Dividends

The rate on dividend paid to member share accounts is set quarterly and share draft accounts is set monthly by the Board of Directors, based on the earnings of the credit union. Refer to our Truth-in-Savings brochure (available at the credit union) for further information. Rates subject to change - effective July 1, 2011

ACCOUNT TYPE	DIVIDEND RATE	APY*
Regular Shares
Amounts Under $5,000.00	0.01%	0.01%
Amounts $5,000.00 and Over	0.01%	0.01%
Super Saver Accounts
Amounts Under $2,500.00	0.00	0.00
Amounts Under $5,000.00	0.05%	0.05%
Amounts $5,000.00 and Over	0.05%	0.05%
IRA Certificates of Deposit - 12 Months Maturity
$500.00 Minimum	0.10%	0.10%
Certificates of Deposit - Regular $1,000.00 Minumum
3 months
Not Currently Offering This Term
6 months
Not Currently Offering This Term
12 months
Not Currently Offering This Term
24 Months Through 60 Months
24 Months	NA
36 Months	NA
48 Months	NA
60 Months	NA
Christmas Club Account - paid annually	0.05%	0.05%
IRA Share Account - last quarter	0.10%	0.10%
Medical Savings Account - last quarter	0.05%	0.05%
Vacation Club Account - last quarter	0.05%	0.05%
*APY=Annual percentage yield. Rates are subject to change. Fees may reduce earnings on all accounts. Please contact a credit union representative to confirm rates. Early withdrawal penalties may apply to all certificates of deposit.

 

Reporting to the government Your credit union is required by law to report to both state and federal governments on the amount of dividends paid to its members. Each member receives a copy of the form sent to the government if he/she received over $10.00 in dividends for that year. Credit union dividends are classes by the IRS, the same as interest, and should be included in your income tax report as interest earned*. The interest on loans that you pay the credit union is an allowable deduction, and should be included in your income tax report as interest costs*. *Please consult a tax advisor for more information.