Suffolk VA City Employees Federal Credit Union
Rate and Fee Schedule
Rates are subject to change as determined by the Credit Union's Board of Directors.
Dividends are paid quarterly.
| Account Type | Minimum Balance to Open Account | Minimum Balance to Obtain APY | Dividend Rate | Annual Percentage Yield (APY) |
|---|---|---|---|---|
| Share Account | $ 25.00 | $ 100.00 | 0.75% | 0.75% |
| Children's Share Account | $ 5.00 | $ 25.00 | 0.75% | 0.75% |
| Individual Retirement Account | $ 25.00 | $ 100.00 | 2.00% | 2.02% |
| Term | Minimum Balance to Open Account | Minimum Balance to Obtain APY | Dividend Rate | Annual Percentage Yield (APY) |
|---|---|---|---|---|
| 6 month | $ 500.00 | $ 500.00 | 2.50% | 2.52% |
| $ 1,000.00 | $ 1,000.00 | 2.75% | 2.78% | |
| $ 2,500.00 | $ 2,500.00 | 3.00% | 3.03% | |
| 12 month | $ 1,000.00 | $ 1,000.00 | 3.00% | 3.03% |
| $ 5,000.00 | $ 5,000.00 | 3.25% | 3.29% | |
| $ 10,000.00 | $ 10,000.00 | 3.50% | 3.55% | |
| 24 month | $ 1,000.00 | $ 1,000.00 | 3.50% | 3.55% |
| $ 5,000.00 | $ 5,000.00 | 3.75% | 3.80% | |
| $ 10,000.00 | $ 10,000.00 | 4.00% | 4.06% | |
| 36 month | $ 1,000.00 | $ 1,000.00 | 4.00% | 4.06% |
| $ 5,000.00 | $ 5,000.00 | 4.25% | 4.32% | |
| $ 10,000.00 | $ 10,000.00 | 4.50% | 4.58% | |
| 60 month | $ 1,000.00 | $ 1,000.00 | 4.50% | 4.58% |
| $ 5,000.00 | $ 5,000.00 | 4.75% | 4.84% | |
| $ 10,000.00 | $ 10,000.00 | 5.00% | 5.09% |
* Early Withdrawal Penalties Apply
| Loan Type | Annual Percentage Rate (APR) ** |
|---|---|
| Share Secured | 3.00% above share or share certificate dividend rate |
| Partially-Secured | as low as 7.25% |
| New Vehicle | as low as 4.25% |
| Used Vehicle | as low as 5.25% |
| Signature ($5,000 maximum) | as low as 8.00% |
| 90-Day Note | as low as 8.00% |
| Pay Day ($300 minimum/$500 maximum) | 18.00% |
** APR based upon individual creditworthiness
| Fee Type | Amount |
|---|---|
| ACH Return Fee | $ 30.00 |
| Statement Copy Fee | $ 5.00 |
| Stop Payment Charge | $ 30.00 |
| Loan Application Fee | $ 10.00 |
| Return Deposit Item Charge | $ 30.00 |
| Early Withdrawal Fee (Christmas and Vacation Club Accounts) | $ 25.00 |
| Excessive Withdrawal Fee (6 withdrawals allowed per calendar month, fee per excess withdrawal) | $5.00 |
| Inactive Account Fee (per quarter for balances under $1,000 after 12 months no member-generated account activity) | $5.00 |
| Return Mail Fee (per piece of mail received) | $10.00 |
| Account Closed Fee (within first 90 days opened) | $25.00 |
| Reopen Account Fee (within 6 months of closing) | $25.00 |
| Account Research Fee (fee per hour) | $35.00 |
| Wire Transfer Fee | $10.00 |
| Gift Card Purchase | $2.50 per card |
| CUMoney Card Purchase (Reloadable Prepaid Debit Card) | $8.00 per card |
| Loan Late Charge | 5 % of loan payment after 7 days delinquent |
