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 October 1, 2018
| Checking Accounts | Rate | APY | Declared & Paid |
|---|---|---|---|
| Big Country Checking
No minimum balance required to earn dividends |
0.250% | 0.250% | Monthly |
| Regular Draft Checking | 0.00% | 0.00% | Monthly |
| Savings Accounts | Rate | APY | Declared & Paid |
|---|---|---|---|
| Regular Share
$25 minimum |
0.150% | 0.150% | Quarterly
(Jan, Apr, July, Oct) |
| SAFE Savings
$25 minimum |
0.150% | 0.150% | Quarterly
(Jan, Apr, July, Oct) |
| Money Market Accounts | Rate | APY | Declared & Paid |
|---|---|---|---|
| $2,500 – $24,999.99 | 0.250% | 0.250% | Weekly (Tuesday) |
| $25,000 – $49,999.99 | 0.275% | 0.275% | Weekly (Tuesday) |
| $50,000 – $99,999.99 | 0.300% | 0.300% | Weekly (Tuesday) |
| $100,000.00 + | 0.350% | 0.351% | 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.
| Money Market Accounts | Rate | APY | Declared & Paid |
|---|---|---|---|
| 3 Month Term ($500 minimum) | 0.650% | 0.652% | Weekly (Tuesday) |
| 6 Month Term ($500 minimum) | 1.000% | 1.005% | Weekly (Tuesday) |
| 12 Month Term ($500 minimum) | 1.150% | 1.156% | Weekly (Tuesday) |
| 18 Month Term ($500 minimum) | 1.250% | 1.257% | Weekly (Tuesday) |
| 24 Month Term PLUS ($500 minimum)
One-time rate bump up option |
1.350% | 1.358% | Weekly (Tuesday) |
| 36 Month Term ($500 minimum) | 1.450% | 1.460% | Weekly (Tuesday) |
| 48 Month Term ($500 minimum) | 1.550% | 1.561% | Weekly (Tuesday) |
| 60 Month Term ($500 minimum) | 1.650% | 1.663% | Weekly (Tuesday) |
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.