Terms and Conditions – High Yield Savings Account (HYSA)

Welcome to Brookfield Credit Union.

By enrolling in our High Yield Savings Account (“HYSA”) program, you agree to the following Terms and Conditions, which govern your participation in the service. Please read them carefully.

1. ELIGIBILITY

• Clients must be at least 18 years of age and legally permitted to enter into financial agreements.

• Enrollment is subject to the Bank’s verification and compliance checks.

2. ACCOUNT ENROLMENT

By registering for the HYSA program, clients acknowledge and agree to abide by these Terms and Conditions.

The HYSA program is distinct from a standard savings account and carries additional requirements and conditions as outlined herein.

3. YIELD SAVINGS SERVICE

The HYSA program is designed to provide clients with yield-based savings returns over the agreed program term.

Earnings, interest rates, and yield calculations are subject to change in accordance with market conditions and the Bank’s policies.

4. ASSET PORTFOLIO FEE

• Clients enrolled in the HYSA program are subject to an Asset Portfolio Management Fee equal to 1% of the total account balance. • This fee is applied at the end of the program term and only after:
• The client has fulfilled all program requirements; and
• Withdrawal of funds has been reviewed and approved by the Bank.

5. WITHDRAWALS

• Withdrawals are subject to the Bank’s review and approval process.
• Clients must comply with all stated requirements before funds can be released.
• The Bank reserves the right to withhold withdrawal approval in cases of non-compliance, account irregularities, or regulatory concerns.

6. COMPLIANCE AND LEGAL OBLIGATIONS

• All accounts and transactions are subject to applicable banking regulations, anti-money laundering (AML) laws, and financial reporting requirements.
• The Bank reserves the right to suspend or close accounts that violate compliance standards.

7. AMENDMENTS

• The Bank may amend or update these Terms and Conditions at any time. Clients will be notified of any material changes. Continued use of the HYSA program constitutes acceptance of the updated terms.

8. LIMITATION OF LIABILITY

• The Bank will not be liable for losses arising from market fluctuations, regulatory actions, or client non-compliance.
• Clients acknowledge that participation in yield savings carries inherent risks and accept full responsibility for their financial decisions.

9. GOVERNING LAW

• These Terms and Conditions shall be governed by and construed under the laws of United States.

Acceptance

By enrolling in the HYSA program, you confirm that you have read, understood, and agreed to these Terms and Conditions.

Accept Terms and Conditions