CHANGES TO YOUR ACCOUNT EFFECTIVE MAY 16, 2021 PLEASE REVIEW CAREFULLY
Federally Insured by NCUA
On April 1, 2021, your account(s) transitioned to Elements Financial. If you had a checking account with Indianapolis’ Newspaper Federal Credit Union (INFCU) your checking account transitioned to the Elements account named Basic Checking Account (Share Draft). Any savings accounts that you had with INFCU has transitioned to the Elements Member Savings Account, an interest-bearing account. See the table below for current rates on your Elements Member Savings Account.
Member Savings Account Current Dividend Rates
$100 – $24,999 $25,000 – $49,999 $50,000 and above
Dividend Rate 0.10% 0.15% 0.20%
Annual Percentage Yield (APY) 0.10% 0.15% 0.20%
The current dividend rate and annual percentage yield (APY) are accurate as of April 1, 2021 and may change at any time and without notice. Average daily balance of $100 is required to earn dividends. Fees may reduce earnings. No monthly maintenance fee assessed on the account.
The terms and conditions of your Elements Basic Checking and your Member Savings accounts are in the Truth-In-Savings section of the enclosed document titled Checking & Savings Accounts Term & Conditions of Your Account. Additionally, there are other deposit products offered by Elements described in this document so please reach out if a different deposit product would better serve your needs or for any additional deposit products. Completion of the transition to Elements Financial Federal Credit Union was effective April 1, 2021 from your Indianapolis’ Newspaper Federal Credit Union deposits. Your deposits will be federally insured to at least $250,000 and backed by the full faith and credit of the United States Government by the National Credit Union Share Insurance Fund (NCUSIF), which is administered by the National Credit Union Administration (NCUA). We have enclosed in this mailing copies of the Elements Account Agreement, Checking & Savings Terms and Conditions, Consumer Change in Terms, Fee Schedule, and our Privacy Policy. If you have questions regarding this communication, please contact us at customerservice@elements.org or (800) 621-2105. Sincerely, Elements Financial