Deposit Account Rates

Effective 09/01/2014  and subject to change.  APY= Annual Percentage Yield. For additional information regarding rates and terms on Progressions Credit Union deposit accounts, please call 535-0191 or 1-800-828-8691 between 8 a.m. and 6 p.m.

  

Basic Savings and Sub Savings

Minimum to Open and Earn APY

Compounding and Crediting Dividend Period and Balance Method

APY

$50.00 ($5.00 for sub savings

Quarterly/Quarterly Quarterly/Actual Daily Balance

.10%

$2,000.00

Quarterly/Quarterly Quarterly/Actual Daily Balance

.10%

$5,000.00

Quarterly/Quarterly Quarterly/Actual Daily Balance

.10%

$10,000.00

Quarterly/Quarterly Quarterly/Actual Daily Balance

.10%

$25,000.00

Quarterly/Quarterly Quarterly/Actual Daily Balance

.10%

$50,000.00

Quarterly/Quarterly Quarterly/Actual Daily Balance

.10%

$100,000.00

Quarterly/Quarterly Quarterly/Actual Daily Balance

.10%

Basic savings has a $5.00 monthly service fee if balance falls below $200.00 unless designated as a SmartChoice Rewards or Yes!  Savings Account or you have and use any other product or service with Progressions (Savings, Checking, Credit Card, Loan, Smartlink or Smartline). Truth In Savings Disclosure

Yes! Savings Account 

Minimum to Open and Earn APY

Compounding and Crediting

Dividend Period and Balance Method

APY

$5.00 to open. Earn this rate up to $2,000.00 (over $2000.00, reverts to basic savings rates)

Quarterly/Quarterly

Quarterly/Actual Daily Balance

1.00%

Learn more about the YES! Savings Account.  There is no service fee for this account. Truth In Savings Disclosure 

Money Market Account “Smart Market” 

Minimum to Open and Earn APY

Compounding and Crediting

Dividend Period and Balance Method

APY

$2,000.00

Monthly/Monthly

Monthly/Actual Daily Balance

.15%

$5,000.00

Monthly/Monthly

Monthly/Actual Daily Balance

.15%

$10,000.00

Monthly/Monthly

Monthly/Actual Daily Balance

.20%

$25,000.00

Monthly/Monthly

Monthly/Actual Daily Balance

.20%

$50,000.00

Monthly/Monthly

Monthly/Actual Daily Balance

.30%

$100,000.00

Monthly/Monthly

Monthly/Actual Daily Balance

.30%

Truth In Savings Disclosure            There is no service fee for this account.

 

Prime Savings Account

Minimum to Open and Earn APY

Compounding and Crediting

Dividend Period and Balance Method

APY

$25,000.00

Monthly/Monthly

Monthly/Actual Daily Balance

.15%

$100,000.00

Monthly/Monthly

Monthly/Actual Daily Balance

.25%

Truth In Savings Disclosure        This account has no service fee.

Youth Account “Jr. Stamper”

Minimum to Open and Earn APY

Compounding and Crediting

Dividend Period and Balance Method

APY

$5.00

Quarterly/Quarterly

Quarterly/Actual Daily Balance

.10%

Truth In Savings Disclosure         This account has no service fee.

Individual Retirement Account (IRA)

Minimum to Open and Earn APY

Compounding and Crediting

Dividend Period and Balance Method

APY

$5.00

Quarterly/Quarterly

Quarterly/Actual Daily Balance

.15%

(1% on Yes!)

$2,000.00

Quarterly/Quarterly

Quarterly/Actual Daily Balance

.15%

$5,000.00

Quarterly/Quarterly

Quarterly/Actual Daily Balance

.15%

$10,000.00

Quarterly/Quarterly

Quarterly/Actual Daily Balance

.20%

$25,000.00

Quarterly/Quarterly

Quarterly/Actual Daily Balance

.20%

$50,000.00

Quarterly/Quarterly

Quarterly/Actual Daily Balance

.30%

$100,000.00

Quarterly/Quarterly

Quarterly/Actual Daily Balance

.30%

Account which allows you to earn .80% APR until you reach $2,000.00 then reverts to the basic rates as outlined above.  Truth In Savings Disclosure

Certificate Accounts & IRA Accounts

Minimum to Open and Earn APY

6 Month APY 12 Month APY 18 Month APY 24 Month APY

36 Month APY

$2,000.00

.25%

.35% .40% .70%

.95%

$5,000.00

.25%

.35% .40% .70%

.95%

$10,000.00

.30%

.35% .40% .75%

.95%

$25,000.00

.30%

.35% .40% .80%

.95%

$50,000.00

.35%

.40% .45% .85%

1.00%

$100,000.00

.35%

.45% .50% .90%

1.10%

Compounding and Crediting:  Dividends are compounded and credited monthly; additional deposits are not allowed; withdrawals are not allowed (except dividends) and renew automatically.Special Step-up Feature for 36 Month Term Certificates and Certificates with at least a $25,000.00 minimum balance: You will have a one-time option to adjust your APY to the then prevailing Progressions APY for new certificates of identical terms. Your certificate’s original maturity date will not change.Early Withdrawal Penalty: Early withdrawal penalties apply. Fees could reduce earnings.  For accounts up to 18 months the amount of the early withdrawal penalty is 60 days of dividends whether earned or not.  For accounts 18 months and more the early withdrawal penalty is 120 days dividends whether earned or not.Truth in Savings Disclosure

 

Prime Checking Account

Minimum to Open and Earn APY

Compounding and Crediting

Dividend Period and Balance Method

APY

$10,000.00*

Monthly/Monthly

Monthly/Actual Daily Balance

.25%

*Must also have a Prime Savings Account.Truth in Savings Disclosure