Rates

First Class American Credit Union offers great rates and flexible terms on our loans. FCACU bases most consumer loan rates on the term of your loan and your credit history.

If you are thinking about a credit card or loan, either to purchase a car, buy a home or for some other purpose, but don’t think you qualify, contact FCACU first. We will help build a loan that is right for you at a fair rate of interest. If we cannot make you a loan, we will tell you why and discuss options with you to help get your credit in good shape. Don’t fall victim to lenders who take advantage of borrowers with minor credit problems.

Contact us today to find out about our First Class Loan Rates!

Contact Us!

For more information on FCACU’s other rates, click on the categories below:

Regular Share, Christmas Club and Money Market Savings


Declaration Date: December 1, 2016 Interest rates on these accounts are variable rate.
TYPE OF ACCOUNT
MINIMUM BALANCE TO EARN APY
RATE
APY
Regular Shares Account

$100

.15%

.150%

Christmas Club Savings

$100

.15%

.150%

Money Market Savings
Less than $2,500
$2,500-$9,999
$10,000-$24,999
$25,000-$49,999
$50,000 and above
 .15%
 .30%
 .30%
 .30%
 .35%
.150%
.300%
.300%
.300%
.351%
**RATES SUBJECT TO CHANGE WITHOUT NOTICE**

Checking Accounts

CHECKING ACCOUNTS
Dividend Declaration Date: December 1, 2016
Checking Accounts are variable rate accounts

 

First Class

Limited CU SUCCEED           FRESH START
INTEREST       N/A  N/A N/A N/A    
INTEREST COMPOUND       N/A N/A N/A

N/A

   
INTEREST CREDITED      N/A N/A N/A

N/A

   
INTEREST PERIOD       N/A N/A N/A

N/A

   

CASH BACK REWARDS

   .05/per POS Transaction

N/A

N/A

N/A

                

MINIMUM TO OPEN

      $25.00

$25.00

$25.00

$25.00

   

MINIMUM BALANCE TO AVOID SERVICE FEE

      N/A

Direct Deposit Required ($400/mon)             

N/A

N/A

   

MONTHLY SERVICE FEE

     $6.00/$5.00

N/A

N/A

$10.00

   

MINIMUM BALANCE TO EARN DIVIDEND

     N/A

N/A

N/A

N/A

   

BALANCE METHOD

      N/A

N/A

N/A

N/A

   
 E-STATEMENTS    FREE        REQUIRED FREE FREE           
 PAPER STATEMENTS      $5.00 mon   $5.00 mon             FREE            $5.00 mon         

 

TRUTH IN SAVINGS ACCOUNT DISCLOSURES

 

Except as specifically described, the following disclosures apply to all of the accounts. All accounts describe in this schedule are checking accounts.

See our Fee Schedule for all fees that apply to accounts

    1. Rate Information. The Annual Percentage Yield, (APY) is a percentage rate that reflects the total amount of interest to be paid on an account based on the interest rate and frequency of compounding for an annual period. For all accounts, the Interest Rate and Annual Percentage Yield may change monthly as determined by the Credit Union?s Board of Directors. The Interest Rate and Annual Percentage Yield are the prospective rates and yields that the Credit Union anticipates paying for the applicable interest period. The interest rate is calculated on the average daily balance method.
    2. Nature of Interest. Interest is paid from current income and available earnings after required transfers to reserves at the end of the interest period.
    3. Interest Compounding and Crediting. The compounding and crediting of interest and interest period applicable to each account is set forth in the Rate Schedule. The Interest Period is the period of time at the end of which an account earns interest credit. The Interest Period begins on the first calendar day of the period and ends on the last calendar day of the period.
    4. Accrual of Interest. For all accounts, interest will begin to accrue on non-cash deposits (e.g. checks) on the business day you make the deposit to your account. For all accounts, if you close your account before accrued interest is credited, accrued interest will not be paid.
    5. Cash Back Rewards: Cash Back Rewards are paid each time you use your debit card for a Point of Sale (POS) Transaction. (Signature Transaction) 

*Paper statement fee does not apply to those age 0 to 17 or those 70 years or older.  E-statements are a requirement of the Limited Checking.

Certificate of Deposit

CERTIFICATE OF DEPOSIT ACCOUNTS
Dividend Declaration Date: February 9, 2017

TERM  $1,000
RATE      
ANNUAL
PERCENTAGE
YIELD
$50,000
RATE      
ANNUAL
PERCENTAGE
YIELD
6 months
(182 Days)
  .60%   .602%   .65%   .652%
1 Year
(365 Days)
  .90%   .904%   .95%   .954%
18 Months
(547 Days)
 1.00%  1.005%  1.05%  1.055%
2 Years
(730 Days)
 1.10%  1.106%  1.15%
 1.156%
30 Month
(912 Days)
 1.20%  1.207%  1.25%  1.257%
3 Years
(1095 Days)
 1.30%  1.308%  1.35%  1.358%
4 Years
(1460 Days)
 1.55%  1.561%  1.60%  1.612%

The rates appearing in this Rate Schedule are accurate and effective for deposit accounts as of the date indicated at the top. If you have any questions or require current rate information on your accounts, please call the Credit Union.

                                               TRUTH IN SAVINGS ACCOUNT DISCLOSURES

Certificate of Deposit accounts may be established in $1,000.00 and $50,0000.00 minimums. Interest is compounded and credited monthly, unless otherwise stated. The interest period for each certificate of deposit account is based on the maturity as stated on the Certificate of Deposit. No withdrawals or deposits are allowed once the certificate of deposit account has been established. Certificate of Deposit Accounts are automatically renewed, unless otherwise noted, or the Credit Union receives notice from you to not renew the certificate of deposit.

  • Rate Information. The Interest Rate and the Annual Percentage Yield on your accounts are set forth above. The Annual Percentage Yield is a percentage rate that reflects the total compounding for an annual period. For Certificate of Deposit Accounts, the Interest Rate and Annual Percentage Yield are fixed and will be in effect for the term of the account. The Annual Percentage Yield is based on an assumption that interest will remain on deposit until maturity. A withdrawal will reduce earnings.
  • Compounding and Crediting. Interest will be compounded and credited as set forth above. The Interest Period for each account is set forth above. The Interest Period begins on the first calendar day of the Interest Period and ends on the last day of the Interest Period.
  • Balance Information. The minimum balance required to open each account is set forth above. Interest is calculated by the Daily Balance method, which applies a daily periodic rate to the principal in the account each day.
  • Accrual of Interest. Interest will begin to accrue on cash deposits and non-cash deposits (e.g. checks) on the business day you make the deposit to your account. If you close your account before accrued interest is credited, accrued interest will not be paid.
  • Maturity. Your account will mature within the term or at the maturity date set forth on your Account Receipt or Renewal Notice.
  • Early Withdrawal Penalty. We may impose a penalty if you withdraw any of the principal before the maturity date, or the renewal date, if this is a renewal account.
  • Amount of Penalty. A SUBSTANTIAL PENALTY IS IMPOSED FOR EARLY WITHDRAWAL. For Certificate of Deposits accounts with maturities of less than six (6) months from the date of issuance, the penalty is 1% of the principle balance.  For Certificate of Deposit accounts with maturities six (6) months to one year, from the date of issuance, the penalty is 2% of the principle balance.  For Certificates of Deposit accounts greater than one year, from the date of issuance, the penalty is 3% of the principle balance.
  • How the Penalty Works. The Penalty is calculated as a percentage of the balance depending on the term of the Certificate of Deposit. It applies whether or not the interest has been earned. In other words, if the account has not yet earned enough interest or if the interest has already been paid, the penalty will be deducted from the principle.
  • Exceptions to Early Withdrawal Penalty. At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following Circumstances: When an account owner dies or is determined legally incompetent by a court order or other body of competent jurisdiction.
  • Renewal Policy. Your account is an automatically renewable account, if indicated on the Account Receipt or Renewal Notice. You will have a 10-day grace period to change the terms or cancel the certificate of deposit.
  • Nontransferable/Nonnegotiable. Your account is nontransferable and nonnegotiable. The funds in your account may not be pledged to secure any obligation of an owner, except obligations with the Credit Union.

*RATES SUBJECT TO CHANGE WITHOUT NOTICE*

Individual Retirement Accounts

INDIVIDUAL RETIREMENT ACCOUNTS (IRA)

 

IRA SHARES
Declaration Date:  February 9, 2017 Interest rates on Individual Retirement Share Accounts (IRA)
are variable rate accounts
IRA Shares Rate APY
Less than $2500 .15% .150%
$2500 – $9,999 .25% .250%
$10,000 – $24,999 .50% .501%
$25,000 – $49,999 .50% .501%
$50,000 and above .55% .551%

 

TRUTH -IN- SAVINGS
ACCOUNT DISCLOSURES

Minimum balance to open an IRA Share account is $25.00. IRA’s are tax deferred shares with the interest calculated, compounded and paid monthly, based on the average daily balance. Interest is credited on the last day of the month. A SUBSTANTIAL TAX PENALTY IS IMPOSED FOR EARLY WITHDRAWAL.

  • Rate Information: The Interest Rate and Annual Percentage Yield on your account is set forth above. The Annual Percentage Yield (APY) is a percentage rate that reflects the total amount of interest to be paid on an account based on the interest rate and frequency of compounding for an annual period. The Interest Rate and Annual Percentage Yield may change monthly as determined by the Credit Union Board of Directors.
  • Nature of Interest: Interest is paid from current income available earnings after required transfers at the end of the interest period. The Interest Rate and APY are the rates and yields as of the last interest declaration date.
  • Compounding and Crediting: Interest will be compounded and credited as described above. The interest period for each account is described above. The interest period begins on the first calendar day of the period and ends on the last calendar day of the period.
  • Accrual of Interest: Interest will begin to accrue on cash deposits on the business day you make the deposit to your account. Interest will begin to accrue on non-cash deposits (e.g. checks) on the business day you make the deposit to your account. If you close your account before the accrued interest is credited, accrued interest will not be paid.
  • Balance Information: The minimum balance required to open each account is set forth above. For accounts using the Average Daily balance method, dividends are calculated by adding the balance in the account for each day and dividing by the number of days in the period.
  • Account Limitations: A SUBSTANTIAL TAX PENALTY IS IMPOSED FOR EARLY WITHDRAWAL.

***The rates appearing in this Rate Schedule are accurate and effective for deposit accounts as of the date indicated at the top. If you have any questions or require current rate information on your accounts, please call the Credit Union.

             

IRA CERTIFICATE OF DEPOSIT
Declaration Date: February 9, 2017

 

 

TERM  $1,000
RATE      
ANNUAL
PERCENTAGE
YIELD
$50,000
RATE      
ANNUAL
PERCENTAGE
YIELD
6 months
(182 Days)
  .70%   .702%    .75%   .753%
1 Year
(365 Days)
 1.00%   1.005%  1.05%  1.055%
18 Months
(547 Days)
 1.10%   1.106%  1.15%  1.156%
2 Years
(730 Days)
 1.20%   1.207%  1.25%
 1.257%
30 Month
(912 Days)
 1.25%   1.257%
 1.30%  1.308%
3 Years
(1095 Days)
 1.30%  1.308%  1.35%  1.358%
4 Years
(1460 Days)
 1.55%  1.561%  1.60%  1.612%

 

TRUTH IN SAVINGS ACCOUNT DISCLOSURE
IRA CERTIFICATE OF DEPOSITS


IRA Certificate of Deposits may be established in $1,000 and $50,000 minimums. Interest is compounded and credited monthly, unless otherwise stated. The interest rate period for each IRA Certificate of Deposit is based on the maturity as stated on the IRA Certificate of Deposit. No withdrawals or deposits are allowed once the IRA Certificate of Deposit account has been established. IRA Certificate of Deposit accounts are automatically renewed, unless otherwise noted, or the Credit Union receives notice from you to not renew the IRA Certificate of Deposit.

 

  • Rate Information: The Interest Rate and Annual Percentage Yield on your accounts are set forth above. The Annual Percentage Yield is a percentage rate that reflects the total amount of interest to be paid on an account based on the dividend rate and frequency of compounding for an annual period. For IRA Certificate of Deposits, the Interest Rate and Annual Percentage Yield are fixed and will be in effect for the term of the account. The Annual Percentage Yield is based on an assumption that interest will remain on deposit until maturity. A withdrawal will reduce earnings.
  • Compounding and Crediting: Interest will be compounded and credited as set forth above. The Interest Period for each account is set forth above.
  • Balance Information: The minimum balance required to open each account is set forth above. Interest is calculated by the Daily Balance method, which applies a daily periodic rate to the principal in the account each day.
  • Accrual of Interest: Interest will begin to accrue on cash deposits and non-cash deposits (e.g. checks) on the business day you make the deposit to your account.
  • Maturity: Your account will mature within the term or at the maturity date set forth above or the maturity date set forth on your account receipt, or renewal notice.
  • Early Withdrawal Penalty: We may impose a penalty if you withdraw any of the principal balance before the maturity date, if this is a renewal account.
  • Amount of Penalty: A SUBSTANTIAL PENALTY IS IMPOSED FOR EARLY WITHDRAWAL. For IRA Certificate of Deposit accounts with maturities of  less than six (6) months from the date of issuance, the penalty is 1% of the principle balance.  For IRA Certificate of Deposits accounts with maturities six (6) months to one year, from the date of issuance, the penalty is 2% of the principle balance .  For IRA Certificates of Deposit accounts greater than one year, from the date of issuance, the penalty is 3% of the principle balance.
  • How the Penalty Works: The penalty is calculated as a percentage of the balance depending on the term of the IRA Certificate of Deposit.  The penalty may result in a forfeiture of interest that has been, or would be earned on the account. It applies whether or not the interest has been earned. In other words, if the account has not yet earned enough interest or if the interest has already been paid, the penalty will be deducted from the principle.
  • Exceptions to Early Withdrawal Penalties: At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstance: When an account owner dies.
  • Renewal Policy: Your account is an automatic renewal account, if indicated on the Account Receipt or Renewal Notice. You will have a 10 day grace period to change the terms or cancel the Certificate of Deposit.
  • Nontransferable/Nonnegotiable: Your account is nontransferable and nonnegotiable. The funds in your account may not be pledged to secure any obligation.

                                 **RATES SUBJECT TO CHANGE WITHOUT NOTICE**

Auto Loans

As low as+

2.15%APR

Credit Cards

As low as+

8.50%APR

Home Equity

As low as+

5.20%APR

Certificates

As high as+

1.60%APY

Checking

As high as+

0.10%APY