Federally insured by the NCUA
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SMW 104 Federal Credit Union offers many opportunities to save and invest with a variety of Share Certificates and retirement accounts. All share accounts are insured up to $250,000 by the National Credit Union Administration (NCUA). Please contact our office regarding coverage amounts for IRA and Trust Accounts.
We offer competitive rates on our Share Certificates with terms from 3 months to 36 months. The minimum amount to open a Share Certificate is $1,000. Share Certificates with terms of 18 months to 36 months are eligible to “bump up” the rate to today’s rate one time during the current term, upon request. If you need to access the funds prior to maturity, we assess a minimal 30-day penalty.
Our Individual Retirement Accounts (IRAs) pay a competitive dividend and provide a tax-deferred source of income for your retirement years.
Our IRA Certificates combine the high yields of Share Certificates with the tax advantages of an IRA account.
Deposits can be made in cash, check, payroll deduction, direct deposit, using our Mobile Deposit App, at any CO-OP Shared Branch location, or via ATM using your SMW 104 Federal Credit Union issued ATM or Visa® Debit card.
Effective June 2023
Certificate Terms | Minimum Balance to Earn Dividend | Dividend Rate | Annual Percentage Yield (APY) |
3 Months | $1,000.00 | 0.245% | 0.250% |
6 Months | $1,000.00 | 0.645% | 0.650% |
12 Months | $1,000.00 | 0.843% | 0.850% |
Certificate Terms | Minimum Balance to Earn Dividend | Dividend Rate* | Annual Percentage Yield (APY) |
18 Months | $1,000.00 | 0.893% | 0.900% |
24 Months | $1,000.00 | 1.979% | 2.000% |
36 Months | $1,000.00 | 1.862% | 1.880% |
*The dividend rate on the Share Certificates can be increased or “Bumped Up” one time during the term of the share certificate.
The minimum term for a “Bump Up” certificate is eighteen (18) months.
Certificate Term | Balance To Earn Dividend | Dividend Rate | Annual Percentage Rate (APY) |
12 Months | $50.00 to $500.00 | 4.875% | 5.000% |
Certificate Term | Balance To Earn Dividend | Dividend Rate | Annual Percentage Rate (APY) |
12 Months | $100.00 to $1,000.00 | 4.877% | 5.000% |
Term | Minimum Amount To Earn Dividend | Dividend Rate | Annual Percentage Rate (APY) |
12 Months | $1,000.00 | 0.843% | 0.850% |
Term | Minimum Amount To Earn Dividend | Dividend Rate* | Annual Percentage Rate (APY) |
18 Months | $1,000.00 | 0.893% | 0.900% |
24 Months | $1,000.00 | 1.191% | 1.200% |
*The dividend rate on the IRA Certificates can be increased or “Bumped Up” one time during the term of the share certificate.
The minimum term for a “Bump Up” certificate is eighteen (18) months.
Certificate Term | Minimum Amount To Earn Dividend | Dividend Rate | Annual Percentage Rate (APY) |
14 Months | $1,000.00* | 3.345% | 3.400% |
*New money only.
This rate schedule states rates applicable to specified accounts and is incorporated as a part of you account agreement with SMW 104 Federal Credit Union. For purposes of this disclosure, the dividend rate and annual percentage yield stated for the term share account where offered within the most recent 7 calendar days and were accurate as of the effective date. Rates determined by the Board of Directors and subject to change without notice.
Early Withdrawal Penalty – We may impose a penalty if you withdraw any of the principal balance from your Share Certificate account before the maturity date. The penalty imposed shall be 30 days interest. Other fees may apply. Please refer to our fee schedule. However, we pay dividends up to the date of withdrawal.
