Share Rates
Share Rates
Share certificate rates effective: 11/21/2024
Rates are subject to change and are dependent upon credit rating.
| Share Savings | Rate | APY* |
|---|---|---|
| Regular Share & Club Accounts | 0.049% | 0.05% |
| Share Certificates and IRA CDs | Rate | APY* |
|---|---|---|
| 3 Months | 0.199% | 0.20% |
| 6 Months | 0.199% | 0.20% |
| 12 Months | 2.00% | 2.02% |
| Money Market Accounts | Rate | APY* |
|---|---|---|
| $0-2,499.99 Min Balance $5.00 | 0.099% | 0.10% |
| $2,500-9,999.99 Min Balance $2,500 | 0.149% | 0.15% |
| $10,000-24,999.99 Min Balance $10,000 | 0.299% | 0.20% |
| $25,000-49,999.99 Min Bal $25,000 | 0.249% | 0.25% |
| $50,000 and greater Min Balance $50,000 | 0.299% | 0.30% |
* Annual Percentage Yield.
Minimum amount to earn interest on Share Savings is $100.
Required amount to open Share Certificate is $500.
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 quarterly.
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year or less, you will forfeit an amount equal to the lesser of (a) all dividends for 90 days on the amount withdrawn, or (b) all dividends on the amount withdrawn since the date of issuance or renewal. If the qualifying period is
greater than one year, you will forfeit an amount equal to the lesser of (a) all dividends for 180 days on the amount withdrawn, or (b) all dividends on the amount withdrawn since the date of issuance or renewal (Penalties will not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.
