 Loans
Members that qualify for Accent II and
Accent III level rewards will receive a discount on select consumer
loans. The discount amount will be applied to the initial loan rate.
The initial loan rate is the
undiscounted rate for which you qualify at the time of the loan.
Over the life of the loan, the discount amount will adjust based on
your reward level for that review period.
At no time will the loan
rate be higher than the undiscounted rate of the loan.
Monthly payment amounts will remain
fixed throughout the life of the loan and will be based on the
initial discounted loan rate.
Loans that are eligible for the loan
discount are part of our open ended lending plan. Loans secured by
real estate, Visa credit card loans and closed end notes are not
eligible for a discount.
Loans that are initiated throughout the
review period will receive the Reward level discount that the new
relationship level warrants. All other discount eligible loans will
receive the higher reward level starting at the next review period.
|
Certificates of Deposit
Members that qualify for Accent II and
Accent III level rewards will receive a bonus rate on Certificates
of Deposit at the Credit Union. The bonus rate will be added to the
advertised rate on the selected CD at account opening.
The rate increase will apply for the
entire term of the deposit, regardless of a change in your Reward
level. New CD balances that would increase the current reward level
during a review period, will receive the higher bonus rate for the
new CD.
Example Results in Accent II Levels
|
| Loans |
January 1st Balance |
| Personal Loan |
$3,544 |
| Visa
|
$1,450 |
| Total Loan Balance
|
$4,994 |
| Deposits |
Average Daily Balance
for Previous December |
| Checking |
$850 |
| Savings
|
$2,108 |
| Total Deposit
Balance |
$2958 |
| Combined Total |
$7,952 |
|
