Share Certificate Rates
Rates effective September 11, 2023
APY = Annual Percentage Yield
Minimum Balance $1,000.00
If you are moving funds from an existing Seasons FCU Share Certificate into a Share Certificates for a higher rate, penalties from the closure of the existing Share Certificate may apply.
IRA Share Certificates (Traditional, Roth & Coverdell)
Minimum Balance $1,000.00
If you are moving funds from an existing Seasons FCU IRA Share Certificate into a IRA Share Certificates for a higher rate, penalties from the closure of the existing IRA Share Certificate may apply. Penalty does not apply to those in the Required Minimum Distributions (RMD) age.
Ready to open a Share Certificate?
A team member would be happy to help you reach your savings goals. Give us a call at (860) 346-6614 to get started today!
Our branch teams are ready to give you in-person attention to help answer any questions and open your share certificates. Stop by and see us at any location today!
Super Saver Share Certificates
Minimum Balance $250.00
|Super Saver Share Certificate Account||12 month||0.00%||0.00%|
|Super Saver Certificate IRA (Roth/Traditional/Coverdell)||12 month||0.00%||0.00%|
Saplings Share Certificates
Minimum Balance $250.00
Rates are subject to change.
1. RATE INFORMATION — The annual percentage yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. For all accounts, the dividend rate and annual percentage yield are fixed and will be in effect for the initial term of the account. For accounts subject to dividend compounding, the annual percentage yield is based on an assumption that dividends will remain on deposit until maturity. A withdrawal of dividends will reduce earnings.
2. DIVIDEND PERIOD — For each account, the dividend period is the account’s term. The dividend period begins on the first day of the term and ends on the maturity date.
3. DIVIDEND COMPOUNDING AND CREDITING — The compounding and crediting frequency of dividends are stated in the Rate Schedule.
4. BALANCE INFORMATION — To open any account, you must deposit or already have on deposit the minimum required share(s) in a Share, Saplings Savings, or Kiosk Savings account. Some accounts may have additional minimum opening deposit requirements. The minimum balance requirements applicable to each account are set forth in the Separate Rate Schedule. The Saplings Share Certificate account is available to individuals between the ages of 0-17. For accounts using the daily balance method as stated in the Rate Schedule dividends are calculated by applying a daily periodic rate to the principal in the account each day.
5. ACCRUAL OF DIVIDENDS — For all accounts, dividends will begin to accrue on non-cash deposits (e.g. checks) on the day the Credit Union receives provisional credit. For all accounts, if you close your account before accrued dividends are credited, accrued dividends will not be paid.
6. TRANSACTION LIMITATIONS — For all accounts, your ability to make deposits to your account and any limitations on such transactions are stated in the Rate Schedule. After your account is opened, you may make withdrawals of principal subject to the early withdrawal penalties stated below and your account will be closed. Withdrawals of dividends are not subject to penalty.
7. MATURITY — Your account will mature as stated on this Truth-in-Savings Disclosure or on your Account Receipt or Renewal Notice.
a. Amount of Penalty. For all accounts, the amount of the early withdrawal penalty is based on the term of your account. The penalty schedule is as follows:
- Terms of 12 months or less 90 days’ dividends
- Terms of longer than 12 months180 days’ dividends
b. How the Penalty Works. The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned on the account. It applies whether or not the dividends have been earned. In other words, if the account has not yet earned enough dividends or if the dividends have already been paid, the penalty will be deducted from the principal.
c. Exceptions to Early Withdrawal Penalties. At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances:
- (i) When an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction.
- (ii) Where the account is an Individual Retirement Account (IRA) and any portion is paid within seven (7) days after the establishment of the account; or where the account is a Keogh Plan (Keogh), provided that the depositor forfeits an amount at least equal to the simple dividends earned in the amount withdrawn; or where the account is an IRA or Keogh and the owner attains age 59 or becomes disabled.
9. RENEWAL POLICY — The renewal policy for your non Featured Share Certificate accounts is stated in the Rate Schedule. For accounts that automatically renew for another term, you have a grace period of ten (10) days after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty. The renewal policy for all Featured Share Certificates is stated in the Separate Rate Schedule.
10. NONTRANSFERABLE/NONNEGOTIABLE — Your account is nontransferable and nonnegotiable.
- Par Value of One Share $5.00
- Number of Shares Required 1