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Account Agreement Disclosure

Terms and Conditions of Your Account

AGREEMENT – This document, along with any other documents we give you pertaining to your account(s), is a contract that establishes rules, which control your account(s) with us.  Please read this carefully.  If you sign the signature card, open an account, or continue to have your account with us, you agree to these rules.  You will receive a separate schedule of rates, qualifying balances, and fees if they are not included in this document.  If you have any questions, please call us at 610-447-9900.

This agreement is subject to applicable federal laws and the laws of the state of Pennsylvania (except to the extent that this agreement can and does vary such rules or laws).  The body of state and federal law that governs our relationship with you, however, is to large and complex to be reproduced here.  The purpose of this document is to:

  • Summarize some laws that apply to common transactions
  • Establish rules to cover transactions or events which the law does not regulate
  • Establish rules for certain transactions or events which the law regulates but permits variation by agreement; and
  • Give you disclosures of some of our polices to which you may be entitled or in which you may be interested.

If any provision of this document is found to be unenforceable according to its terms, all remaining provisions will continue in full force and effect. We may permit some variations from our standard agreement, but we must agree to any variation in writing either on the signature card for your account or in some other document.

As used in this document the words "we," "our," and "us" mean Sentry FCU and the words "you" and "your" mean the account holder(s) and anyone else with the authority to deposit, withdraw, or exercise control over the funds in the account. The headings in this document are for convenience or reference only and will not govern the interpretation of the provisions. Unless it would be inconsistent to do so, words and phrases used in this document should be construed so the singular includes the plural and the plural includes the singular.

BYLAWS - Our bylaws, which we may amend from time to time, establish basic rules about our credit union policies and operations, which affect your account and membership. You may obtain a copy of the bylaws on request. Our right to require you to give us notice of your intention to withdraw funds from your account is described in the bylaws. Unless we have agreed otherwise, you are not entitled to receive any original item after it is paid, although you may request that we send you an item(s) or a copy of an item(s). Dividends are based on current earnings and available earnings of the credit union, after providing for required reserves.

LIABILITY - You agree, for yourself (and the person or entity you represent if you sign as a representative of another) to the terms of this account and the schedule of charges. You authorize us to deduct these charges directly from the account balance as accrued. You will pay any additional reasonable charges for services you request, which are not covered by this agreement.

Each of you also agrees to be jointly and severally (individually) liable for any account shortage resulting from charges or overdrafts, whether caused by you or another with access to this account. This liability is due immediately, and can be deducted directly from the account balance whenever sufficient funds are available. You have no right to defer payment of this liability, and you are liable regardless of whether you signed the item or benefited from the charge or overdraft. This includes liability for our costs to collect the deficit including, to the extent permitted by law, our reasonable attorneys' fees.

DEPOSITS - We will give only provisional credit until collection is final for any items, other than cash, we accept for deposit (including items drawn "on us"). Actual credit for deposits of, or payable in, foreign currency will be at the exchange rate in effect on final collection in U.S. dollars. We are not responsible for transactions by mail or outside depository until we actually record them. We will treat and record all transactions received after our "daily cutoff time" on a business day we are open, or received on a day we are not open for business, as if initiated on the next following business day that we are open.

WITHDRAWALS - Unless clearly indicated otherwise on the account records, any of you, acting alone, who signs in the space designated for signatures on the signature card may withdraw or transfer all or any part of the account balance at any time. Each of you (until we receive written notice to the contrary) authorizes each other person signing the signature card to indorse any item payable to you or your order for deposit to this account or any other transaction with us. We may charge your account for a check even though payment was made before the date of the check, unless we have received written notice of the postdating in time to have a reasonable opportunity to act. We may refuse any withdrawal or transfer request which you attempt on forms not approved by us, by any method we do not specifically permit, which is greater in number than the frequency permitted, or which is for an amount greater or less than any withdrawal limitations. Even if we honor a nonconforming request, we may treat continued abuse of the stated limitations (if any) as your act of closing the account. We will use the date the transaction is completed by us (as opposed to the date you initiate it) to apply the frequency limitations. The fact that we may honor withdrawal requests that overdraw the available account balance does not obligate us to do so later. See the funds availability policy disclosure for information about when you can withdraw funds you deposit. For those accounts for which our funds availability policy disclosure does not apply, you can ask us when you make a deposit when those funds will be available for withdrawal.

OWNERSHIP OF ACCOUNT AND BENEFICIARY DESIGNATION - These rules apply to this account depending on the form of ownership and beneficiary designation, if any, specified on the account records. We reserve the right to refuse some forms of ownership on any or all of our accounts. We make no representations as to the appropriateness or effect of the ownership and beneficiary designations, except as they determine to whom we pay the account funds.

Individual Account - is an account in the name of one person.

Joint Account - With Survivorship (And Not As Tenants In Common) - is an account in the name of two or more persons. Each of you intends that when you die the balance in the account (subject to any previous pledge to which we have agreed) will belong to the survivor(s). If two or more of you survive, you will own the balance in the account as joint tenants with survivorship and not as tenants in common.

Joint Account - No Survivorship (As Tenants In Common) - is owned by two or more persons, but none of you intend (merely by opening this account) to create any right of survivorship in any other person. We encourage you to agree and tell us in writing of the percentage of the deposit contributed by each of you. This information will not, however, affect the "number of signatures" necessary for withdrawal.

Revocable Trust Account - If two or more of you create such an account, you own the account jointly with survivorship. Beneficiaries cannot withdraw unless: (1) all persons creating the account die, and (2) the beneficiary is then living. If two or more beneficiaries are named and survive the death of all persons creating the account, such beneficiaries will own this account in equal shares, without right of survivorship. The person(s) creating this account type reserve the right to: (1) change beneficiaries, (2) change account types, and (3) withdraw all or part of the account funds at any time.

BUSINESS ACCOUNTS - Earnings in the form of interest, dividends, or credits will be paid only on collected funds, unless otherwise provided by law or our policy. We may require the governing body of the legal entity opening the account to give us a separate authorization telling us who is authorized to act on its behalf. We will honor the authorization until we actually receive written notice of a change from the governing body of the legal entity.

STOP PAYMENTS - You must make any stop-payment order in the manner required by law and we must receive it in time to give us a reasonable opportunity to act on it before our stop-payment cutoff time. To be effective, your stop-payment order must precisely identify the number, date and amount of the item, and the payee.

You may stop payment on any item drawn on your account whether you sign the item or not, if you have an equal or greater right to withdraw from this account than the person who signed the item. Only the person who initiated the stop-payment order may make a release of the stop-payment request.
Our stop-payment cutoff time is one hour after the opening of the next banking day after the banking day on which we receive the item. Additional limitations on our obligation to stop payment are provided by law (e.g., we paid the item in cash or we certified the item).

TELEPHONE TRANSFERS - A telephone transfer of funds from this account to another account with us, if otherwise arranged for or permitted, may be made by the same persons and under the same conditions generally applicable to withdrawals made in writing. Unless a different limitation is disclosed in writing, we restrict the number of transfers from a savings account to another account or to third parties, to a maximum of six per month (less the number of "preauthorized transfers" during the month). Other account transfer restrictions may be described elsewhere.

AMENDMENTS AND TERMINATION - We may change our bylaws and any term of this agreement. Rules governing changes in rates are provided separately. For other changes we will give you reasonable notice in writing or by any other method permitted by law. We may close this account if your membership in the credit union terminates, or by giving reasonable notice to you and tender of the account balance personally or by mail. At our option, we may suspend your rights to member services if you violate the terms of this agreement. You must keep us informed of your current address at all times. Notice from us to any one of you is notice to all of you.

STATEMENTS - You must examine your statement of account with "reasonable promptness." If you discover (or reasonably should have discovered) any unauthorized signatures or alterations, you must promptly notify us of the relevant facts. As between you and us, if you fail to do either of these duties, you will have to either share the loss with us, or bear the loss entirely yourself (depending on whether we used ordinary care and, if not, whether we substantially contributed to the loss). The loss could be not only with respect to items on the statement but other items with unauthorized signatures or alterations by the same wrongdoer.
You agree that the time you have to examine your statement and report to us will depend on the circumstances, but will not, in any circumstance, exceed a total of 30 days from when the statement is first sent or made available to you.

You further agree that if you fail to report any unauthorized signatures, alterations, forgeries, or any other errors in your account within 60 days of when we first send or make the statement available, you cannot assert a claim against us on any items in that statement, and as between you and us the loss will be entirely yours. This 60-day limitation is without regard to whether we used ordinary care. The limitation in this paragraph is in addition to that contained in the first paragraph of this section.

ACCOUNT TRANSFER - This account may not be transferred or assigned without our prior written consent.

DIRECT DEPOSITS - If, in connection with a direct deposit plan, we deposit any amount in an account which should have been returned to the Federal Government for any reason, you authorize us to deduct the amount of our liability to the Federal Government from the account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability.

TEMPORARY ACCOUNT AGREEMENT - If this option is selected, this is a temporary account agreement. Each person who signs in the space designated for signatures on the signature card (except as indicated to the contrary) may transact business on this account. However, we may at some time in the future restrict or prohibit further use of this account if you fail to comply with the requirements we have imposed within a reasonable time.

RIGHT TO REPAYMENT OF INDEBTEDNESS - You each agree that we may (without prior notice and when permitted by law) charge against and deduct from this account any due and payable debt owed to us now or in the future, by any of you having the right of withdrawal, to the extent of such persons' or legal entity's right to withdraw. If the debt arises from a note, "any due and payable debt" includes the total amount of which we are entitled to demand payment under the terms of the note at the time we charge the account, including any balance the due date for which we properly accelerate under the note.

In addition to these contract rights, we may also have rights under a "statutory lien." A "lien" on property is a creditor's right to obtain ownership of the property in the event a debtor defaults on a debt. A "statutory lien" is one created by federal or state statute. If federal or state law provides us with a statutory lien, then we are authorized to apply, without prior notice, your shares and dividends to any debt you owe us, in accord with the statutory lien.

Neither our contract rights nor rights under a statutory lien apply to this account if: (a) it is an Individual Retirement Account or other tax-deferred retirement account, or (b) the debt is created by a consumer credit transaction under a credit card plan (but this does not affect our rights under any consensual security interest), or (c) the debtor's right of withdrawal arises only in a representative capacity. We will not be liable for the dishonor of any check or draft when the dishonor occurs because we charge and deduct an amount you owe us from your account. You agree to hold us harmless from any claim arising as a result of our exercise of our right to repayment.

AUTHORIZED SIGNER (Individual Accounts only) - A single individual is the owner. The authorized signer is merely designated to conduct transactions on the owner's behalf. We undertake no obligation to monitor transactions to determine that they are on the owner's behalf.

RESTRICTIVE LEGENDS - We are not required to honor any restrictive legend on checks you write unless we have agreed in writing to the restriction. Examples of restrictive legends are "must be presented within 90 days" or "not valid for more than $1,000.00."

PAYMENT ORDER OF ITEMS - The law permits us to pay items (such as checks or drafts) drawn on your account in any order. To assist you in handling your account with us, we are providing you with the following information regarding how we process the items that you write. When processing items drawn on your account, our policy is to pay them according to the dollar amount. We pay the largest items first. The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. Our payment policy will cause your largest, and perhaps more important, items to be paid first (such as your rent or mortgage payment), but may increase the overdraft or NSF fees you have to pay if funds are not available to pay all of the items. If an item is presented without sufficient funds in your account to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item (NSF).

The amounts of the overdraft and NSF fees are disclosed elsewhere. We encourage you to make careful records and practice good account management. This will help you to avoid writing checks or drafts without sufficient funds and incurring the resulting fees.

PLEDGES - Unless we agree otherwise in writing, each owner of this account may pledge all or any part of the funds in it for any purpose to which we agree. Any pledge of this account must first be satisfied before the rights of any surviving account owner or account beneficiary become effective.

ACH AND WIRE TRANSFERS - This agreement is subject to Article 4A of the Uniform Commercial Code - Fund Transfers as adopted in the state in which you have your account with us. If you originate a fund transfer for which Fedwire is used, and you identify by name and number a beneficiary financial institution, an intermediary financial institution or a beneficiary, we and every receiving or beneficiary financial institution may rely on the identifying number to make payment. We may rely on the number even if it identifies a financial institution, person or account other than the one named. You agree to be bound by automated clearing house association rules. These rules provide, among other things, that payments made to you, or originated by you, are provisional until final settlement is made through a Federal Reserve Bank or payment is otherwise made as provided in Article 4A-403(a) of the Uniform Commercial Code. If we do not receive such, we are entitled to a refund from you in the amount credited to your account and the party originating such payment will not be considered to have paid the amount so credited. If we receive a credit to an account you have with us by wire or ACH, we are not required to give you any notice of the payment order or credit.

FACSIMILE SIGNATURES - You authorize us, at any time, to charge you for all checks, drafts, or other orders, for the payment of money, that are drawn on us regardless of by whom or by what means the facsimile signature(s) may have been affixed so long as they resemble the facsimile signature specimen filed with us, and contain the required number of signatures for this purpose.

Savings Accounts

Rate Information:

  • The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors.
  • Compounding and crediting - Dividends will be compounded every month. Dividends will be credited to your account every month.
  • Dividend period - For this account type, the dividend period is monthly, for example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the last day of the dividend period and for the example above is January 31.
  • If you close your account before dividends are paid, you will not receive the accrued dividends.

Minimum balance requirements:

  • The minimum required to open this account is considered the purchase of a share in the credit union.  The par value of a share in this account is $5.00.
  • You must maintain a minimum daily balance of $50.00 in your account to avoid a monthly service fee. Link to Service Fee Schedule
  • Average daily balance computation method - Dividends are calculated by the average daily balance method, which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is the monthly statement cycle.
  • Accrual of dividends on non-cash deposits - Dividends will begin to accrue no later than the business day we receive provisional credit for the placement of non-cash items (for example, checks) to your account.

Transaction limitations:

  • During any statement period, 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, computer 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. If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the credit union.

Regular Checking Accounts (Share Draft)

Minimum balance requirements:

  • The minimum balance required to open this account is $50.00.
  • You must maintain a minimum daily balance of $100.00 in your account to avoid a monthly service fee. Link to Service Fee Schedule

Transaction limitations:

  • No transaction limitations apply to this account.

Interest Checking Account (Share Draft)

Rate Information:

  • The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors.
  • Compounding and crediting - Dividends will be compounded every month. Dividends will be credited to your account every month.
  • Dividend period - For this account type, the dividend period is monthly, for example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the last day of the dividend period and for the example above is January 31.
  • If you close your account before dividends are paid, you will not receive the accrued dividends.

Minimum balance requirements:

  • The minimum balance required to open this account is $50.00.
  • You must maintain a minimum daily balance of $500.00 in your account to avoid a monthly service fee. Link to Service Fee Schedule
  • You must maintain a minimum average daily balance of $1,000.00 in your account to obtain the disclosed annual percentage yield.
  • Average daily balance computation method - Dividends are calculated by the average daily balance method, which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is the monthly statement cycle.
  • Accrual of dividends on non-cash deposits - Dividends will begin to accrue no later than the business day we receive provisional credit for the placement of non-cash items (for example, checks) to your account.

Transaction limitations:

  • No transaction limitations apply to this account.

Vacation Club Account

Rate Information:

  • The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors.
  • Compounding and crediting - Dividends will be compounded every month. Dividends will be credited to your account every month.
  • Dividend period - For this account type, the dividend period is monthly, for example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the last day of the dividend period and for the example above is January 31.
  • If you close your account before dividends are paid, you will not receive the accrued dividends.

Minimum balance requirements:

  • No minimum balance requirements apply to this account.
  • Average daily balance computation method - Dividends are calculated by the average daily balance method, which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is the monthly statement cycle.
  • Accrual of dividends on non-cash deposits - Dividends will begin to accrue no later than the business day we receive provisional credit for the placement of non-cash items (for example, checks) to your account.

Transaction limitations:

  • During any statement period, 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, computer 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. If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the credit union.

Holiday Club Account

Rate Information:

  • The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors.
  • Compounding and crediting - Dividends will be compounded every month. Dividends will be credited to your account every month.
  • Dividend period - For this account type, the dividend period is monthly, for example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the last day of the dividend period and for the example above is January 31.
  • If you close your account before dividends are paid, you will not receive the accrued dividends.

Minimum balance requirements:

  • No minimum balance requirements apply to this account.
  • Average daily balance computation method - Dividends are calculated by the average daily balance method, which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is the monthly statement cycle.
  • Accrual of dividends on non-cash deposits - Dividends will begin to accrue no later than the business day we receive provisional credit for the placement of non-cash items (for example, checks) to your account.

Transaction limitations:

  • During any statement period, 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, computer 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. If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the credit union.

Money Market Account

Rate Information:

  • The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors.
  • Compounding and crediting - Dividends will be compounded every month. Dividends will be credited to your account every month.
  • Dividend period - For this account type, the dividend period is monthly, for example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the last day of the dividend period and for the example above is January 31.

Minimum balance requirements:

  • The minimum balance required to open this account is $500.00.
  • You must maintain a minimum daily balance of $1,000.00 in your account to avoid a monthly service fee. Link to Service Fee Schedule
  • You must maintain a minimum average daily balance of $2,500.00 in your account to obtain the disclosed annual percentage yield.
  • Average daily balance computation method - Dividends are calculated by the average daily balance method, which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is the monthly statement cycle.
  • Accrual of dividends on non-cash deposits - Dividends will begin to accrue no later than the business day we receive provisional credit for the placement of non-cash items (for example, checks) to your account.

Transaction limitations:

  • During any statement period, 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, computer 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. If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the credit union.

Fees and charges:

  • Please refer to our fee schedule for additional information about charges.

Individual Retirement Account (IRA)

Rate Information:

  • The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors.
  • Compounding and crediting - Dividends will be compounded every month. Dividends will be credited to your account every month.
  • Dividend period - For this account type, the dividend period is monthly, for example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the last day of the dividend period and for the example above is January 31.
  • If you close your account before dividends are paid, you will not receive the accrued dividends.

Minimum balance requirements:

  • No minimum balance requirements apply to this account.
  • Average daily balance computation method - Dividends are calculated by the average daily balance method, which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is the monthly statement cycle.
  • Accrual of dividends on non-cash deposits - Dividends will begin to accrue no later than the business day we receive provisional credit for the placement of non-cash items (for example, checks) to your account.

Transaction limitations:

  • During any statement period, 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, computer 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. If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the credit union.

Certificate Account IRA Certificate

Rate Information:

  • The dividend rate and annual percentage yield are set when the certificate or IRA certificate is opened, as determined by the credit union board of directors.
  • Compounding frequency - Unless otherwise paid, dividends will be compounded quarterly.
  • Crediting frequency - Dividends will be credited to your account every quarter. Alternatively, you may choose to have dividends paid to you or to another account every quarter rather than credited to this account.
  • Dividend period - For this account type, the dividend period is quarterly.

Minimum balance requirements:

  • The minimum balance required to open this account is $500.00.
  • Daily balance computation method - Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day.
  • Accrual of dividends on non-cash deposits - Dividends will begin to accrue on the business day you place non-cash items (for example, checks) to your account.

Transaction limitations:

  • After the account is opened, you may not add to the account until the maturity date stated on the account.
  • You may make withdrawals of principal from your account before maturity. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty.
  • You can only withdraw dividends before maturity if you make arrangements with us for periodic payments of dividends in lieu of crediting.
  • Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity)
  • If your account has an original maturity of less than one year, the penalty we may impose will be the greater of:
    - Seven days dividends on the amount withdrawn, or
    - All Dividends that have been earned not to exceed 90 days.
  • If your account has an original maturity of one year or more, the penalty we may impose will be the greater of:
    - Seven days dividends on the amount withdrawn, or
    - All dividends that have been earned not to exceed 180 days.
  • When earned dividends are not sufficient to pay the calculated penalty in full, the principal balance of the certificate will be used to satisfy the difference.
  • In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. See your plan disclosure if this account is part of an IRA or other tax qualified plan.
  • Withdrawal of dividends prior to maturity - The annual percentage yield is based on an assumption that dividends will remain in the account until maturity. A withdrawal will reduce earnings.
  • Automatically renewable account - This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any) or we receive written notice from you within the grace period mentioned below, if any. We can prevent renewal if we mail notice to you at least 30 calendar days before maturity. If either you or we prevent renewal, your funds will be placed in a dividend-bearing account.
  • Each renewal term will be the same as the original term, beginning on the maturity date. The dividend rate will be the same we offer on new term share accounts on the maturity date, which have the same term, minimum balance (if any) and other features as the original term share account.
  • You will have a grace period of ten calendar days after maturity to withdraw the funds without being charged an early withdrawal penalty.

Variable Rate Certificate of Deposit

Rate Information:

  • The dividend rate and annual percentage yield may change quarterly. The dividend rate for Tier 1 is equal to the 91-day T-Bill discount rate. The dividend rate for Tier 2 will be 1/2% below the 91-day T-Bill discount rate. The dividend rate for Tier 3 will be 1% below the 91-day T-Bill discount rate. The dividend rate for Tier 4 will be 2% below the 91-day T-Bill discount rate.
  • Compounding frequency - Unless otherwise paid, dividends will be compounded every month.
  • Crediting frequency - Dividends will be credited to your account every month. Alternatively, you may choose to have dividends paid to you or to another account every month rather than credited to this account.
  • Dividend period - For this account type, the dividend period is quarterly.

Minimum balance requirements:

  • The minimum balance required to open this account is $500.00.
  • Daily balance computation method - Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day.
  • Accrual of dividends on non-cash deposits - Dividends will begin to accrue on the business day you place non-cash items (for example, checks) to your account.

Transaction limitations:

  • You may make unlimited additions into your account.
  • There are no limitations on the frequency or timing of additions, except that no additions can be made in the last seven days before maturity.
  • You may make one withdrawal per calendar quarter without a penalty.
  • You may make withdrawals of principal from your account before maturity. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty.
  • You can only withdraw dividends credited in the term before maturity of that term without penalty. You can withdraw dividends anytime during the term of crediting after they are credited to your account. This dividend withdrawal limitation does not apply if you have made arrangements to have dividends paid to you or to another account in lieu of having them credited to this account.
  • Time requirements - Your account will mature one year from the date the account was opened.
  • Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity) - The penalty we may impose will be: 

    - All dividends that has been earned not to exceed 90 days.

    - In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. See your plan disclosure if this account is part of an IRA or other tax qualified plan.

    - For any account which earns a dividend rate that may vary from time to time during the term, the dividend rate we will use to calculate this early withdrawal penalty will be the dividend rate in effect at the time of the withdrawal.

    - Withdrawal of dividends prior to maturity - The annual percentage yield is based on an assumption that dividends will remain in the account until maturity. A withdrawal will reduce earnings.

    - Automatically renewable account - This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any) or we receive written notice from you within the grace period mentioned below, if any. We can prevent renewal if we mail notice to you at least 30 calendar days before maturity. If either you or we prevent renewal, dividends will continue to accrue after final maturity for up to 10 days. The dividend rate will be the same we offer on new term share accounts on the maturity date, which have the same term.

    - Each renewal term will be the same as the original term, beginning on the maturity date. Dividends will be calculated on the same basis as during the original term.

    - You will have a grace period of ten calendar days after maturity to withdraw the funds without being charged an early withdrawal penalty.

Sentry Advantage Program

Program Description:

The Sentry Advantage Program is open to all Sentry Federal Credit Union members having a Sentry Interest Checking account and any combination of the following account types: Share, Money Market, Certificates of Deposit, and IRAs. The program benefits include: exemption from minimum balance service charges on member's share, checking, or money market accounts.

Minimum balance requirements:

You must maintain a combined average account balance of $5,000.00 to avoid a monthly service fee. Eligible account types include Interest Checking and any combination of Share, Money Market, Certificates of Deposit, or IRAs. If, during any monthly statement cycle, your combined average account balance falls below the minimum required, your account will be subject to a monthly service fee.  Link to Service Fee Schedule This fee will be charged to your checking account.

Sentry Advantage 50 Program

Program Description:

The Sentry Advantage 50 Program is open to all Sentry Federal Credit Union members at least 50 years of age having a Sentry Interest Checking account and any combination of the following account types: Share, Money Market, Certificates of Deposit, and IRAs. The program benefits include: exemption from minimum balance service charges on member's share, checking, or money market accounts.

Minimum balance requirements:

You must maintain a combined average account balance of $3,000.00 to avoid a monthly service fee. Eligible account types include Interest Checking and any combination of Share, Money Market, Certificates of Deposit, or IRAs. If, during any monthly statement cycle, your combined average account balance falls below the minimum required, your account will be subject to a monthly service fee.  Link to Service Fee Schedule   This fee will be charged to your checking account.

Common Features

Bylaw requirements:

  • You must complete payment of one share in your Savings account as a condition of admission to membership.
  • Transaction limitation - We reserve the right to at any time require not less than seven days notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D.
  • Nature of dividends - Dividends are paid from current income and available earnings. (This disclosure further explains the dividend feature of your non-term share account(s).)
  • National Credit Union Share Insurance Fund - Member accounts in this credit union are federally insured by the National Credit Union Share Insurance Fund.

Dormant accounts:

Savings accounts with balances under $100.00 with no transaction activity for a period of one (1) year and with no other savings, checking, or consumer loan relationship will be considered dormant.

Checking accounts with balances under $25.00 with no transaction activity for a period of six (6) months will be considered dormant.

Money Market accounts with balances under $100.00 with no transaction activity for a period of one (1) year will be considered dormant.

Please refer to our fee schedule for additional information about charges.

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