Rates |
RatesEmerald Group Credit Union offers its membership great rates on both deposit and loan services. Maximize your rate by using as many of our outstanding services as possible. You may be eligible for up to a 0.50% discount on many loan products and up to a 0.10% premium on share certificates. See our Emerald Status eligibility criteria. Club Account rates are tiered and pay a higher rate on larger balances. The rates on lending products are based on credit and employment history, value of security and income levels.
LOANS:
Home equity line of credit is a variable rate: may adjust semi annually to the prime rate plus/minus any margin. Pledged shares rate is 3% above the rate which the collateral is earning. Emerald Discount: Up to 0.50% off base APR* is subtracted SHARE (SAVINGS) ACCOUNTS / CLUB ACCOUNTS / MONEY MARKET ACCOUNTS:
Share Savings & Club Accounts: Compounding and crediting: Dividends will be compounded every quarter. Dividends will be credited to your account every quarter. If you close your account before dividends are paid, you will not receive the accrued dividends. Minimum balance requirements: You must maintain a minimum average daily balance of $500.00 in your share savings and/or club account to obtain the disclosed percentage yield. Average daily balance computation method: Dividends are calculated by the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is the quarterly statement cycle. Money Market Accounts: Compounding and crediting: Dividends will be compounded every quarter. Dividends will be credited to your account every quarter. If you close your account before dividends are paid, you will not receive the accrued dividends. Minimum balance requirements: The minimum balance required to open this account is $2,000.00. You must maintain a minimum average daily balance of $2,000.00 in your account to obtain the disclosed annual percentage yield. Average daily balance computation method: Dividends are calculated by the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is the quarterly statement cycle. Withdrawal restrictions: Minimum withdrawal amount is $500.00 ($10 fee for less). Maximum of five (5) withdrawals per quarter ($10 fee when exceeded). IRA & SHARE CERTIFICATES:
Effect of closing an account: If you close your account before dividends are paid, you will not receive the accrued dividends up to 180 days. Daily balance computation method: Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the amount each day. Transaction limitations: After the account is opened, you may not make additions to the account until the maturity date stated on the account. You may make withdrawals of principle from your account before maturity. Principle withdrawn before maturity is included in the amount subject to early withdrawal penalty. You cannot withdraw dividends from your account before maturity. Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity) The penalty we may impose is the greater of: seven days dividends, on the amount withdrawn subject to penalty, if the withdrawal is made within the first six days after the deposit , or all dividends that have been earned up to 180 days. In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. (See your plan disclosure if this account is part of an IRA or other tax qualified plan.) You will have a grace period of ten calendar days after maturity to withdraw the funds without being charged an early withdrawal penalty. Click HERE for a printable Rate Sheet. All rates are subject to change. *APR = Annual Percentage Rate **APY = Annual Percentage Yield |
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