At Sb1, we call our savings accounts "Shares" because the deposit you make to maintain a relationship with Sb1 represents an individual share of the Credit Union. Each of our members owns an individual share of the Credit Union.
This might seem like a small detail, but this philosophy leads to larger payouts because unlike a bank that has a first priority of paying external stockholders a profit - Sb1's priorities of paying shareholders and members is aligned since they're the same group. Therefore we convert any profits we do create into keeping your savings rates as high as possible along with keeping loan rates competitive and charging you fewer fees.
At Sb1 FCU, we have a full variety of options to cover all your savings needs with the best possible rates.
A full range of terms is available to meet your investment plans. All Share Certificates are compounded monthly and are insured for protection.
|Share Certificates Minimum Balance $500||Dividend Rate||Annual Percentage Yield1|
|3-month Share Certificate/IRA||0.20%||0.20%|
|6-month Share Certificate/IRA||0.30%||0.30%|
|12-month Share Certificate/IRA||0.50%||0.50%|
|24-month Share Certificate/IRA||1.00%||1.00%|
|36-month Share Certificate/IRA||1.00%||1.00%|
|48-month Share Certificate/IRA||1.14%||1.15%|
|48-month JUMP Share Certificate/IRA2||1.14%||1.15%|
|60-month Share Certificate/IRA||1.19%||1.20%|
|1Rates are subject to change at any time without notice.
248-month JUMP Regular Share Certificate/IRA requires a $10,000 minimum deposit, Jumbo requires a $99,000 minimum deposit. There may be a penalty for early withdrawal.
Dividends are calculated by the daily balance method, which applies a daily periodic rate to the principal in the account each day. Dividends are be compounded monthly and are credited monthly. All Certificate dividend rates are fixed for the term of the Certificate. The Annual Percentage Yield is based on the assumption that dividends will remain on deposit until maturity. Premature withdrawal will reduce earnings. There may be a penalty for early withdrawal. Any fee imposed may reduce the earnings on your account.
The dividend rates and Annual Percentage Yields may change at any time at the discretion of the Sb1 Federal Credit Union Board of Directors. The Credit Union reserves the right to require members to give, in writing, not more than 60 days notice of intention to withdraw the whole or any part of the amounts so paid in by them except for those amounts paid into Share Draft/Checking Accounts.