Deposit Rates

Deposit Insurance Coverage

Sometimes members may have questions about how they can best maximize coverage under the National Credit Union Administration (NCUA) rules. We can personally give you information about the coverage, and we can refer you straight to NCUA resources as well. Click and visit the NCUA website, or call the NCUA Consumer Assistance Center. The Center is open 8am-6pm (EDT) at 1-800-755-1030 (press 1 for share insurance questions).

Rates change with market conditions and may change without notice.

Effective Date: 06/01/2013

Current Share Certificate Rates
Term of Deposit Minimum $ Balance Req'd Annual Percentage Rate (APR) Annual Percentage Yield (APY)
6 months 500.00 0.10% 0.10%
7 months 500.00 0.10% 0.10%
11 months 500.00 0.15% 0.15%
12 months 500.00 0.15% 0.15%
13 months 500.00 0.20% 0.20%
18 months 500.00 0.20% 0.20%
24 months 500.00 0.35% 0.35%
27 months 500.00 0.37% 0.37%
30 months 500.00 0.38% 0.38%
36 months 500.00 0.40% 0.40%
37 months 500.00 0.50% 0.50%
47 months 500.00 0.60% 0.60%
48 months 500.00 0.60% 0.60%
59 months 500.00 0.75% 0.75%
60 months 500.00 0.75% 0.75%
Your current share certificate rates are shown both as an Annual Percentage Rate (APR) first and as an Annual Percentage Yield (APY). There is a low minimum balance of $500 required unless otherwise noted, and there is a substantial penalty for early withdrawal.
Other Rates
Account APY
Regular Shares 0.05%
Share Draft 0.02%
Christmas Club 0.25%
IRA Share 0.10%
Current Money Market Account Rates
Account Balance APY
$ 0.00 - 2,499.99 balance 0.02% APR/APY
$2,500.00 - 9,999.99 balance 0.05%
$10,000.00 - 24,999.99 balance 0.05%
$25,000.00 - 49,999.99 balance 0.05%
Balance of $50,000.00 or more 0.05%
(The interest rates paid on the MMA may vary based on the daily balance and the rate is set by the credit union, using the Federal Funds target rate as a base. Minimum balance of $2500 to earn the MMA rates.  Limit of six check withdrawals per calendar month, then $20 fee for any additional withdrawal.)

The National Credit Union Administration (NCUA) is the federal agency that administers the National Credit Union Share Insurance Fund (NCUSIF). The NCUSIF, like the FDIC’s Deposit Insurance Fund, is a federal insurance fund backed by the full faith and credit of the U.S. Government.

The NCUSIF insures member savings in federally insured credit unions, which account for approximately 98 percent of all credit unions. All federal credit unions and the vast majority of state-chartered credit unions are covered by NCUSIF insurance protection. 

Credit unions that are insured by NCUSIF must prominently display the official NCUA insurance sign. No credit union may terminate its federal insurance without first notifying its members. 

Here are some important facts to remember about your share insurance provided by the NCUSIF:

Not one penny of insured savings has ever been lost by a member of a federally insured credit union.

As a member of a federally insured credit union, you do not pay directly for your share insurance protection. Your credit union places a deposit into the NCUSIF and pays an insurance assessment based on the total amount of insured shares and deposits in the credit union. Federally insured credit unions are required to deposit and maintain one percent of their insured shares and deposits in the NCUSIF.

Share accounts in federally insured credit unions are insured up to the Standard Maximum Share Insurance Amount (SMSIA), $250,000 as of October 3, 2008. The Emergency Economic Stabilization Act of 2008 increased the insurance coverage on all accounts up to $250,000 until December 31, 2013.

You may obtain additional separate coverage on multiple accounts, but only if you have different ownership interests or rights in different types of accounts and you properly complete account forms and applications. For example, if you have a regular share account and an Individual Retirement Account (IRA) at the same credit union, the regular share account is insured up to $250,000 and the IRA is separately insured up to $250,000. However, if you have a regular share account, a share certificate, and a share draft account, all in your own name, you will not have additional coverage. Those accounts will be added together and insured up to $250,000 as your individual account. Additionally, shares denominated in foreign currencies are insured as outlined in NCUA Rules and Regulations.

Coverdell Education Saving Accounts, formerly education IRAs, are insured as irrevocable trust accounts and will be added to a member’s other irrevocable trust accounts and insured up to the SMSIA. Roth IRAs will be added together with traditional IRAs and insured up to $250,000.

Additional coverage is available on revocable trust or payable on death accounts on a per beneficiary basis. A co-owner’s interest in all joint accounts in the same credit union will be added together and insured up to the SMSIA.

The federal insurance fund has several programs to help insured credit unions which may be experiencing problems. Liquidations or failures are a last resort. If a federally insured credit union does fail; however, the NCUSIF will make any necessary payouts to the credit union’s members. These payouts are usually done within 3 days from the time the credit union closes its doors.