Rates

Effective Date - June 1, 2014

With approved credit. Rates may increase depending on individual credit history. Rates subject to change without notice. See the Credit Union for details.

SHARE TYPES

Account TypeMinimum
Dividend Earning
Amount
Dividend
Rate
APY*Stipulations
Regular Shares$25-$999.99.05.05Minimum $5 to open an account
Regular Shares$1,000-4,999.99.10.10Minimum $5 to open an account
Regular Shares$5,000-24,999.99.15.15Minimum $5 to open an account
Regular Shares$25,000+.20.20Minimum $5 to open an account
PMA$2500-14,999.99.20.20See disclosure for additional information
PMA$15,000-$29,999.99.25.25See disclosure for additional information
PMA$30,000-$74,999.99.28.28See disclosure for additional information
PMA$75,000 +.30.30See disclosure for additional information
Kirby Kangaroo Club$25-$999.99.05.05Minimum $5 to open an account
Kirby Kangaroo Club$1,000-4,999.99.10.10Minimum $5 to open an account
Kirby Kangaroo Club$5,000-24,999.99.15.15Minimum $5 to open an account
Kirby Kangaroo Club$25,000+.20.20Minimum $5 to open an account
IRA (Traditional, Roth)$25 +.95.95Minimum $5 to open an account
ESA (Coverdell)$25 +1.201.21Minimum $5 to open an account
Christmas Club$25 +.20.20Minimum $5 to open an account
Vacation Club$25-$999.99.05.05Minimum $5 to open an account
Vacation Club$1,000-4,999.99.10.10Minimum $5 to open an account
Vacation Club$5,000-24,999.99.15.15Minimum $5 to open an account
Vacation Club$25,000+.20.20Minimum $5 to open an account


Truth-in-Savings Disclosures

Except as specifically described, the following disclosures apply to all accounts. All accounts are share accounts.

1. Rate Information
The Annual Percentage Yield (APY) is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. For all accounts, the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Omaha Police Federal Credit Union’s Board of Directors. The Dividend Rates and Annual Percentage Yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period. The Regular Shares, Kirby Kangaroo Club, Vacation Club and Preferred Market Account (PMA) are Tiered Rate accounts. The Preferred Market Account rate is determined by the last 4 weeks average of 13 and 26 week T-Bill rates. If your account balance is $2,499.99 or below, the first Dividend Rate and Annual Percentage Yield listed for this account in the Rate Schedule apply. If your account balance is $2,500.00- $24,999.99, the second Dividend Rate and Annual Percentage Yield listed for this account will apply. If your account balance is $25,000.00 or greater, the third Dividend Rate and Annual Percentage Yield listed for this account will apply. Once a particular balance range is met, the Dividend Rate and Annual Percentage Yield for that balance range will apply to the full balance of your account.

2. Nature of Dividends
Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period. The Dividend Rate and Annual Percentage Yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period.

3. Dividend Compounding and Crediting
The compounding and crediting of dividends and dividend period applicable to each account are set forth in the Rate Schedule. The Dividend Period is the period of time at the end of which an accounts earns dividend credit. The Dividend Period begins on the first calendar day of the period and ends on the last calendar day of the period.

4. Accrual of Dividends
For all accounts, if you close your account before accrued dividends are credited, accrued dividends will not be paid.

5. Balance Information
The minimum balance requirements applicable to each account are set forth in the Rate Schedule. For all accounts, there is a minimum average daily balance required to obtain the Annual Percentage Yield for the dividend period. If the minimum Average Daily Balance is not met, you will not earn the state Annual Percentage Yield. For all accounts using an Average Daily Balance method, dividends are calculated by applying a periodic rate to the average daily balance in the account for the period. The Average Daily Balance is determined by adding the full amount of principal in the account for each day of the period and dividing that figure by the number of days in the period.

6. Account Limitations
For all Share accounts which includes Kirby Kangaroo Club, Vacation Club and Christmas Club accounts, no more than six (6) preauthorized, automatic, or telephone transfers may be made from these accounts to another account of yours or to a third party in any month, and no more than three (3) of these six (6) transfers may be made by check, draft, or debit card to a third party. If you exceed these limitations, your account may be subject to a fee or be closed. PMA cannot be used as security for a loan. The Credit Union will not automatically transfer from this account to cover negative balances in other accounts (i.e., share drafts, share accounts.) This account is not covered by Credit Union pay life insurance. For IRA Share and Share Draft accounts, no account limitations apply.


SHARE CERTIFICATE RATES

TermAmountDividend RateAPY*
6-11 Months$2500 +0.250.25
12 Months$2500 +0.350.35
24 Months$2500 +0.700.70
36 Months$2500 +1.141.15
48 Months$2500 +1.391.40
12-Months
Save to Win
$25 +.45.45

Certificate rates and yields are based on a quarterly dividend.
*APY = Annual Percentage Yield


Effective Date - April 16, 2014

The following rates are quoted "AS LOW AS". They may not apply to every borrower. The rate will never be higher than the maximum allowed by law. *APR = Annual Percentage Rate

 

MORTGAGES

Loan TypeTermAPR*
15 or 30 Year Mortgage15 or 30 YearsCall for current rates
First Lien0-60 Months2.00%
First Lien61-120 Months2.75%
First Lien121-180 Months3.00%
Second Mortgage
(up to 90% equity)
0-60 Months2.00%
Second Mortgage
(up to 90% equity)
61-120 Months2.75%
Second Mortgage
(up to 90% equity)
121-180 Months3.00%
Second Mortgage
(100% equity)
0-60 Months4.00%
Second Mortgage
(100% equity)
61-120 Months5.00%
Second Mortgage
(100% equity)
121-180 Months6.00%


LAND

TermAPR
1-5 Years7.75%
5-10 Years8.25%


Requires Appraisal, Title Insurance/Search, Flood Determination, Filing Fees, Real Estate Loan Payoff Quote Fee, Compilation of Verification of Loan Fee, and Origination Fees

MOBILE HOMES (must have 20% down)

TermAPR
1-5 Years10.00%
5-10 Years10.50%
10-15 Years11.50%


AUTOS - NEW & USED
(2010-New)

TermAPR
5 Years or less1.75%
6 Years or less2.50%
7 years or less4.50%


AUTOS - USED
(2007-2009)

TermAPR
Up to 5 Years. One year exception to term on loans over 15K only.3.50%


AUTOS - USED
(2006 & Older)

TermAPR
Up to 4 years
(subject to qualifications)
4.50%


Fees: Nebraska Title Fee $10.00, Lien Fee $7.00 - Iowa $15.00
SHARE & CD SECURED

APR
3.50% over share rate
(Discounts for RBL do not apply)


SIGNATURE

APR
10.25%


SHARE DRAFT/LINE OF CREDIT

APR
18.00%
(Discounts for RBL do not apply)


For other fees, please contact the Credit Union
CREDIT CARD RATES

Credit CardRate
VISA Platinum8.99% to 18.00%
MasterCard Gold9.99%