{"id":6866,"date":"2025-12-05T16:18:25","date_gmt":"2025-12-05T22:18:25","guid":{"rendered":"https:\/\/stpaulfcu.org\/?page_id=6866"},"modified":"2025-12-19T15:33:34","modified_gmt":"2025-12-19T21:33:34","slug":"wincentive-savings-account-disclosure","status":"publish","type":"page","link":"https:\/\/stpaulfcu.org\/wincentive-savings-account-disclosure\/","title":{"rendered":"WINcentive Savings Account Disclosure"},"content":{"rendered":"\n
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Last Updated:<\/p>\n\n\n\n

January 25, 2025<\/p>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n

WINcentive Savings Account Disclosure<\/strong><\/strong><\/strong><\/h1>\n\n\n\n

Terms and Conditions<\/strong><\/strong><\/h2>\n\n\n\n

General Account Information<\/u><\/strong>
A WINcentive\u2122 savings account (WSA) is a restricted savings account which permits unlimited deposits but otherwise limits withdrawals in order to promote a minimum 12 month saving period. Opening an account requires an initial minimum deposit of $5. Account holders may make additional deposits in any denomination from time to time, and for each $25 increase in month-over-month savings, an account holder receives an entry into a prize drawing, subject to additional terms and conditions set out in the Member Participation Agreement, as well as further limitations and exceptions set out in this disclosure. Each account holder is limited to one WSA per participating credit union. An account holder may have an interest in having more than one account as a joint account holder, but may not be listed as the primary account holder on more than one account.

Rate information<\/u><\/strong>
The dividend rate for this account is determined at the discretion of the board of directors. The dividend rate and annual percentage yield may change at any time.

Nature of dividends<\/u><\/strong>
Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.

Compounding frequency<\/u><\/strong>
Dividends will be compounded monthly.

Crediting frequency<\/u><\/strong>
Dividends will be credited into this account monthly.

Dividend period<\/u><\/strong>
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 same as the ending date of a dividend period, and for the example above is January 31.

Effect of closing an account<\/u><\/strong>
If you close your account before dividends are paid, you will not receive the accrued dividends.

Daily balance computation method<\/u><\/strong>
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 noncash deposits<\/u><\/strong>
Dividends will begin to accrue on the business day you place noncash items (for example, checks) into your account.

Minimum balance to obtain the disclosed annual percentage yield<\/strong><\/u><\/strong>
You must maintain a minimum daily balance of $1.00 in your account each day to obtain the disclosed annual percentage yield.

Addition limitations<\/u><\/strong>
You may make an unlimited number of additions into your account.

Early withdrawal & associated penalties<\/u><\/strong>
During the initial twelve (12) month savings period, and during each twelve (12) month savings period thereafter, account holder will be permitted a maximum of two (2) withdrawals in order to maintain participation in a WSA account. An account holder must pay the following penalties for withdrawal: first withdrawal will assess $10 penalty, and a second withdrawal will assess a $25 penalty. If a 3rd withdrawal is performed within any twelve (12) month savings period, the account will be closed without penalty, and the account holder is prohibited from opening another WSA for a period of 90 days. An account holder, at his\/her\/their option, may also close the account at any time, without penalty. Closing the account will result in the forfeiture of prize entries as otherwise enumerated in the terms and conditions set out in the Member
Participation Agreement.

Exceptions<\/u><\/strong>
At our option, we may pay the account at any time without imposing an early withdrawal penalty when an account holder dies, transfers residency outside the state of Minnesota, is determined legally incompetent by a court, is no longer considered a member in good standing, or otherwise is found by credit union to be in violation of the Member Participation Agreement or credit union\u2019s Membership and Account Agreement.

Transaction limitations<\/u><\/strong>
Additional periodic deposits are permitted at any time while the WSA continues to be offered by credit union. For every $25 increase in month-over-month balance, the account holder will earn one entry (up to: 4 entries per month\/12 entries per quarter\/48 entries per 12 month period) to be entered into any eligible state-wide prize drawing. Account holder is limited to a total of two (2) withdrawals with associated penalties as otherwise set out in this disclosure, and if a 3rd withdrawal is performed within any twelve (12) month savings period, the account will be closed without penalty.

St. Paul Federal Credit Union Member-Only Drawing<\/u><\/strong>
For the St. Paul Federal Credit Union member-only drawing, for every $25 increase in month-over-month balance, the account holder will additionally earn one entry (up to: 4 entries per month\/12 entries per quarter\/48 entries per 12 month period) into the member-only drawing.

End of Savings Period<\/u><\/strong>
This account type will automatically renew at the end of the initial twelve (12) month savings period, with the stated dividend rate and corresponding APY continuing after that time, unless you are otherwise notified of a rate change as required by law. At the end of the twelve (12) month savings period, account holder has thirty (30) days within which to do the following, penalty-free: roll over some or all of the funds into a certificate of deposit or other savings product offered by the credit union or otherwise withdrawal some or all of the saved funds. Any roll-over balance that remains in the account for a subsequent twelve (12) month savings period will be treated as a new deposit for\u00a0 eligibility into subsequent applicable prize pools.

Subsequent disclosures<\/u><\/strong>
This disclosure may be updated from time to time, and if it is updated, account holder will receive a notice of updated disclosure as well as the effective date of the updates as required by law.

Account closure<\/u><\/strong>
If account holder withdrawals all funds from the account prior to the date that dividend is credited (or dividends are issued), or if account is otherwise closed due to one of the exceptions noted within this disclosure, the account holder agrees to forfeit all accrued but uncredited dividend (or dividends). Account holder may withdraw all funds, and close the account, at any time, without penalty.

Par value of a share<\/u><\/strong>
The par value of a share is $5.00.

Bylaw requirements<\/u><\/strong>
You must complete payment of one share(s) into your savings account(s) as a condition of admission to membership. If you do not complete payment of at least one share(s) into your savings account(s) within ninety days of admission to membership, then you may be terminated from membership at the end of the dividend period in which the time elapses. If the balance in your savings account(s) falls below the par value of one share and you do not increase the balance to at least that amount within 90 days of the reduction, you may be terminated from membership immediately. If the balance in your share savings account falls below $5.00, you will be considered an inactive member and will not be eligible for member services as long as the balance remains below $5.00. If the balance in your share savings account falls below $5.00, you may be terminated from membership within 90 days. No member may withdraw shareholdings that are pledged as required on security on loans without the written approval of the credit committee or a loan officer, except to the extent that such shares exceed the member’s total primary and contingent liability to the Credit Union. No member may withdraw any shareholding below the amount of his or her primary or contingent liability to the Credit Union if he\/she is delinquent as a borrower, or if borrowers for whom he\/she is comaker, endorser, or guarantor are delinquent, without the written approval of the credit committee or loan officer.

National Credit Union Administration<\/u><\/strong>
This credit union is federally insured by the National Credit Union Administration.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Last Updated: January 25, 2025 WINcentive Savings Account Disclosure Terms and Conditions General Account Information A WINcentive\u2122 savings account (WSA) is a restricted savings account which permits unlimited deposits but otherwise limits withdrawals in order to promote a minimum 12 month saving period. Opening an account requires an initial minimum deposit of $5. Account holders […]<\/p>\n","protected":false},"author":25,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-6866","page","type-page","status-publish","hentry"],"yoast_head":"\nWINcentive Savings Account Disclosure - St. Paul Federal Credit Union<\/title>\n<meta name=\"description\" content=\"On this page you'll find the complete terms and conditions of the St. Paul Federal Credit Union WINcentive Savings Account Disclosure\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/stpaulfcu.org\/wincentive-savings-account-disclosure\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WINcentive Savings Account Disclosure\" \/>\n<meta property=\"og:description\" content=\"On this page you'll find the complete terms and conditions of the St. Paul Federal Credit Union WINcentive Savings Account Disclosure\" \/>\n<meta property=\"og:url\" content=\"https:\/\/stpaulfcu.org\/wincentive-savings-account-disclosure\/\" \/>\n<meta property=\"og:site_name\" content=\"St. Paul Federal Credit Union\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/stpaulfcu.org\/\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-19T21:33:34+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@StPaulFCU\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/stpaulfcu.org\\\/wincentive-savings-account-disclosure\\\/\",\"url\":\"https:\\\/\\\/stpaulfcu.org\\\/wincentive-savings-account-disclosure\\\/\",\"name\":\"WINcentive Savings Account Disclosure - 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