DIVIDENDS
Communities of Abilene Federal Credit Union uses the Daily Balance Method to compute dividends. Using this method, dividends are calculated by applying a daily periodic rate to the balance in the account each day. You must maintain the minimum daily balances listed to obtain the disclosed annual percentage yields (APY). A withdrawal of principal or dividends will reduce earnings. Fees may reduce account earnings.
Your savings are Federally insured to $250,000 by the National Credit Union Administration, a U.S. Government Agency. Individual Retirement Accounts (IRAs) are federally insured up to $250,000.
Dividend Rates as of September 1st, 2020
| Checking Accounts | Rate | APY | Declared & Paid |
|---|---|---|---|
| Big Country Checking
No minimum balance required to earn dividends |
0.200% | 0.200% | Monthly |
| Regular Draft Checking | 0.00% | 0.00% | Monthly |
| Savings Accounts | Rate | APY | Declared & Paid |
|---|---|---|---|
| Regular Share
$25 minimum |
0.100% | 0.100% | Quarterly
(Jan, Apr, July, Oct) |
| SAFE Savings
$25 minimum |
0.100% | 0.100% | Quarterly
(Jan, Apr, July, Oct) |
| Money Market Accounts | Rate | APY | Declared & Paid |
|---|---|---|---|
| $2,500 – $24,999.99 | 0.200% | 0.200% | Weekly (Tuesday) |
| $25,000 – $49,999.99 | 0.225% | 0.225% | Weekly (Tuesday) |
| $50,000 – $99,999.99 | 0.250% | 0.250% | Weekly (Tuesday) |
| $100,000.00 + | 0.300% | 0.300% | Weekly (Tuesday) |
| Individual Retirement Account (IRA) | Rate | APY | Declared & Paid |
|---|---|---|---|
| $1.00 – $24,999.99 | 0.500% | 0.501% | Monthly |
| $25,000 – $49,999.99 | 0.550% | 0.551% | Monthly |
| $50,000 – $99,999.99 | 0.600% | 0.602% | Monthly |
| $100,000.00 + | 0.650% | 0.652% | Monthly |
$500 minimum and maintained balance to earn dividends. All paid monthly. A penalty may be imposed for withdrawals before maturity.
| Certificates* | Dividend Rate** | APY | Declared (All Paid Monthly) |
|---|---|---|---|
| 3 Month Term ($500 minimum) | 0.100% | 0.100% | Monthly |
| 6 Month Term ($500 minimum) | 0.150% | 0.150% | Monthly |
| 12 Month Term ($500 minimum) | 0.200% | 0.200% | Monthly |
| 18 Month Term ($500 minimum) | 0.250% | 0.250% | Monthly |
| 24 Month Term PLUS ($500 minimum)
***One-time rate bump up option |
0.300% | 0.300% | Monthly |
| 36 Month Term ($500 minimum) | 0.350% | 0.351% | Monthly |
| 48 Month Term ($500 minimum) | 0.400% | 0.401% | Monthly |
| 60 Month Term ($500 minimum) | 0.450% | 0.451% | Monthly |
* All Certificate Products available as IRA
**A penalty may be imposed for withdrawals before maturity
***Plus certificates have a onetime rate bump up feature
APY (Annual Percentage Yield) is accurate as of 2/1/2019. Fees may reduce earnings on an account.
Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period and are not guaranteed. Dividends are determined at the discretion of the Credit Union and may change at any time.
We use the Daily Balance Method to compute all dividends. Using this method, dividends are calculated by applying a daily periodic rate to the balance in the account each day.
You must maintain the minimum daily balances listed to obtain the disclosed annual percentage yields. A withdrawal of principal or dividends will reduce earnings.