Savings Account Rates
For Savings accounts, the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union.
Nature of Dividends
The Dividend Rate and Annual Percentage Yield are the prospective rates that the Credit Union anticipates paying for the applicable dividend period. Dividends are calculated by the average daily balance method. Dividends are calculated
by applying a periodic rate to the average daily balance in the account for the Dividend Period. For dividend bearing accounts, the Dividend Period begins on the first calendar day of the dividend period and ends on the last calendar day of the dividend
Accrual of Dividends/Interest
Dividends will begin to accrue on non-cash deposits (e.g. checks) on the business day your deposit is credited to your account. Dividends will be compounded and credited quarterly. If you close your account before accrued dividends are credited, accrued
dividends will not be paid.
No minimum balance is required to open a savings account.
Commercial Savings Accounts
There is a Minimum daily balance requirement of $100 to avoid a monthly maintenance fee. In the event you do not maintain the minimum required balance, you may not earn dividends.
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