Savings Rates
Current Rates
- Share certificate rates effective for
October 29, 2018
- Rates are subject to change
Savings (Share) Accounts
Account |
Rate |
APY* |
Savings (Share) |
0.100% |
0.10% |
Club Savings |
0.250% |
0.25% |
* Annual Percentage Yield |
Certificates—Pays Interest Monthly
Term |
Minimum |
Rate |
APY* |
3 to 5 Months |
$500 |
0.349% |
0.35% |
6 to 11 Months |
$500 |
0.747% |
0.75% |
12 Months to 23
Months |
$500 |
1.193% |
1.20% |
24 Months to 35
Months |
$500 |
1.736% |
1.75% |
36 Months to 47
Months |
$500 |
1.982% |
2.00% |
48 Months to 59
Months |
$500 |
2.227% |
2.25% |
60 Months |
$500 |
2.716% |
2.75% |
Jumbo |
$50,000 |
Add 0.15% |
|
* Annual Percentage Yield |
Money Market Account
Balance |
Rate |
APY* |
$0.00 to $2,499.99 |
0.100% |
0.10% |
$2,500.00 to $9,999.99 |
0.250% |
0.25% |
$10,000.00 to $24,999.99 |
0.399% |
0.40% |
$25,000.00 to $49,999.99 |
0.598% |
0.60% |
$50,000 + |
0.698% |
0.70% |
* 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the qualifying period is one year or less, you will forfeit an amount equal to all dividends for 90 days on the amount withdrawn.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period is greater than one year, you will forfeit an amount equal to all dividends for 180 days on the amount withdrawn.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.