Rates

Savings Rates

Current Savings Rates
Type of Account Minimum Opening Balance Minimum Balance to Earn Stated APY Dividend Rate APY*
Effective: 07/01/2017
Regular Shares $5 n/a 0.25% 0.25%
Special Shares $10,000 $10,000 0.45% 0.45%
Checking Accounts n/a n/a 0.20% 0.20%
Vacation and Christmas Shares n/a n/a 0.25% 0.25%
IRA Shares n/a n/a 0.45% 0.45%

* Annual Percentage Yield

Certificate Rates

Current Certificate Rates
Term $1,000-$9,999 $10,000-$19,999 $20,000-$49,999 $50,000 or more
Effective: 06/01/2018
6 Month 1.70% (1.71 APY*) 1.75% (1.76 APY*) 1.80% (1.82 APY*) 1.85% (1.87APY*)
12 Month 2.00% (2.02 APY*) 2.05% (2.07 APY*) 2.10% (2.12 APY*) 2.15% (2.17 APY*)
24 Month 2.25% (2.27 APY*) 2.30% (2.32 APY*) 2.35% (2.38 APY*) 2.40% (2.43 APY*)
36 Month 2.40% (2.43 APY*) 2.45% (2.48 APY*) 2.50% (2.53 APY*) 2.55% (2.58 APY*)

* Annual Percentage Yield
Annual Percentage Yield is based on an assumption that dividends will remain on deposit until maturity.

Loan Rates

Current Loan Rates
Loan Type Approximate Term Annual Percentage Rate
Effective: 07/01/2018
Share Secured 144 Months 2.25%
Special Share Secured 144 Months 2.45%
Certificate Secured 144 Months 3.70% – 4.49%
Signature 48 Months 7.75% – 18.00%
New and Used Autos Up to 72 Months 3.74% – 17.49%
New and Used Autos Up to 84 Months 4.49% – 17.49%
New and Used Motorcycles Up to 72 Months 3.74% – 17.49%
New and Used Motorcycles Up to 84 Months 4.49% – 17.49%
New and Used Boats, Boat Motors, Boat Trailers, Motor Homes, Campers and Trailers Up to 72 Months 3.74% -17.49%
New and Used Boats, Boat Motors, Boat Trailers, Motor Homes, Campers and Trailers Up to 84 Months 4.49% – 17.49%
New and Used Boats, Boat Motors, Boat Trailers, Motor Homes, Campers and Trailers Up to 120 Months 5.49% – 17.49%
New and Used Boats, Boat Motors, Boat Trailers, Motor Homes Up to 144 Months 6.49% – 17.49%
Other Secured Loans Up to 60 Months 3.74% – 17.49%
Lines of Credit (Variable Rate) 7.75% – 18.00%
VISA Credit Card – No Annual Fee 8.00% – 18.00%

Risk Based: The Annual Percentage Rate (APR) you receive for each type of sub-account will be within the range disclosed above and based on your credit worthiness. Please ask for the rate you qualify for.

*Loans are eligible for a 0.25% discount with payroll payment or automatic payment from an Arkansas Best Federal Credit Union account excluding Share Secured, Certificate Secured, and Lines of Credit.

Rates on collateralized loans can be reduced by 0.25% for every 10% of equity in collateral at the time the loan is made up to a maximum 0.50% reduction.

Share/Certificate Advances: The Annual Percentage Rate (APR) for Share Secured/Certificate Advances will be the dividend rate being paid on your Shares/Certificate on the date of the advance plus 2%. The advance will be reviewed every 12 months and rate adjusted.

LINES OF CREDIT: The Annual Percentage Rate (APR) will be based on an Index and Margin. The Index is the Prime Rate as published in the “Money Rates” section of the Wall Street Journal on the 15th day of the month preceding the rate change. The Annual Percentage Rate is subject to change the first day of the month following the published rate in the Wall Street Journal. Your Margin is based on your creditworthiness.

Credit Card Rates

Interest Rates and Interest Charges
Fee Description Fee Amount
Effective: 07/15/2018
Annual Percentage Rate (APR) for Purchases – *Variable 8.00% to 18.00%
APR for Balance Transfers – *Variable 8.00% to 18.00%
APR for Cash Advances – *Variable 8.00% to 18.00% from date of Cash Advance
Cash Advance Fee None
Annual Fee: None
Late Payment Fee $20.00 or the amount of the required minimum payment, whichever is less, if you are ten (10) or more days late in making a payment
Over-the-Limit Fee None
Return Payment Fee $15.00 or the amount of the required minimum payment, whichever is less
Foreign transaction fee of 1.00% of each multiple current transaction in U.S. dollars. .80% of each single currency transaction in U.S. dollars
We use a method called “average daily balance” (excluding new purchases) to calculate your balance

* The ANNUAL PERCENTAGE RATE is subject to change the day after next month’s statement date to reflect any changes in the Index and will be determined by the Prime Rate on the 15th of each month of each year as published in The Wall Street Journal “Money Rates” table to which we add a margin.  The ANNUAL PERCENTAGE RATE will never be greater than 18.00%.  Any increase in the ANNUAL PERCENTAGE RATE will take the form of additional payments shown as Total Minimum Payments on the statement.  If the index is no longer available, the Credit Union will choose a new index which is based upon comparable information.

Each Credit Card account is reviewed semi-annually and rate adjusted according to credit risk score.