Savings Rates
Current Rates
- Share rates declared for quarter beginning April 1, 2018
- Share certificate rates effective for May 2, 2018
- Rates are subject to change
Savings (Share) Accounts
| Account | Rate | APY* |
|---|---|---|
| Savings (Share) | 0.050% | 0.05% |
| Club Savings | 0.150% | 0.15% |
| * Annual Percentage Yield | ||
Certificates—Pays Interest Monthly
| Term | Minimum | Rate | APY* |
|---|---|---|---|
| 3 to 5 Months | $500 | 0.250% | 0.25% |
| 6 to 11 Months | $500 | 0.598% | 0.60% |
| 12 Months to 23 Months | $500 | 0.797% | 0.80% |
| 24 Months to 35 Months | $500 | 1.243% | 1.25% |
| 36 Months to 47 Months | $500 | 1.490% | 1.50% |
| 48 Months to 59 Months | $500 | 2.227% | 2.25% |
| 60 Months | $500 | 2.472% | 2.50% |
| Jumbo | $50,000 | Add 0.15% | |
| * Annual Percentage Yield | |||
Money Market Account
| Balance | Rate | APY* |
|---|---|---|
| $0.00 to $2,499.99 | 0.050% | 0.05% |
| $2,500.00 to $9,999.99 | 0.200% | 0.20% |
| $10,000.00 to $24,999.99 | 0.350% | 0.35% |
| $25,000.00 to $49,999.99 | 0.499% | 0.50% |
| $50,000 + | 0.599% | 0.60% |
| * Annual Percentage Yield | ||
Interest Computation for Savings Accounts
Share Dividends are calculated using the average daily balance method. This method applies a periodic rate to the average daily balance in the account each month. Dividends are credited and compounded monthly for checking accounts, and quarterly for all other accounts. Checking account maintenance/activity fees may reduce earnings.
Share Certificate Withdrawals & Penalties
Government regulations require a substantial penalty for failure to comply with share certificate requirements. Should you withdraw funds prior to maturity, the penalty will be as follows:
- If the qualifying period is one year or less, you will forfeit an amount equal to all dividends for 90 days on the amount withdrawn.
- If the qualifying period is greater than one year, you will forfeit an amount equal to all dividends for 180 days on the amount withdrawn.
- (Penalties will not be applied if withdrawal is made subsequent to the death of the primary owner of the Share Certificate.)
- Should the balance of the Share Certificate fall below the required minimum, penalties will be imposed and certificate closed.