Effective September 30, 2016

Savings Accounts1

Share & Club Accounts

A minimum balance of $25 ($5 if 18 years old or younger, defaulting to the $25 minimum at the end of the month attaining age 19) 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 $15 monthly service charge if your 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 Accounts

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 Certificates (CDs) 

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

Individual Retirement Accounts (IRAs)

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. 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 (HSAs)

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. All standard HSA rules and regulations apply. Check writing is available. See “Rates” for current HSA rate.

Freedom Funds Accounts (Fast Cash Loans)

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 Funds 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 your nearest Credit Union branch. Contact us to add this convenience

Share Draft (Checking) Accounts1

(These accounts pay monthly dividends where applicable)

No Frills/Students Choice Checking

A minimum opening deposit of $50 is required for this account. No minimum balance requirement and 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. There is a $100 minimum balance requirement and a $4 monthly service charge if your balance falls below the minimum. Includes free standard checks (member pays shipping), accidental death and dismemberment insurance, free money orders or 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. There is no minimum balance requirement and the monthly service charge is based on your Winner's Circle Reward 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 Winner's Circle Rewards level:

Winner's Circle Rewards LevelsStar2RibbonMedallionTrophy3
Combined Average Daily Deposit & Loan Balances4 Less Than $5,000 $5,000 to $9,999 $10,000 to $24,999 $25,000 or Greater & Checking
Monthly Service Charge $8 $6 $4 Free
Money Orders & Cashiers Checks $4 Free Free Free
Online Bill Pay Free Free Free Free

Checking Account Related Services & Fees1 (Checking Account Required)

ATM/Visa Debit Cards – TVFCU ATMs are available 24 hours a day, 7 days a week. You can access your account for free at any TVFCU ATM with a Tennessee Valley VISA Debit card or Tennessee Valley ATM card. There is a fee for transactions on non-TVFCU ATMs. Other financial institutions may also charge a fee for the use of their machines.

Winner's Circle Rewards LevelsStar2RibbonMedallionTrophy3
Combined Average Daily Deposit & Loan Balances4 Less Than $5,000 $5,000 to $9,999 $10,000 to $24,999 $25,000 or Greater & Checking
Annual or Monthly Fee Free Free Free Free
Foreign ATM Transactions (withdrawal, transfer) $1 $1 $1 Free
Replacement ATM Card $7 $6 $5 Free
Replacement Visa Debit Card $7 $6 $5 Free
Negative Balance (Visa Debit Card – debit transactions) $34 $29 $24 $19
Copies of Visa Debit Card Receipts $10 $10 $10 Free
Counter/Temporary/Starter Checks (four checks per page) $1 $1 Free Free
Share Overdraft Protection (per transfer to checking)5 $5 $3 $1 Free
Insufficient Funds (per each returned item)6 $34 $29 $24 $19
Courtesy Pay Service $34 $29 $24 $19

Other Account & Service Fees / Winner’s Circle Rewards1

eServices

Winner's Circle Rewards LevelsStar2RibbonMedallionTrophy3
Online Banking Free Free Free Free
Online Bill Pay Free Free Free Free
eStatements Free Free Free Free
Telephone Banking Free Free Free Free

Statements

Winner's Circle Rewards LevelsStar2RibbonMedallionTrophy3
Paper Statements (for members age 18 to 65, but fee may be avoided with eStatements) $1 $1 $1 $1

Safe Deposit Box7

Downtown office only.

Winner's Circle Rewards LevelsStar2RibbonMedallionTrophy3
3" X 5" Box (Annual Fee) $40 $40 $40 $30
3" X 10" Box (Annual Fee) $50 $50 $50 $40
5" X 10" Box (Annual Fee) $60 $60 $60 $50
7" X 10" Box (Annual Fee) $75 $75 $75 $65
10" X 10" Box (Annual Fee) $90 $90 $90 $80
Replacing Lost Keys $10 $10 $10 $10
Drilling Fee $130 $130 $130 $130

Money Orders & Cashier Checks

Winner's Circle Rewards LevelsStar2RibbonMedallionTrophy3
Money Orders (each) $4 $3 Free Free
Cashier Checks (each)8 $4 $3 Free Free
Check Cashing (per check)9 $5 Free Free Free

Wire Transfers

Winner's Circle Rewards LevelsStar2RibbonMedallionTrophy3
Outgoing (member-originated) Wire Transfers $20 $20 $15 $10
Incoming Wire Transfers $10 $10 $10 $10
Foreign Wire Transfers (minimum charge) $55 $55 $55 $55

Miscellaneous

Winner's Circle Rewards LevelsStar2RibbonMedallionTrophy3
Notary Service Free Free Free Free
Signature Guarantee $5 $3 Free Free
HELOC Access Card Replacement $7 $6 $5 Free
Research (per hour, minimum, plus copy charges) $10 $10 $5 $5
Copies of Checks (per copy) $2 $2 $1 Free
Copies of Statements/Transaction History (per copy) $5 $3 $1 Free
Verification of Deposit $10 $10 $10 $10
Stop Payment $34 $29 $24 $19
Third Party Check Returned (first return) $15 $10 $10 $5
Third Party Check Returned (second return to re-deposit or if funds are not collectible) $20 $15 $15 $10
Early Withdrawal From Christmas Club (for any withdrawal other than the disbursement you automatically receive each October) $10 $10 $10 $10
Early Closing of IRA (within first year of opening) $25 $25 $25 $25
Legal Process Fee $50 $50 $50 $50
Closed Account (within six months of opening) $15 $15 $15 $15
Inactive Account (per month)10 $5 $5 $5 $5
Bad Address (per year)11 $5 $5 $5 $5
Dormant Address (per month)12 $5 $5 $5 $5

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.

1Any fees charged against a member’s account will reduce the annual percentage yield (APY).

2Any account with charged-off loans or shares, loans 30 days past due or more, or limited share accounts will default to a Basic level which will follow the fee schedule for the Star Rewards level, and will not receive any special offers.

3A checking account is required to receive Trophy level rewards.

4The 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 the Winner’s Circle Rewards level, which will be printed on the last page of the statement. Notification of any change in the Winner’s Circle Rewards level will also be printed on the last statement page. Members moving to a higher Winner’s Circle Rewards level will begin receiving additional benefits as of the statement cycle date. Members moving to a lower Winner’s Circle Rewards level will have until the next statement cycle date before changes are effective.

5A 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.

6A fee will be charged for each returned item including: checks, automatic transfers (utilities, insurance or ACH payments) due to insufficient funds (NSF). Excessive NSF charges may result in the share draft account being closed.

7Contents are not insured or guaranteed by the credit union, the NCUA, or by any other government agency.

8Fee 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).

9Fee waived for members with compensating balances with the Credit Union, and for members with a Credit Union loan.

10If 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.

11Annual fee for each share account which has returned mail due to a bad address.

12If 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.

Bonus dividend rates and/or loan discounts may be periodically available based on Winner’s Circle Rewards level.

Costs, Expenses and Attorney's Fees for All Accounts and Services – All owners of account(s) or service(s) with us agree, jointly and severally, to pay us for all costs and expenses, including attorneys' fees we may incur: (1) If it is necessary for us to bring any legal or other action to collect any sum you owe the Credit Union; (2) If we incur any costs or expense as a result of any order or instruction received from any owner or any owner's agent under this Agreement, any adverse claim, legal process; your failure to comply with any obligation in this Membership Agreement or otherwise; (3) If we incur any expense as a result of any dispute, adverse or inconsistent claims; (4) If we bring any action contemplated in this Agreement; (5) If we successfully defend any claim against the Credit Union brought by any owner, agent, personal representative, executor, heir or other party in interest brought via any formal or informal process (including but not limited to arbitration or mediation) involving your accounts or services with us; or (6) If we deem it necessary to seek the advice or opinion of legal counsel or other professionals regarding the bona fides or legality of any transaction(s) to/from your accounts or involving any services with us, or any request for information or documentation regarding any of your accounts and/or services with us. If you are responsible to pay us any costs of collection or legal expenses incurred in collecting any amount you owe; in enforcing or protecting our rights under this Agreement or otherwise; or as provided in this subsection, including but not limited to costs of repossession, repair, appraisal, and all other costs or expenses, you agree to pay us the actual amount of such costs and expenses together with reasonable attorneys’ fees. In the case of any collection action you agree that 20% of the unpaid balance or such greater sum as may be appropriate based on the circumstances shall be a reasonable amount, unless applicable law specifically provides otherwise. Further, you agree to pay the Credit Union an additional sum for any costs, legal expenses or attorneys’ fees incurred in any appellate, bankruptcy or post-judgment proceedings, except as limited or prohibited by applicable law. Any costs, expenses or fees hereunder will be paid from any of your account(s) with the Credit Union before payment to any owner or other party. If the amounts in your account(s) are not sufficient, then the owner(s) of the affected account(s) or parties to any applicable services will immediately pay any difference.

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