New Savings Rate

Effective January 1, 2012 the interest rates on savings in share accounts will be as follows:

New Interest Rates on Loans

Effective November 17, 2011, the interest rates on loans will be as follows:

*** Unsecured signature loans can be renegotiated after the member has paid at least 50% of the maximum value depending on the terms of the loan.

Late Fee on Loan Payments

The Board agreed to impose a $30.00 late fee on all loan accounts that are 30 days past due effective January 1, 2011.

$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.