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Ocean Communities FCU Dropping Kasasa Cash Rate From 3.51 To 3.01, Kasasa Savings Rate From 1.76 To 1.25 Effective 2/1/2011

Friday, January 7, 2011 - 12:25 PMOcean Communities Federal Credit Union - Details
1/7/2011 10:07:43 AM 

IMPORTANT NOTICE TO OUR KASASA ACCOUNT HOLDERS

As you know, market interest rates for both loans and deposits are continuing at extremely low levels and, according to the Federal Reserve Open Market Committee, will likely remain at current levels for an extended period.

While still committed to offering some of the best deposit rates in the market, we are compelled to respond to conditions that are, unfortunately, out of our control. As a result, effective February 1, 2011, we will be changing some of our Kasasa rates. We are making these changes only after performing an extensive review of deposit rates being offered both locally and nationally and ensuring that the new Kasasa rates remain among the best in the market.

Effective February 1, 2011, our Kasasa rates will be the following:

Kasasa™ Cash
Balance
Rate
APY*

Qualifying Accounts
<= $10,000.00
2.97%
3.01%

Qualifying Accounts
> $10,000
0.50%
0.50%

Non-Qualifying Accounts
All Balances
0.05%
0.05%


Kasasa™ Saver
Balance
Rate
APY*

Qualifying Accounts
<= $50,000.00
1.24%
1.25%

Qualifying Accounts
> $50,000
0.50%
0.50%

Non-Qualifying Accounts
All Balances
0.05%
0.05%


*APY is Annual Percentage Yield

The qualifications for earning these rates will remain the same, and your Kasasa accounts will continue to be free of any monthly service charges. Qualifying accounts will also continue to receive nationwide ATM fee refunds.

If you have any questions, please feel free to visit us at any of our branch locations or call us at (800) 418-1486.



Thank you for your continued support of Ocean Communities!


Ocean Communities Federal Credit Union, Member NCUA, Equal Housing Lender
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mainedepositmainedeposit4 posts since
Jan 7, 2011
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