Any account with charge-off shares or loans, loans past due 30 or more days, or limited share accounts will default to a Basic level which will follow the Star reward level and fee schedule, and will not receive special offers.
  3. The Trophy reward level in The Winner’s Circle requires a checking account.
  4. The Combined Average Daily Deposit & Loan Balance is calculated by totaling the average daily deposit balances (sum of daily balance divided by number of days) for the previous month, with the current loan balances as of the current month’s statement cycle date. The resulting Combined Average Daily Deposit & Loan Balance is then used at the current month’s statement cycle to determine reward levels in the Winner’s circle, which will be printed on the last page of the statement. Notification of any change in The Winner’s circle reward levels will also printed on the last statement page. Members moving up to higher reward levels in The Winner’s circle will begin receiving additional benefits as of the statement cycle date. Members moving to lower reward levels in The Winner’s circle will have until the next statement cycle date before changes are effective.

Bonus dividend rates and/or loan discounts may be periodically available based on reward levels in The Winner’s circle.

Abusive Member Policy

The Board of Directors adopted this policy in order to protect the employees, patrons, and members of Tennessee Valley Federal Credit Union (TVFCU) from members or other persons that disrupt TVFCU’s operations or engage in harassing, offensive or abusive conduct.

Authority to Place Limits and Restrictions on Service to Abusive Members:

A. The Board of Directors authorizes Management (upon prior review with the Board) to limit, restrict or deny any or all services to a member (other than the right to maintain a share account and the right to vote at annual meetings and at special meetings) that engages or participates in harassing, offensive, or abusive conduct or otherwise disrupts TVFCU’s operations. Such harassing, offensive or abusive conduct includes, without limitation, the following acts or omissions:

  • any hostile, abusive or threatening conduct or other action presenting a threat to the safety of TVFCU employees, volunteers, or other members;
  • any illegal or otherwise unlawful conduct or activity on any property maintained by TVFCU or otherwise relating to TVFCU’s operations;
  • any use of deposit accounts, services, or facilities for any illegal purpose;
  • any failure to observe or to comply with the terms of any contracts or agreements with TVFCU and applicable policies;
  • any act or omission which causes, directly or indirectly, any harm, injury or loss to TVFCU or its employees;
  • any harassment, including age, sexual, ethnic, religious or racial harassment, and
  • any racial, sexual, ethnic or other offensive statements directed to or at TVFCU’s members or employees;

B. Notwithstanding the foregoing, TVFCU reserves the right to expel a member consistent with its bylaws and the Federal Credit Union Act and accompanying regulations upon two-thirds vote of the members present at a special meeting called for the purpose of expelling such member. Additionally, in order to preserve and protect the safety of its employees and its members, TVFCU reserves any and all rights and remedies, whether at law or in equity, it may have against any abusive members, including, without limitation, the right to seek in a court of competent jurisdiction injunctive relief prohibiting any member from engaging in abusive, offensive or harassing conduct.

Management is further authorized, in connection with the denial of service to an abusive member, to prohibit the abusive member from any contact, direct or indirect, with any TVFCU employees or volunteers and from any access to any premises, property or branch maintained by TVFCU.