Deposit Rates

Share Savings & Share Draft Checking1

Rates effective starting: 6/1/2016
Product Minimum Balance Annual Percentage Yield Dividend Rate
Share Account (Savings) $0.00 0.10% 0.10%
Holiday & Vacation Club $0.00 0.10% 0.10%
Share Draft (Checking) $0.00 0.10% 0.10%
Health Savings Account $0.00 0.25% 0.25%
1Rates are subject to change at any time without notice.

Money Market/ IRA1

Rates effective starting: 6/1/2016
Tier Balance Annual Percentage Yield1 Dividend Rate
$0.00 to $2,499.99 (MMA IRA only) 0.10% 0.10%
$2,500 - $9,999.99 0.10% 0.10%
$10,000 - $24,999.99 0.10% 0.10%
$25,000 - $99,999.99 0.15% 0.15%
$100,000 and up 0.20% 0.20%
1Rates are subject to change without notice.

Some restrictions do apply to the Sb1 Money Market Account. Although you can make transfers to your Money Market Account in eBanking, account access is not available through ATMs or through Sb1's Bill Pay service.

Up to six (6) preauthorized, automatic, telephone transfers or withdrawals may be made from each Money Market Account to another account or to a third party in any month, and no more than six (6) transfers may be made by check, draft, or debit card to a third party. Any checks drawn on your Money Market Account must be for an amount of $250 or more. If you exceed these limitations, your account may be subject to a fee or be closed.

There is no minimum balance required to open an Sb1 Money Market Account, however to start earning interest the minimum balance is $2,500.

If you make in excess of 6 transactions per month (writing checks, transfers) or you draw checks in an amount less than $250, your account will be subject to fees. Fees could reduce the earnings on the account.

Money Market dividends are calculated monthly on your entire balance in the tier your balance falls in for that month. For example, if your balance is $15,500.00 for the first 15 days in the month, you will earn the dividend rate for tier 2 on the entire balance in the account, for 15 days. If your balance is $7,500.00 for the last 15 days of the month, you will earn the dividend rate for tier 1 on the entire balance in the account for 15 days.

Share Certificates / Individual Retirement Account (IRA)

Rates effective starting: 6/1/2016
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%
18-month Flex CD3 1.04% 1.05%
24-month Share Certificate/IRA 1.09% 1.10%
30-month Flex CD3 1.34% 1.35%
36-month Share Certificate/IRA 1.34% 1.35%
48-month Share Certificate/IRA 1.49% 1.50%
48-month JUMP Share Certificate/IRA2 1.49% 1.50%
60-month Share Certificate/IRA 1.98% 2.00%
18-month IRA Growth CD4 1.04% 1.05%
30-month IRA Growth CD4 1.34% 1.35%
1Rates are subject to change at any time without notice.
248-month JUMP Regular Share Certificate/IRA allows the member to increase the rate one time during the term of the Certificate/IRA if the Certificate/IRA rate of the same or lesser term is higher. The increase must come at the request of the member. 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.
3APY = Annual Percentage Yield. The average financial institution APY on an 18-month CD is 0.46% and 0.79% for a 30-month CD, as reported by bankrate.com, as of 2/8/16. Both the 18- and 30-month Flex CD offerings are for new money only. New money is defined as funds on deposit at Sb1 for 30 days or less or funds transferred from another financial institution. Up to 50% of the Flex CD balance may be withdrawn one time over the term of the share certificate with no penalty. Minimum deposit of $500 is required, and the maximum deposit is $1,000,000. Membership eligibility and requirements apply. Rates are effective as of 2/8/16 and may be subject to change at any time.
4IRA Growth CD is for new money only. Deposits can be added up to your IRA annual limit for IRA contributions on the IRA Growth CD.