Saving Rates

Savings Rates

Rate Effective Date: September 18th, 2020

Savings Accounts

Rates are subject to change without notice

 Type
 Balance Requirements
APR* 
 APY**

Membership Savings Account

 $25 Minimum Balance Required

 0.10%

 0.100%

Vacation Club***

No minimum

0.60%

0.600%

Tax Savings Club***

No minimum

0.60%

0.600%

Christmas Club*** 

No minimum

 0.60%

 0.600%

*Annual Percentage Rate **Annual Percentage Yield ***Penalty for Early Withdrawal    

 

Money Market and Health Savings Accounts

Rates are subject to change without notice

Type
Balance Requirements
APR*
APY**

 Money Market Savings Tier 1

$2,500.00 to $10,000.00 

0.30%

0.300% 

 Money Market Savings Tier 2

$10,000.01 to $50,000.00

0.35%

0.350% 

 Money Market Savings Tier 3 

$50,000.01 to $75,000.00

0.40% 

0.400% 

 Money Market Savings Tier 4

$75,000.01 to $125,000 

0.60% 

0.600% 

  Money Market Savings Tier 5

$125,000.01 and over 

0.30% 

0.300% 

*Annual Percentage Rate **Annual Percentage Yield     


In order for your account to earn dividends you must have an actual balance of $2,500 or greater. Once an account falls below the minimum balance the account will be closed and is eligible to be reopened the following quarter. Dividends are accrued on the average daily balance of $2,500 or more, and are posted to the account on the last day of each month. Dividends are not paid on closed accounts. Only 4 withdrawals, transfer withdrawals included per month. Any transactions above this amount will cause the account to be closed, but will be eligible to reopened the following quarter.

The Money Market accounts are tiered rate accounts. If your average daily balance is from $2,500.00 to $9,999.99, the first dividend rate and annual percentage yield listed for this account in the Rate Schedule will apply. If your average daily balance is from $10,000.00 to $49,999.99, the second dividend rate and annual percentage yield listed for this account will apply. If your average daily balance is $50,000.00 to $74,9999.99, the third dividend rate and annual percentage yield listed for this account will apply. If your average daily balance is $75,000.00 or greater, the fourth dividend rate and annual percentage yield listed for this account will apply. Each dividend rate will apply only to that portion of the account within each balance range.

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168 E Fairmount Ave
Lakewood, NY 14750

(716) 665-7000

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