Effective October 1, 2017 through December 31, 2017
Dividends are calculated by the average daily balance method, which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period. Dividends are paid on your shares from the day you make a deposit until the day of withdrawal based on the average daily balance. You must maintain a minimum average daily balance of $50.00 in your account to obtain the disclosed annual percentage yield. Balances below the minimum amount will neither accrue nor be paid dividends with the exception of members under the age of 18.
Dividends are available to the owner(s) of the account anytime after they are paid or upon closing the account. Dividends are paid quarterly on the last day of March, June, September and December.
|Average daily share balance ranges|
|From||To||Rate||Bonus||4th QTR rate with bonus dividend|
|$50.00||$4,999.99||0.10% APY*||0.33% APY*||0.43% APY*|
|$5,000.00||$24,999.99||0.25% APY*||0.33% APY*||0.58% APY*|
|$25,000.00||$49,999.99||0.41% APY*||0.33% APY*||0.74% APY*|
|$50,000.00||or above||0.65% APY*||0.33% APY*||0.98% APY*|
The dividend rate and annual percentage yield may change every quarter as determined by the credit union board of directors. There is no penalty for withdrawal of funds. Dividends are paid up to the date of withdrawal.
*APY = Annual Percentage Yield
The Annual Percentage Rate (APR) and the Annual Percentage Yield (APY) is subject to change. You must maintain the stated minimum balance to obtain the APY. Interest begins to accrue on the day of deposit for both cash and non-cash (checks) deposits. Dividends are paid quarterly, on the last day of the quarter. Account withdrawals, penalties, or fees may reduce earnings and the stated APY.