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Erie FCU RCA Drop (3.56%, $25K) To (3.30%APY, $25K)

Tuesday, July 2, 2013 - 8:33 AMErie Federal Credit Union - Details
The 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.
pearlbrownpearlbrown1,465 posts since
Nov 2, 2010
Rep Points: 6,373
1. Tuesday, July 2, 2013 - 8:44 AM
Thanks; 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)).
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,427
2. Tuesday, July 2, 2013 - 9:11 AM
Sometimes 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  ;)
pearlbrownpearlbrown1,465 posts since
Nov 2, 2010
Rep Points: 6,373