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HEW Federal Credit Union RatesIndividual Retirement AccountsRates effective October 1, 2013| Account Type | APR | APY | Term | Min. Deposit | Min. Addtl. Deposit | Min. Balance | Comments | | | Traditional / Roth IRA / Coverdell Education Savings Variable Rate Share | .50% | .50% | N/A | None | None | None | Balances of less than $3,500.00 | | .75% | .75% | N/A | None | None | None | Balances of $3,500.00 and over | | | Traditional / Roth IRA Certificate | 1.00% | 1.00% | 12 Months | $500.00 | $25.00 | $500.00 | | | 1.50% | 1.51% | 36 Month | $2,000.00 | $25.00 | $2,000.00 | | 2.00% | 2.02% | 60 Months | $2,500.00 | $25.00 | $2,500.00 | | | Coverdell Education Savings Certificate | 1.00% | 1.00% | 12 Months | $500.00 | $25.00 | $500.00 | | 1.50% | 1.51% | 36 Months | $500.00 | $25.00 | $500.00 |
APY = Annual Percentage Yield. Fees may reduce earnings on the account. Variable rates are subject to change after the account is opened. The annual percentage yield (APY) is accurate as of the last dividend declaration date. Fees may reduce earnings on the accounts.
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Signature/Personal/ Lifestyle/Holiday/Black Friday LoansRates effective October 1, 2013| Account Type | APR | Max. APR | Term | Amount | | | Signature Loan | As Low As 6.00%* | 18% | Up to 72 months | $22,500 maximum |
*APR = Annual Percentage Rate. **Preferred rates apply to "new money" loans when the borrower agrees to maintain during the term of the loan either:
(1) A Share Draft or Share Account funded by direct deposit of net check (pay, Social Security, retirement, and other recurring payments); OR (2) a minimum of $2,500 in unencumbered shares in the Credit Union. (Rate reduction of .50%)
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Share DraftRates effective October 1, 2013| Account Type | APR | APY | Min. Deposit | Min. Balance | Comments | | | Share Draft Checking | 0% | 0% | None | None | All Balances |
*First 50 checks are free. No monthly fees.
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Share AccountRates effective October 1, 2013| Account Type | APR | APY | Min. Deposit | Min. Addtl. Deposit | Min. Balance | Comments | | | Regular Share | 0% | 0% | $5.00 | None | $5.00 | Balances of less than $100.00 | | 0.05% | 0.05% | $5.00 | None | $5.00 | Balances of $100.00 and over
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Primary Membership Account Required to Join. The dividend rate is equal to the annual percentage rate for all savings accounts. The annual percentage yield (APY) is accurate as of the last dividend declaration date. Fees may reduce earnings on the accounts. Dividends will be forfeited if account is closed before accrued dividends are credited.
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Holiday ShareRates effective October 1, 2013| Account Type | APR | APY | Comments | | | Holiday Share | 0.00% | 0.00% | Balances of less than $100.00 | | 0.05% | 0.05% | Balances of $100.00 and over
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No minimum deposit, minimum balance, or minimum additional deposits. The annual percentage yield (APY) is accurate as of the last dividend declaration date. Fees may reduce earnings on the accounts. Dividends will be forfeited if account is closed before accrued dividends are credited.
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Youth and Young Adult Generation APY CertificateRates effective October 1, 2013| Account Type | Fixed APR | APY | Min. Deposit | Min. Addtl. Deposit | Min. Balance | | | 6 Month Certificate | 2.00% | 2.02% | $100 | $25 | Certificate Balances of $100 - $499.99 | | 2.10% | 2.12% | $100 | $25 | Certificate Balances of $500 - $999.99 | | 2.20% | 2.22% | $100 | $25 | Certificate Balances of $1,000 and over | � |
HEWEY/Generation APY Certificates are available to any member under age 18. The annual percentage yield (APY) is accurate as of the last dividend declaration date. Fees may reduce earnings on the accounts.
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Youth and Young Adult SharesRates effective October 1, 2013| Account Type | APR | APY | Comments | | | HEWEY Shares | .30% | .30% | Balances of less than $100.00 | | .40% | .40% | Balances of $100.00 and over
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Available to eligible children from birth to 12 years old. A regular Share Account must be opened and maintained along with this sub-share. The annual percentage yield (APY) is accurate as of the last dividend declaration date. Fees may reduce earnings on the accounts. Dividends will be forfeited if account is closed before accrued dividends are credited.
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Auto Loans Rates effective October 1, 2013| Account Type | APR | Max. APR | Term | Model Year | Amount | | | New Auto | As Low As 1.60% | 18% | 60 Months | 2013 or Newer
| Up to 100% financing of Purchase Price | | As Low As 2.30%* | 18% | 72 Months ($25K+) | 2013 or Newer
| Up to 100% financing of Purchase Price | | As Low As 3.55%* | 18% | 84 Months ($35K+) | 2013 or Newer
| Up to 100% financing of Purchase Price | | | Used Same as New | As Low As1.60%* | 18% | 60 Months | 2009-2013 | Up to 100% financing of NADA Retail | | As Low As 2.30%* | 18% | 72 Months ($25K+) | 2009-2013 | Up to 100% financing of NADA Retail | | As Low As 3.55%* | 18% | 84 Months ($35K+) | 2009-2013 | Up to 100% financing of NADA Retail | | | Used Auto | As Low As 2.00%* | 18% | 60 Months | 2006 to 2008
| Up to 100% financing of NADA Retail | | As Low As 2.90%* | 18% | 72 months ($25K+) | 2006 to 2008 | Up to 100% financing of NADA Retail | | As Low As 3.90%* | 18% | 84 Months ($35K+) | 2006 to 2008 | Up to 100% financing of NADA Retail |
*APR = Annual Percentage Rate. **Preferred rates apply to "new money" loans when the borrower agrees to maintain during the term of the loan either:
(1) A Share Draft or Share Account funded by direct deposit of net check (pay, Social Security, retirement, and other recurring payments); OR (2) a minimum of $2,500 in unencumbered shares in the Credit Union. (Rate reduction of .50%)
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Home EquityRates effective October 1, 2013| Account Type | APR | Term | Amount | Comments | | | Fixed-Rate Loan 85% LTV | 4.50% *** | 5 Years | $250,000 maximum | Fixed Monthly Payment of Principal and Interest | | | Fixed-Rate Loan 85% LTV | 5.00% *** | 7 Years | $250,000 maximum | Fixed Monthly Payment of Principal and Interest | | 5.50% *** | 10 Years | $250,000 maximum | Fixed Monthly Payment of Principal and Interest | | | Fixed-Rate Loan 85%LTV | 6.50% *** | 15 Years� | $250,000 maximum | Fixed Monthly Payment of Principal and Interest | | | Fixed-Rate Loan 80% LTV | 4.50%*** | 10 Years | $250,000 Maximum | Fixed Monthly Payment of Principal and Interest | | | Fixed-Rate Loan 80% LTV | 5.00%*** | 15 Years | $250,000 Maximum | Fixed Monthly Payment of Principal and Interest | | | Line of Credit 85% LTV | 3.25%*** | N/A | $250,000 maximum | �Minimum monthly payment: 1.5% of outstanding balance. Draw period of 10 years and 15 year repayment term. | | | Line of Credit 80% LTV INTEREST ONLY | 3.25%**** | N/A | $250,000 maximum | ****Interest Only Payment during the 10 year Draw period and principal plus interest during 15 year Repayment term. |
**1) Variable rate of Wall Street Prime 3.25%*** as printed in the Wall Street Journal on the last business day of the previous quarter. No Application Fee 2)No Closing Costs on Home Equity Loans and Home Equity Lines of Credit. If loan is paid off within 36 months the member will be required to reimburse HEWFCU for closing costs paid on the member's behalf. HEWFCU will pay the Appraisal Cost, upon closing. Member is responsible for depositing funds for appraisal fee and will have funds released to them when the loan closes. If a loan does not close, funds deposited will be used to reimburse HEWFCU for the cost of the appraisal. Other fees may also have to be paid if the loan does not close.
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Credit Cards (Fixed Rates)Rates effective October 1, 2013| Account Type | Fixed APR | Amount | Comments | | | Visa Gold | 11.9% | $20,000 maximum | 4.99% Intro APR** | | | Visa Secured | 7.90% | $10,000 maximum | | | Visa Classic | 14.90% | $5,000 maximum | 5.99% Intro APR** |
Minimum monthly payment: 2.5% of your total new balance or $10 whichever is greater. (No interest on purchase balances paid within 25 days of the statement closing dates. Example: statement closing date 1/31, to avoid interest pay balance in full by 2/25.) See agreement for details.
* We reserve the right to increase the interest rate on any VISA account to an 18% APR, on any account which reflects a delinquency of 60 days or more within any time period. **Visa introductory rates on purchases only for first 12 billing cycles.
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Boat and RV LoansRates effective October 1, 2013| Account Type | APR | Max. APR | Term | Amount | | | New / Used RV's | As Low As 8.00%** | 18% | Up to 72 months | Up to 100% financing of Purchase Price | | | New / Used Boats | As Low As 5.00%** | 18% | Up to�72� months (up to $25K) | Up to 100% financing of Purchase Price | | As Low As 6.00%** | 18% | Over 72 months�(over $25K) | Up to 100% financing of Purchase Price |
*APR=Annual Percentage Rate. **Preferred rates apply to "new money" loans when the borrower agrees to maintain during the term of the loan either:
(1) A Share Draft or Share Account funded by direct deposit of net check (pay, Social Security, retirement, and other recurring payments). Or (2) a minimum of $2,500 in unencumbered shares in the Credit Union.
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Share Draft OverdraftRates effective October 1, 2013| Account Type | APR | Amount | Comments | | | Share Draft Overdraft | 17.5% | Up to $2,500 | Monthly payment will be $15 for each $500 or fraction of $500 of your loan balance |
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Line of CreditRates effective October 1, 2014| Account Type | APR | Amount | | | Line of Credit | 9.25% Variable* | $22,500 maximum |
*The ANNUAL PERCENTAGE RATE (APR) will change on the 1st day of each quarter (January, April, July, and October) based on the interest rate Index. The Index is the Prime Rate published in the Wall Street Journal on the last day of each quarter plus a margin of 6%. The APR will never be more than 18.00% or the maximum rate allowed by NCUA, whichever is less. Any increase in the annual percentage rate as a result of an increase in the Index will result in higher payments.Your monthly payment for a variable rate line of credit balances will be 2% of the outstanding balances, however, your minimum payments will never be less than $10.00.
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Share-Secured LoansRates effective October 1, 2013| Account Type | APR | Term | Amount | | | Share-Secured Loan | Rate charged will be 3.00% above dividend rate paid, rounded up to next full percentage rate. Minimum 5.00% | 72 months (consumer purposes) | Value of shares pledged | | Rate charged will be 3.00% above dividend rate paid. Minimum 5.00% | 144 months (non-consumer purposes) | Value of shares pledged |
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Silver Share CertificatesRates effective October 1, 2013| Account Type | APR | APY | Min. Balance | | | 6 Month Certificate | .40% | .40% | $500.00 | | | 9 Month Certificate | .60% | .60% | $100.00 | | | 12 Month Certificate | .75% | .75% | $1,000.00 | | | 24 Month Certificate | 1.00% | 1.00% | $1,000.00 | | | 36 Month Certificate | 1.25% | 1.26% | $2,000.00 | | | 60 Month Certificate | 1.75% | 1.76%% | $2,000.00 |
Substantial penalties apply for early withdrawal of Certificate funds. 36- and 48-Month Silver Share Certificates are non-renewable with the balance transferred to your Main Share upon maturity, unless we are instructed otherwise. Additional deposits to 9 Month Certificate can be made through direct deposit only. The annual percentage yield (APY) is accurate as of the last dividend declaration date. Fees may reduce earnings on the accounts.
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Money ManagementRates effective October 1, 2013| Account Type | APR | APY | Min. Deposit | Min. Addtl. Deposit | Min. Balance | Comments | | | Money Management | 0% | 0% | None | None | None | Balances of less than $1,000.00 | | .20% | .20% | None | None | $1,000.00 | Balances of $1,000.00 to $10,000.00 | | .30% | .30% | None | None | $10,000.01 | Balances of $10,000.01 to $25,000.00 | | .35% | .35% | None | None | $25,000.01 | Balances of $25,000.01 to $50,000.00 | | .40% | .40% | None | None | $50,000.01 | Balances of $50,000.01 to $100,000.00 | | .45% | .45% | None | None | $100,000.00 | Balances over $100,000.00 |
Dividends are paid and compounded monthly. Withdrawal restrictions apply. The annual percentage yield (APY) is accurate as of the last dividend declaration date. Fees may reduce earnings on the accounts.
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Mortgage LoansRates effective October 1, 2013| Account Type | Term | Amount | Comments | | | Mortgages 1st Trust | 30 Years | Call for details | Please contact our Mortgage Department on 202-488-5400 x 1863 or 1-800-742-5582 x 1863. |
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Certificate-Secured LoansRates effective October 1, 2013| Account Type | APR | Term | Amount | | | Certificate-Secured Loan | Rate charged will be 3.00% above dividend rate paid. Minimum 5.00% | Term of Loan not to exceed the earliest maturity date of Certificate(s) | Value of Certificate(s) pledged |
*Term not to exceed the earliest maturity date of certificate.
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