SHARE (SAVINGS) RATES

RATES ON SAVINGS (SHARE) ACCOUNTS:  

WE  LOVE  EXCEEDING  EXPECTATIONS!

 Life as a small credit union:  many small credit unions serve employees of a company.  Other small credit unions serve those who attend a particular house of worship.  Either way, such credit unions usually benefit from free and/or subsidized operating costs, including:  

• Free/subsidized office space

• Free/subsidized/loaned  furniture & office equipment                               

• Free/subsidized communications equipment

• Free/subsidized mailings

• Free/subsidized staff 

What about Women's Southwest?  We draw our members from:

• A low-income neighborhood in Dallas;

• Non-profit feminist & women's organizations in Texas and California 

Asking our Qualifying Organizations for financial subsidies might compare to the Leukemia Society asking the Heart Association for support!  

For over three decades, folks in the credit union "industry" have been telling us, "A credit union as small as yours needs a sponsor to subsidize your expenses. Without a sponsor, you can't afford to pay your depositors anything on their accounts!"  

    For over three decades we've pinched pennies--and proven them wrong!     

    When you invest in a share (savings) account at Women's Southwest you become a co-owner.  You share our profits.  

    In good times, your account may earn more than it would from another insured financial institution.  In tougher times, it may earn the same or even less.   

How can you--and other members of Women's Southwest--make the earnings on your WS savings even  more competitive?  Here are some simple steps:

• When you need a loan, apply to Women's Southwest first:  If your loan is approved--and you make your payments when due-- the interest you' pay will help us.  How?  You'll give us a higher rate of return than we can make on insured investments.  Think of it as "socially-responsible borrowing."  When Women's Southwest earns more, we have more to share with you.  

• Steer other reliable borrowers our way.   

• Help us find ways to cut our operating costs.  Send your suggestions to our office. The staff of our Pacific Coast Branch came up with one; they asked us to close their office.  As soon as that was accomplished, our operating expenses decreased.  The very next quarter you shared the profits; your Women's Southwest FCU accounts began to earn significantly higher Annual Percentage Yields. 

Every year at the Annual Meeting you, our members, elect those who serve on our Board of Directors.  During the 3rd month of every quarter, your board members review our income and expenses. They see how much we can afford to pay to all depositors.   Then they "declare" the rates that will be paid on your regular share accounts for that quarter.  They decide, as well, the rates that you will be offered on share certificates for the following quarter. 

For the method of calculation, conditions of payment, and fees,  click on Truth-In-Savings. 

HOW TO COMPARE:  Remember: turn the amount your account earns into dollars and cents. Then SUBTRACT THE FEES.  Examples (these are hypothetical; individual circumstances & transactions will modify actual results):

• $251 AVERAGE BALANCE:  A MAJOR national bank deducts $5 every month that your balance falls below $300.  In order to fully compensate you for the fees they charge, they'd have to pay your account an APY of over 20.00%!  

            $251.00 opening balance at a major national bank

          +$      .13 earnings on savings in a year (@ $251 x 0.05%, their APY as of Sept. 2012)

            $251.13 sub-total

          - $  60.00 fees ($5/month x 12 months for balance < $300)

         = $191.13 remaining balance after one year at one of the major national banks

             $251.00 opening balance at Women's Southwest

          +$       .25 earnings on savings in a year (@ $251 x 0.10% (APY as of 09/30/12)

            $251.25 sub-total

          - $    0.00 fees (no recurring fees for balances < $300)

         = $251.25 remaining balance after one year at Women's Southwest FCU

++

• $2,500 AVERAGE BALANCE:   A MAJOR national bank deducts $10 every month that your balance falls below $2,500.          $2,500.00 opening balance at a major national bank

                         +$       1.25 earnings on savings in a year (@ $2,500 x 0.05%, their APY as of 9/28/12)

                           $2,501.25  

         -                 $  120.00 fees ($10/month x 12 months, assuming balance fell below $2,500 each month)

                        = $2,381.25 remaining balance after one year at a different major national bank

   

               $2,500.00 opening balance at Women's Southwest

            +$        5.00 earnings on savings in a year (@ $2,500 x 0.20% APY as of 09/30/12)

              $2,505.00 sub-total

            - $       0.00 fees (no recurring fees for balances < $2,500)

           = $2,505.00 remaining balance after one year at Women's Southwest

  At Women's Southwest, you need not risk the monthly minimum fee of a market rate account to enjoy good earnings.  Even if your account balance falls below $2,500 during a given quarter, you'll still earn the $2,500 rate as long you maintain an  average daily balance of $2,500 or more.  Worst case scenario? You'll earn the rate on the next lower tier while still enjoying freedom from recurring low-balance fees.

Remember:  compare fees as well as rates.  Sometimes the fees other places charge "eat up"  all that you earn! 

Dividend rates shown below for Regular Shares and Share Draft accounts were declared for:  the 3rd quarter of 2012.  They were:

• Paid into all accounts that were still open at the close of business on the last day of that quarter, 9/30/2012. 

• They were first published on this Web site on 9/28/2012. 

Dividend rates shown below for Regular Shares and Share Draft/Checking accounts were paid for the 3rd quarter of 2012.  Share Certificate rates shown below will be offered to those who take them out--or renew them-- during the 4th quarter of 2012.

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