What you should know about interest rates:
A few years back, the US Congress passed a law called Truth-In-Savings. The law mandated the use of the term Annual Percentage Yield to describe the earnings rate on deposits at all depository institutions, including credit unions. The mandated APY formula takes into account the compounding and crediting policies of the institution. For that reason, the bottom line in comparing account rates is now the APY, which is based on a uniform formula that gives you the future value of your money.
Shares
|
Shares |
$50 - $1,999 |
0.25% |
0.25% APY |
|
|
$2,000 - $49,999 |
0.33% |
0.33% APY |
|
Share Draft |
$50,000 & over
$300 - $9,999 |
0.50%
0.10% |
0.50% APY
0.10% APY |
|
|
$10,000 and over |
0.33% |
0.33% APY |
|
IRA Shares |
|
1.00% |
1.00% APY |
|
Regular/IRA Certificates |
6 month CD |
0.65% |
0.65% APY |
|
|
1 year CD |
|
1.00% APY |
|
|
2 year CD |
|
1.35% APY |
|
|
3 year CD |
|
1.55% APY |
|
|
4 year CD |
|
1.90% APY |
|
|
5 year CD |
|
2.10% APY |
|
Money Market |
5K - 25K
25K - 50K
50K - 100K
> 100K
|
0.50%
0.75%
1.00%
1.24% |
0.50% APY
0.75% APY
1.00% APY
1.25% APY |
Loans
|
New Vehicle |
from 4.20% to 12.50% |
| Used Vehicle |
from 4.95% to 15.50% |
| Secured by Shares |
+3% |
| Secured by Share Certificate of Deposit |
+3% |
| Recreational Vehicles and Boats |
as low as 7.50% |
| Church Loans |
Please call |
| Vacation Loans |
as low as 9.50% |
| Signature Loans |
as low as 10.50% |
| Signature Loans Secured |
as low as 9.50% |
|
|
|
|
All rates are as of August 26, 2010 and are subject to change after that date.
Loan interest rates are based on credit worthiness and the terms of the loan. Please contact NWCCU for more information.
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