Saving for a big expense such as a down payment on a house or car? You will find that our Monthly and Quarterly Funds accounts pay a higher interest rate than our Regular Savings, enabling you to maximize your earning potential over time. If you do not need immediate access to your savings and prefer to earn higher rates, we recommend the monthly or quarterly funds account options.
How Does It Work?
Funds accounts allow you to save your money and earn a higher dividend than Regular Savings accounts. The money you deposit to a Funds account can only be withdrawn at certain times of the month/quarter without incurring a dividend penalty. In a Funds Account withdraws are penalty free on the 1st to 5th of each month. In a High Rate Account withdraws are penalty free on the 1st to 5th of each new calendar quarter. Not sure which account is the best fit? Check out some of the benefits of these accounts below or contact us for assistance.
Featured Benefits of Funds Accounts:
- Earn more dividends than a Regular Savings Account
- Deposit anytime. Withdraw penalty free on the 1st to 5th of each month
- Penalty is equivalent to the dividends that would be earned in 7 days on the total being withdrawn
- FREE Online and Mobile Banking
- Remote Deposit Capture
- Direct Payroll and Other Recurring Deposits
- E-Statements
- FREE Professional Financial Counseling and Education
- CO-OP Shared Branching Access - Over 5,500 Office Locations Nationwide
Funds - Monthly
Average
Daily
Balance Daily
Savings Minimum
balance
to open Min. Balance
to Earn
Dividends Dividends
earned
each Dividends
paid at end
of each No penalty
withdrawal
period Withdrawal
penalty
on amount
$500 to 999
0.40% APY
$500.00
$500.00
Day
Month
1st 5 days of month
7 days dividends
$1,000 to 1,999
0.40% APY
$500.00
$500.00
Day
Month
5 days of month
7 days dividends
$2,000 to 9,999
0.40% APY
$500.00
$500.00
Day
Month
5 days of month
7 days dividends
$10,000 & more
0.40% APY
$500.00
$500.00
Day
Month
5 days of month
7 days dividends
Daily
Balance
Savings
balance
to open
to Earn
Dividends
earned
each
paid at end
of each
withdrawal
period
penalty
on amount
Featured Benefits of High Rate Accounts:
- Earn the most dividends possible and keep flexibility. No need to lock your money into a long term investment or pay high penalties if you need to withdraw a portion.
- Deposit anytime. Withdraw penalty free on the 1st to 5th of each new quarter
- Penalty is equivalent to the dividends that would be earned in 30 days on the total being withdrawn
| High Rate - Quarterly | |||||||
| Average Daily Balance | Daily Savings | Minimum balance to open | Min. Balance to Earn Dividends | Dividends earned each | Dividends paid at end of each | No penalty withdrawal period | Withdrawal penalty on amount |
| $500 to 999 | 1.50% APY | $500.00 | $500.00 | Day | Month | 1st 5 days of each qtr. | 30 days dividends |
| $1,000 to 1,999 | 1.50% APY | $500.00 | $500.00 | Day | Month | 1st 5 days of each qtr.1st 5 days of each qtr. | 30 days dividends |
| $2,000 to 9,999 | 1.50% APY | $500.00 | $500.00 | Day | Month | 1st 5 days of each qtr. | 30 days dividends |
| $10,000 & more | 1.50% APY | $500.00 | $500.00 | Day | Month | 1st 5 days of each qtr. | 30 days dividends |