Locations  |  ATMs  |  Careers  |  Contact  |  Home           

Online Banking

 

 

 

 

 

About Us  >  Rates  >  Business Rates

Business Rates & Disclosure

Business Rates effective November 5, 2013; subject to change.

 

Business Accounts - Rates

Type of Account

Minimum Balance

Dividend
% Rate

Annual
% Yield

Business Regular Savings

$5.00 0.100 0.10

Business
Money Market Account

$10,000-$24,999
$25,000-$74,999
$75,000 & over
0.399
0.499
0.598

0.40
0.50
0.60

Business Edge (checking)

$5,000-$9,999
$10,000-$19,999
$20,000 & over

0.050
0.100
0.150

0.05
0.10
0.15

 

Account Disclosure

A penalty may be imposed for withdrawals made before maturity from all Certificates. All Business MMA and Business High Rate Savings earn a 0.10% dividend rate with a 0.10% APY if the balance falls below the required minimum. The dividend rate and annual percentage yield may change at any time at the credit union's discretion. Savings federally insured by NCUA to $250,000 with IRA Savings insured separately for an additional $250,000. Based on account ownership, you may be eligible for more insurance coverage on your savings. Contact Altra for complete details.

Business Basic Savings – Dividends compounded quarterly and paid quarterly. The Dividend Period is quarterly. Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day. Dividends will begin to accrue on the business day you place non-cash items (for example, checks) to your account.

Business Money Market Account – Dividends compounded monthly and paid monthly. The dividend period is monthly. Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day. Dividends will begin to accrue on the business day you place non-cash items (for example, checks) to your account. Account earns 0.10% APY if balance falls below required amount.

Business Edge – Dividends are compounded monthly and paid monthly. The dividend period is monthly. Dividends are calculated by the daily balance method which applies a daily periodic rate to the collected balance, above $5,000, in the account each day. Dividends will begin to accrue on the business day the items are assumed collected in your account. If the balance drops below $5,000, the account will not be paid a dividend for that day, but will not lose the dividends earned for the entire month.

For Money Market and Savings accounts, Federal regulations allow up to six transfers a month. We may require the governing body of the organization opening the account to give us a separate authorization telling us who is authorized to act on its behalf. We will honor the authorization until we actually receive written notice of a change from the governing body of the organization. We may require separate documentation to open an organization account. If you close your account before dividends are paid, you will not receive the accrued dividends. Please read Altra's Account Disclosure and Agreement that may also apply to organizational accounts.