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:
What about Women's Southwest? We draw our members from:
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:
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):
$251.00 opening balance at a major national bank
+$ .13 earnings on savings in a year (@ $251 x 0.05%, their APY as of Sept. 2012)
- $ 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)
- $ 0.00 fees (no recurring fees for balances < $300)
= $251.25 remaining balance after one year at Women's Southwest FCU
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:
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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