Easy and Convenient Setup
Any savings account can be set up for automatic deposits and most can be used for overdraft protection.
A $5 minimum balance is required in a Regular savings account or a Business savings account for all Altra members; this is your ownership share in the Credit Union. This account pays dividends quarterly.
Business Regular Savings Rates
Rates effective January 1, 2021; subject to change.
|Minimum Balance||Dividend Rate||APY*|
*APY=Annual Percentage Yield. A penalty may be imposed for withdrawals made before maturity from all Certificates. 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. Rates subject to change. 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.
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.
Your savings at Altra are federally insured to $250,000 with IRA accounts insured separately for an additional $250,000. The National Credit Union Share Insurance Fund (NCUSIF), is a federal fund backed by the full faith and credit of the United States government.