Altra’s Routing #: 291881216
Deposits

Business Money Market & Certificates

Business Indexed Money Market

The Altra Indexed Money Market will earn a 0.10% dividend rate if the balance falls below the required minimum on any given day. The dividend yield will be an indexed rate determined by the 1-year Regular Advance rate of the Federal Home Loan Bank of Chicago (FHLB) based on the last business day of the previous month and will be effective on the first day of the current month.

Indexed Money Market

Rates effective June 1, 2019; subject to change.

Minimum Balance
during the month
Dividend Rate

 

APY*

 

 $0-$249,999  0.100  0.10
 $250,000-$499,999  1.421  1.43
 $500,000-$749,999  1.618  1.63
 $750,000-$999,999  2.011  2.03
 $1,000,000-$3,000,000  2.403  2.43

*APY=Annual Percentage Yield.

Dividends are compounded monthly and paid monthly. The ending balance of the account each day is multiplied by a daily rate (rate divided by the interest base of 365 or 366 days) and then accrues / accumulates until posted. Dividends will begin to accrue on the business day you place non-cash items (for example, checks) to your account.

For the Altra Indexed Money Market accounts, Federal regulations allow up to six transfers per month.

Applies to non-individuals or entities other than an individual depositor: We may require the governing body of the organization opening the account to give us 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. Available to both Business and Retail Members.

Savings & Flexibility for your Business

Business Money Market Account and certificates offer competitive rates, pay dividends monthly, and allow unlimited deposits and in-person withdrawals. All Business Money Market Accounts can be set up as overdraft protection on your Altra Business Checking Account.

Business Money Market Rates

Rates effective June 1, 2019; subject to change.

Minimum Balance Dividend Rate APY*
$10,000-$24,999 0.40 0.40
$25,000-$74,999 0.50 0.50
$75,000-$249,999 0.60 0.60
$250, 000 & over 0.70 0.70

*APY=Annual Percentage Yield. 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 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.

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.