Tuesday, July 2, 2013 - 8:33 AMErie Federal Credit Union -
DetailsThe change in the EFCU Dividend-Plus account was effective 7/1/13 according to a CSR. However, even with the decrease, the account at this 5-star DA-rated credit union continues to pay an attractive rate.
Heads up / reminder to those who might have only minimal activity on the account at some point: there is a $2/month service fee if all requirements are not met and as usual, the balance on deposit would earn a much lower rate.
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pearlbrown1,431 posts since
Nov 2, 2010
Rep Points: 6,248
1. Tuesday, July 2, 2013 - 8:44 AMThanks; it is a small reduction in interest rate (minimum average daily balance is $500 as before). But it dropped from the 3.5% (and above, with a decent $25K limit) club, following HEFCU -- only SWACU and NACCU are surviving members (adding maybe Home Federal with (4%, $20K)).
1
51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,426
2. Tuesday, July 2, 2013 - 9:11 AMSometimes membership/account eligibility restrictions (as in the ones you mentioned) help to keep the rate high, but economic conditions/trends and business events (mergers, such as Coppermark Bank / Prosperity Bank) may take their toll eventually. I cheer for the survivor institutions every day, even if I do not have an account there myself ;)
2
pearlbrown1,431 posts since
Nov 2, 2010
Rep Points: 6,248
