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Smart ways to fund your future.
At Smart Financial, we believe in dreaming big and conquering your financial goals! With several Savings Accounts to choose from, you get to determine a pace that works for you.
Share Savings
Perfect for overdraft protection, emergency savings, or establishing Smart membership.
Dividend rate*.20%
Open Now
- $5 deposit to open
- no monthly fees
- no minimum balances
Money Market
A better savings choice for daily balances over $2,500 with anytime access to your funds.
Dividends as high as*.30%
Open Now
- dividends increase with balances
- no monthly fees when balance requirement is met
- easy access to your funds
- Learn More
Certificate of Deposit
The best way to save for future goals with limited access to funds and higher dividends.
Dividends as high as*.80%
Open at Branch
- tiers available with deposits from $1k to $100k
- the higher the tier, the higher the returns
- terms available from six months to five years
- Learn More
Individual Retirement Account
Prepare for retirement with tax-advantaged savings options.
Dividends as high as*.40%
Open at Branch
- Minimum deposit of $1,000
- The higher the tier, the higher the returns
- Terms available from twelve months to five years
- Learn More
TRUTH IN SAVINGS ACT DISCLOSURES
All accounts are subject to membership eligibility requirements.
APY = Annual Percentage Yield
APR = Annual Percentage Rate
Deposits are insured by the National Credit Union Administration (NCUA) up to $250,000.
From time to time, promotional new account offers may apply; see applicable addendum for details.
FUNDS AVAILABILITY
For all accounts, deposits are subject to the credit union's Funds Availability Policy Disclosure.
INTEREST INFORMATION
Paying Interest
We pay interest on your accounts in
accordance with Smart Financial Credit Union’s Bylaws, the Texas Credit Union Law, and the
Truth-in-Savings Act and Regulations. Interest is paid from current income and available earnings
after required transfers to reserves at the end of a dividend period. Fees could reduce earnings on
the interest earning accounts.
The interest rate and APY may change at any time, as determined
by Smart Financial Credit Union’s Board of Directors. Current rate information and minimum
balance requirements to open and earn the APY are stated in the Rate Schedule. You may also
obtain current rate information by calling us at (713) 850-1600 or visiting our website at www.smartcu.org.
Compounding and Crediting
Interest compounding and crediting information for each type of interest-bearing account is found below.
Interest Accrual on Non-Cash Deposits
For interest-bearing accounts, interest will begin to accrue on the business day you deposit non-cash items (for example, checks) to your account if deposited before the close of business.
FEE SCHEDULE
See Smart Financials' Fee Schedule for a listing of fees and charges applicable to your account(s) at www.smartcu.org .
SAVINGS ACCOUNTS
| Account | Minimum to Open | Dividend Rate | Interest Rate | APY | Minimum to obtain disclosed APY |
|---|---|---|---|---|---|
| Share (Savings) | $5 | .20% | N/A | .20% | $100 |
Effective Date:
Rate Information
The interest rate and APY may change at any time as determined by Smart Financial Credit Union’s Board of Directors.
Interest Compounding & Crediting
For interest-bearing savings accounts, interest will be compounded and credited monthly on the last day of the month.
Minimum Deposit and Balance Requirements
The minimum deposit required to open a savings account is $5. The minimum balance required to earn the disclosed APY is $100.
Daily Balance Computation Method
Interest is calculated using the daily balance method, which applies a daily periodic rate to the balance in the account each day.
Fees and Charges
Fees and charges that may be assessed against your accounts are disclosed in the Fee Schedule. You authorize us to charge any account in which you have an ownership interest for any such fees or charges assessed without notice to you.
CHECKING ACCOUNTS
| Account | Minimum to Open | Average Balance | Interest Rate | Monthly Service Fee |
|---|---|---|---|---|
| Smart Scholar | $25 | 0.00% | $10 Monthly Service Charge (waived for ages 14-17) | |
| Smart Start | $25 | 0.00% | $10 Monthly Service Charge (waived for ages under 26) | |
| Smart Choice | $50 | 0.00% | $10 Monthly Service Charge (waived if direct deposit > $500/month or 20+ debit card transactions/month or 65+ years of age) | |
| Smart Premier | $100 | < $2,500.00 | 0.05% | $15 Monthly Service Charge (waived when combined average balance of deposits & loans exceed $15,000/month or direct deposit > $3K/month) |
| Smart Premier | $100 | > $2,500.00 | 0.10% | $15 Monthly Service Charge (waived when combined average balance of deposits & loans exceed $15,000/month or direct deposit > $3K/month) |
Effective Date:
Rate Information
The interest rate and APY may change at any time as determined by Smart Financial Credit Union’s Board of Directors.
Interest Compounding & Crediting
Interest will be compounded and credited monthly on the last day of the month.
Minimum Deposit and Balance Requirements
The minimum deposit requirements applicable to each Account are as follows:
Smart Scholar Checking - $25
Smart Start Checking - $25
Smart Choice Checking - $50
Smart Premier Checking - $100
No minimum balance is required to earn the disclosed APY on the Smart Premier checking account.
Transaction Limitations
No transaction limitations apply to checking accounts.
Fees
Fees and charges that may be assessed against your accounts are disclosed in the Fee Schedule. You authorize us to charge any account in which you have an ownership interest for any such fees or charges assessed without notice to you.
Additional Terms and Conditions
Smart Choice Checking is subject to a $10 monthly service fee. Requirements to waive the fee include one of the following: 1) have a monthly recurring direct deposit of $500 or more, 2) complete at least 20 Point Of Sale (POS) debit card transactions per month (ATM transactions do not apply), OR 3) primary account holder is 65 years of age or older. If direct deposit stops AND POS transactions stop meeting these requirements within a 30 day statement period, the $10 monthly will apply and will continue to be charged to your account until ONE of the THREE qualifications has been re-established. Terms and conditions may change at any time without prior notice. The monthly service charge will be waived for the first 3-months of account opening to allow for the initiation of the direct deposit. Smart Choice Checking statements will be delivered electronically. If paper statements are desired, the member may opt in but will incur a $2 statement fee.
Smart Premier Checking is subject to a $15 monthly service fee. Requirements to waive the fee include one of the following: 1) the primary account owner must maintain an average of $15,000 combined loan and account balances per month, OR 2) have a monthly recurring direct deposit of $3,000 or more. If direct deposit stops AND the average monthly combined balances drop below threshold, the $15 monthly fee will apply and will continue to be charged to the account until ONE of the TWO qualifications has been re-established. Terms and conditions may change at any time without prior notice. The monthly service charge will be waived for the first 3-months of account opening.
Smart Premier dividend rate is tiered and based on average balance during a 30-day period.
Qualifying Premier accounts will be reimbursed up to $10 per month, or $120 per calendar year, for accrued ATM surcharges (3rd party fees). In addition, no Smart Financial ATM fees will accrue on Smart Premier accounts.
In addition to any other reasons stated in this Disclosure, we may close your checking account if you:
Fail to maintain sufficient funds in the account.
Have items returned for non-sufficient funds (NSF).
Fail to abide by these terms and conditions.
If the account remains negative for more than 30 consecutive days.
IRA SAVINGS ACCOUNT
| Account | Minimum to Open | Minimum Balance | Interest Rate | APY |
|---|---|---|---|---|
| IRA (Savings) | $100 or $50 w/ payroll deduction-Direct Deposit | $0-2,499.99 | 0.500% on entire balance | 0.50% |
| $2,500.00-9,999.99 | 0.599% on entire balance | 0.60% | ||
| $10,000.00-24,999.99 | 0.749% on entire balance | 0.75% | ||
| $25,000.00-49,999.99 | 0.997% on entire balance | 1.00% | ||
| $50,000.00-99,999.99 | 1.493% on entire balance | 1.50% | ||
| $100,000.00+ | 1.74% on entire balance | 1.75% |
Effective Date:
Individual Retirement Accounts/Certificates of Deposit
| Term | Interest Rate APR* | APY | Minimum Opening Balance |
|---|---|---|---|
| 12-month IRA | 3.542% | 3.60% | $1,000 |
| 24-month IRA | 3.300% | 3.35% | |
| 36-month IRA | 2.813% | 2.85% | |
| 48-month IRA | 2.813% | 2.85% | |
| 60-month IRA Special | 3.057% | 3.10% |
Effective Date:
Rate Information
The interest rate and APY may change at any time as determined by Smart Financial Credit Union’s Board of Directors.
Interest Compounding & Crediting
Interest will be compounded and credited monthly on the last day of the month.
Minimum Deposit and Balance Requirements
The minimum deposit required to open an IRA Savings account is $100.
Daily Balance Computation Method
Interest is calculated using the daily balance method which applies a daily periodic rate to the balance in the account each day.
Transaction Limitations
There are no transaction limitations for IRA Savings accounts.
Fees
Fees that may be charged or assessed are disclosed on our Fee Schedule.
CERTIFICATES OF DEPOSIT
| Term | Interest Rate | APY | Minimum Opening Balance |
|---|---|---|---|
| 6-month Tier | 2.472% | 2.50% | $1,000 |
| 12-month Tier | 3.445% | 3.50% | |
| 24-month Tier | 3.203% | 3.25% | |
| 36-month Tier | 2.716% | 2.75% | |
| 48-month Tier | 2.716% | 2.75% | |
| 60-month Tier | 2.960% | 3.00% | |
| 6-month Tier Mini Jumbo | 2.521% | 2.55% | $50,000 |
| 12-month Tier Mini Jumbo | 3.494% | 3.55% | |
| 24-month Tier Mini Jumbo | 3.251% | 3.30% | |
| 36-month Tier Mini Jumbo | 2.765% | 2.80% | |
| 48-month Tier Mini Jumbo | 2.765% | 2.80% | |
| 60-month Tier Mini Jumbo | 3.008% | 3.05% | |
| 6-month Tier Jumbo | 2.570% | 2.60% | $100,000 |
| 12-month Tier Jumbo | 3.542% | 3.60% | |
| 24-month Tier Jumbo | 3.300% | 3.35% | |
| 36-month Tier Jumbo | 2.813% | 2.85% | |
| 48-month Tier Jumbo | 2.813% | 2.85% | |
| 60-month Tier Jumbo | 3.057% | 3.10% |
Effective Date:
Rate Information
The interest rate and APY may change at any time as determined by Smart Financial Credit Union’s Board of Directors. After opening a Certificate account, the interest rate will be paid until maturity.
Compounding and Crediting
Interest will be compounded monthly and will be credited monthly and at maturity.
Minimum Balance Requirements
The minimum opening deposit requirements applicable to each Account are as follows:
Standard Certificate - $1,000
Mini Jumbo Certificate of Deposit - $50,000
Jumbo Certificate of Deposit - $100,000
Renewal Policy
At maturity, CD’s will automatically renew, unless action is taken by you.
For all accounts, you have a grace period of ten (10) calendar days after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty. At maturity, you may call the Credit Union at (713) 850-1600 to determine the rate and APY that will apply to your account if it is renewed. We reserve the right to decline a Certificate renewal. Each renewal term will be the same as the original term beginning on the maturity date unless that term was promotional or is no longer offered. If the term was promotional or is no longer offered, the new term will be disclosed on the maturity notice sent to you at least 30 days prior to maturity. The renewal term will begin on the maturity date of the certificate. The rate will be the same as we offer on new certificate of deposit accounts as of the maturity date, which has the same term, minimum balance requirements (if any), and other features as the original certificate of deposit account.
Early Withdrawal Penalty
We may impose a penalty if you withdraw any of the principal before the maturity date.
All withdrawal(s) will be subject to any required tax withholding.
Amount of Penalty. A penalty will be imposed if you withdraw any of the funds in your account within the
first six days after your account is opened. The penalty will equal seven days’ interest on your
account.
If you make partial withdrawals of principal prior to the maturity date, penalties may be imposed on the
amount of the withdrawal.
A penalty will be imposed if you redeem your certificate prior to the maturity date. The penalty will equal
all interest earned on 91-day certificates, 90 days' interest on 6-month certificates, 180 days'
interest on 12, 18 and 24 month certificates, and 270 days' interest on 30, 36, 48, and 60 month
certificates.
How the Penalty Works. The penalty is calculated as a forfeiture of part of the interest that has been or
would be earned on the account. It applies whether or not the interest has been earned. In other words, if
the account has not yet earned enough interest or if the interest has already been paid, the penalty will be
deducted from the principal.
Exceptions to Early Withdrawal Penalties. At our option, we may pay the account before maturity without
imposing an early withdrawal penalty when an account owner dies or is determined legally incompetent by a
court or other body of competent jurisdiction.
Additional Terms and Conditions
APY and promotional offers are subject to change at any time without notice. Certain restrictions may apply. If applicable, new money is defined as money that has not been on deposit at credit union during the past 30 days.
One (1) promotional CD per member.
MONEY MARKET ACCOUNT
| Minimum to Open | Minimum Balance | Interest Rate | APY | Minimum to avoid service fee |
|---|---|---|---|---|
| $2,500 | $0-2,499.99 | 0.250% on entire balance | 0.25% | $2,500 |
| $2,500.00-9,999.99 | 0.349% on entire balance | 0.35% | ||
| $10,000.00-24,999.99 | 0.499% on entire balance | 0.50% | ||
| $25,000.00-49,999.99 | 0.747% on entire balance | 0.75% | ||
| $50,000.00-99,999.99 | 1.243% on entire balance | 1.25% | ||
| $100,000+ | 1.490% on entire balance | 1.50% |
Effective Date:
Rate Information
The interest rate and APY may change at any time as determined by Smart Financial Credit Union’s Board of Directors.
Interest Compounding & Crediting
Interest will be compounded and credited monthly on the last day of the month.
Minimum Deposit and Balance Requirements
The minimum deposit required to open a Money Market account is $2,500. You must maintain a minimum daily balance of $2,500 in your account to avoid a monthly maintenance fee and to earn the stated APY. If, during any month, your account balance falls below the required minimum daily balance, your account will be subject to a monthly maintenance fee, and the interest rate will default to the interest rate paid for a checking account for that month.
Daily Balance Computation Method
Interest is calculated using the daily balance method which applies a daily periodic rate to the balance in the account each day.
Transaction Limitations
An excessive transaction fee may be charged if you exceed six (6) withdrawals for the month.
Fees
A monthly maintenance fee may be charged if your minimum daily balance falls below the $2,500 requirement. See Fee Schedule.