Hours:  Monday, Tuesday, Thursday 8:30-5:00          Wednesday 12:00 - 5:00          Friday  9:00-6:00

Home
Membership
Share Accounts
Loans
Share Rates
Fees
Newsletter
Useful Links

 

Southernmost

Federal Credit Union

1004 Kennedy Dr.

Key West, FL 33040

(305) 296-6568

Fax (305) 296-7341

Toll-Free (800) 794-8756

 

Share Rates

The rates, and terms applicable to your account at the Credit Union are provided in this Rate Schedule.  The Credit Union may offer other rates for these accounts from time to time.

Last Dividend Declaration Date: December 31, 2016

RATE SCHEDULE
  Regular Shares

 Account

Christmas Club

Account

Vacation Club

Account

IRA

Account

Share Draft (Checking)

 Account

Dividends

Dividend Rates/Annual Percentage Yield

0.50 0.50 0.50 0.50 NA
Dividends Compounded Quarterly Quarterly Quarterly Quarterly NA
Dividends Credited Quarterly Quarterly Quarterly Quarterly NA
Dividend Period Calendar Quarter Calendar Quarter Calendar Quarter Calendar Quarter Calendar Quarter
BALANCE REQUIREMENTS          
Minimum Opening Deposit $5.00 NA NA NA NA
Minimum Balance to Avoid a Service Fee NA NA NA NA $250.00
Minimum Balance to Earn the Stated APY $100.00 $100.00 $100.00 $100.00 NA
Balance Method Average Daily Balance Average Daily Balance Average Daily Balance Average Daily Balance Average Daily Balance
Account Limitations

See Section 6 below

NA Account withdrawal limitations apply Account withdrawal limitations apply  NA NA
           

TRUTH-IN-SAVINGS ACCOUNT DISCLOSURES

Except as specifically described, the following disclosures apply to all of the accounts.

1. Rate Information.  The Annual Percentage Yield is a 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 Regular Shares, Christmas Club, Vacation Club and IRS accounts, the Dividend Rate and Annual Percentage Yield may change at any time as determined by the Credit Union's Board of Directors.

2. Nature of Dividends. Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period.

3. Dividend Compounding and Crediting. The compounding and crediting of dividends and dividend period applicable to each account are set forth in the Rate Schedule.  The Dividend Period is the period of time at the end of which an account earns dividend credit.  The Dividend Rates and Annual Percentage Yields are the rates and yields as of the last dividend declaration date which is set forth in the Rate Schedule

 

4. Accrual of Dividends. For Regular Shares, Christmas Club, Vacation Club and IRA accounts, dividends will begin to accrue on noncash deposits (e.g. checks )on the business day you make the deposit to your account.  For Regular Shares, Christmas Club, Vacation Club and IRA accounts, if you close your account before accrued dividends are credited, accrued dividends will not be paid.

5. Balance Information. The minimum balance requirements applicable to each account are set forth in the Rate Schedule.  For Share Draft (Checking) accounts, there is a minimum balance required to avoid a service fee. If the minimum balance is not met, there will be a service fee as set forth in the Fee Schedule. For Regular Shares, Christmas Club, Vacation Club and IRA Accounts, there is a minimum average daily balance required to obtain the Annual Percentage Yield for the dividend period. If the minimum average daily balance is not met, you will not earn the stated Annual Percentage Yield. For Regular Shares, Christmas  Club,  Vacation Club and IRA accounts using an Average Daily Balance method, dividends are calculated by applying a periodic rate to the average daily balance in the account for the period. The daily balance is determined by adding the full amount of principal

account for each day of the period and dividing that figure by the number of days in the period.

6. Account Limitations. For Christmas Club account, the entire balance will be paid to you by check or transferred to another account of yours on or after November 1 and the account will remain open.  You may make transfers or withdrawals in first seven (7) days after the account is opened without restriction. For a Vacation Club account, the entire balance will be paid to you by check or transferred to another account of yours on or after May 1 and the account will remain open. You may make transfers or withdrawals in first seven (7) days after the account is opened without restriction. For Christmas Club and Vacation Club accounts, you may be charged  a withdrawal fee for each withdrawal from the account. For Regular Shares, IRA and Share Draft (Checking) accounts, no account imitations apply.

Copyright 2004Southernmost Federal Credit Union|  Privacy Policy  |  Site Map  |  Contact Us

 


Federally Insured by NCUA
to at least $250,000

 

To assist members in accessing information not maintained on this site, the credit union provides links to other Internet addresses. Be advised that: 1) by clicking on any link to other Internet addresses, you are leaving the credit unions web site; 2) you are linking to an alternate web site not operated by the credit union; 3) the credit union is not responsible for the content of the alternate web site; 4) the credit union does not represent either the third party or the member if the two enter into a transaction; and 5) privacy and security policies may differ from those practiced by the Credit Union