Dividend Rate Information. The Dividend Rate and Annual Percentage Yield on your account is provided to you on an accompanying receipt at the time your Certificate/IRA Certificate account is opened. The Annual Percentage Yield (APY) is a percentage rate reflecting the total amount of dividends paid on an account, based on the Dividend Rate and the frequency of compounding. The APY is calculated by assuming that the funds, including the dividends, will remain in the account untouched for a full year.
Dividend Rate Information. The method by which dividends are paid, the dividend rate and the annual percentage yield are set forth in the Rate Schedule. The rates stated on the Rate Schedule at account opening will be paid until the first maturity date. The annual percentage yield is the percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. For current rate information, please call SAFE Federal Credit Union at 803.469.8600. The annual percentage yield is based on an assumption that dividends will remain on deposit until maturity. Withdrawal of dividends will reduce earnings. Nature of Dividends. Dividends are paid from current income and are dependent on available earnings after required transfers to reserves at the end of the dividend period. The dividend rate is determined by the SAFE Federal Credit Union’s Board of Directors and SAFE Federal Credit Union reserves the right to change dividend rates at any time. Dividend Period. For each account, the dividend period is the account’s term. The dividend period begins on the first day of the term and ends on the maturity date. Maturity Date. The maturity date for each certificate is stated on the share certificate. Balance Computation Method. Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day. Dividend Compounding and Crediting. Dividends will be compounded in each account as set forth in the Rate Schedule. Dividends for all share certificates are credited monthly. You may choose to have dividends paid to you or to another account or suffix rather than credited to this share certificate account. If you close your share certificate before dividends are credited, accrued dividends will be paid. Accrual of Dividends. For all accounts, dividends begin to accrue on the business day you deposit cash or non-cash items (for example, checks) to your share certificate, regardless of the availability of funds. Minimum Balance Requirements. The minimum deposit required to open and maintain each share certificate is stated in the Rate Schedule. You must maintain these minimum balances in your account each day to obtain the annual percentage yield applicable to your account.
Dividend Rate Information. The Dividend Rate and Annual Percentage Yield, applicable for each balance tier, on your account are set forth in the Rate Schedule and Fee Schedule. The Annual Percentage Yield (APY) is a percentage rate reflecting the total amount of dividends paid on an account, based on the Dividend Rate and the frequency of compounding. The APY is calculated by assuming that the funds remain in the account untouched for a full year. A fee may lower the APY. End- of-Day balances will earn different daily Dividend Rates, depending on the applicable tier. The lower stated dividend rate will be paid on the portion of your daily balance that is less than $20,000. The higher stated rate will be paid on the portion of your daily balance that is equal to or greater than $20,000.
Dividend Rate Information. The Dividend Rate and Annual Percentage Yield, applicable for each balance tier, on your account are set forth in the Rate Schedule and Fee Schedule. The Annual Percentage Yield (APY) is a percentage rate reflecting the total amount of dividends paid on an account, based on the Dividend Rate and the frequency of compounding. The APY is calculated by assuming that the funds remain in the account untouched for a full year. A fee may lower the APY. End-of-Day balances will be broken into tiers and each tier will earn a different daily Dividend Rate. The tiers are as follows: 1st $50,000, 2nd $50,000, next $150,000, next $250,000 and higher. For example, if your end of day balance is $155,000, the first $50,000 will earn the lowest rate, the 2nd $50,000 will earn the next highest rate, and the remaining $55,000 will earn the next highest rate.
Dividend Rate Information. The Act Number 255 of October 28th, 2002, authorizes Cooperative to distribute the earnings though the payment of dividends and thought the reimbursement of interest based upon sponsorship. The Cooperative does not guaranty the payment of dividends during a specified operation period. By 2022 the dividend rate was 1.62%. The dividends will be paid once declared by the Cooperative with the previous recommendation by the Board of Directors. The dividends are paid from the current earnings of the Cooperative and available after the corresponding transfers to the reserve accounts of the Cooperative. The dividends will be paid as long as your account maintains the required balance. By regulation, it is required to subscribe a minimum of six (6) shares of $10.00 each, for a total of $60.00 per year. communication related with the Account, when the depositor does not indicate the number assigned to the Account.
