New Savings Rate and Stock Loan

Due to the high demand for our stock loans, the credit union is extending the loan sale unitl the end of December 2010. The interest rate is 5.0%. This is a savings of 1.5% off the current rate. This loan applies to new stock loans.

In addition, the Board of Directors of the BNA Federal Credit Union approved new tiered savings accounts rates effective August 1, 2010. You'll find these rates to be very competitive with what other institutions offer.

Change in Credit Union Interest Rates on Savings

For a limited time, your BNA Federal Credit Union is offering a sale of BNA stock-secured loans. From February 1, 2010 through July 31, 2010, the interest rate on stock-secured loans will be 5.0%. This is a saving of 1.5% off of the current interest rates. This loan sale applies to new stock loans.

In addition, the Board of Directors of the BNA Federal Credit Union approved new tiered savings accounts rates effective March 1, 2010. You'll find these rates to be very competitive with what other institutions offer.

Change in Credit Union Interest Rates on Savings

At its meeting on September 24, 2009, the Board of Directors of the BNA Federal Credit Union approved new interest rates on savings in credit union share accounts.

Effective November 1, 2009, the interest rates on savings in share accounts will be as follows:

The board's decision to lower the interest rates on savings reflects the nationwide economic situation that is affecting both financial institutions and individuals. The primary sources of funding for the interest that the credit union pays on savings are interest income from loans and interest income on investments. In a period when the credit union is experiencing reduced demand for loans and earning lower interest on its investments, we must adjust the interest rate on savings accordingly.

The BNA Federal Credit Union is pleased that our new interest rates on savings are still quite competitive with other financial institutions. We look forward to being able to provide an even stronger return as investment rates and loan demand rise.

We also are pleased to remind memberst that we have ample funds available for auto loans, share-secured loans, signature loans, and stock-secured loans, also at competitive rates for qualified borrowers.

LOAN SALE OF SHARE-SECURED AND STOCK-SECURED LOANS
AUGUST AND SEPTEMBER ONLY

For a limited time, your BNA FEDERAL CREDIT UNION is offering a sale on BNA stock-secured and share-secured loans. From August 3 through September 30, 2009, the interest rate on share-secured loans will be 5.5%, and the interest rate on stock-secured loans will be 6.0%. This is a savings of one-half a percent off the current interest rates for both typed of loans.

These rates apply to new loans. They also apply to existing loans that are refinanced during the loan sale with a new loan amount that is greater of (a) at least $1,000 more than the current loan balance or (b) at least ten percent more than the current loan balance.

$250,000 Share Insurance Protection Extended to 2013

May 26, 2009, Alexandria, Va. – The Helping Families Save Their Homes Act of 2009, signed into law May 20, 2009, includes a provision extending $250,000 share insurance coverage provided by the National Credit Union Share Insurance Fund through December 31, 2013. Previously, this level of coverage was set to expire December 31, 2009. The new law also requires NCUA to use the higher $250,000 standard maximum share insurance amount when making decisions about premiums and administering insurance deposit adjustments.

NCUA will shortly update its guidance about share insurance coverage to address the provisions of the new law. Information about NCUA insurance coverage is available online via the Share Insurance Tool Kit at http://www.ncua.gov/Resources/ShareInsuranceToolkit.aspx.  

The National Credit Union Administration is the independent federal agency that regulates charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, also operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of nearly 90 million account holders in all federal credit unions and the majority of state-chartered credit unions.