Current Rates

The Union Bank Certificates of Deposit

Rates Offered as of June 13, 2008

* No Interest Compound

Product Minimum Deposit Int. Frequency in Days Annual Percentage Yield (APY)
31 Days - No Monthly Compound 2,500 31 1.51%
91 Days - No Quarterly Compound 2,500 91 2.02%
182 Days - No Semi-Annual Compound 2,500 182 3.30%
12 Month - No Annual Compound 1,000 365 3.50%
24 Month - No Annual Compound 2,500 365 4.00%
36 Month 1,000 365 3.25%
5 Year - Annual Compound 1,000 365 5.00%

* Annual Compounded Interest

Product Minimum Deposit Int. Frequency in Days Annual Percentage Yield (APY)
1 Year IRA - 365 3.50%
2 Year IRA - 365 4.00%
5 Year IRA - 365 5.00%

* No compounded interest situations constitutes check is mailed to customer or deposited in some other transferable account on a monthly basis. Compounded interest situations constitutes interest is redeposited into product offered.

Regular and Christmas Club Savings

Product Int. Frequency in Days Annual Percentage Yield (APY)
Regular Savings - Qtrly. Compound, Pd. Qtrly. 90 1.00%
Christmas Club - No Annual Compound 365 1.00%

Transaction Accounts

Product Minimum Deposit Int. Frequency in Days Annual Percentage Yield (APY)
Regular Now 1,000 30 1.00%
Insured Money Market Plus 2,000 30 1.26%

Union Rewards Checking

Product Minimum Deposit to OPEN Balances up to Annual Percentage Yield (APY)
Tier 1 50.00 25,000 5.01%
Tier 2 50.00 Greater than 25,000 1.01%
OR 50.00 All Balances, when requirements not met 0.50%

Note: Rates posted are subject to change without notice.

* Annual Percentage Yield (APY) - the yield you earn on a deposit over a year.

* The formula for calculating APY on an Excell Spreadsheet is as follows:

  • =POWER((1+(A1/B1)),B1)-1
  • A1 would equal the rate
  • B1 would equal the compounding frequency
  • Try pasting this formula into any cell on a spreadsheet other than cell A1 or B1. In cell A1 you would put the stated annual interest rate - in decimal format. For example; if the stated annual rate is 6%, you would type in ".06" in cell A1.
  • Then, you would put the number of times your interest would compound each year. For example; for daily compounding you would enter "365" in cell B1.