Savings Rates
| Type of Account | Minimum Opening Balance | Minimum Balance to Earn Stated APY | Dividend Rate | APY* |
|---|---|---|---|---|
| Effective: 05/01/2020 | ||||
| Regular Shares | $5 | n/a | 0.10% | 0.10% |
| Special Shares | $10,000 | $10,000 | 0.25% | 0.25% |
| Checking Accounts | n/a | n/a | 0.10% | 0.10% |
| Vacation and Christmas Shares | n/a | n/a | 0.10% | 0.10% |
| IRA Shares | n/a | n/a | 0.25% | 0.25% |
* Annual Percentage Yield
Certificate Rates
| Term | $1,000-$9,999 | $10,000-$19,999 | $20,000-$49,999 | $50,000 or more |
|---|---|---|---|---|
| Effective: 05/28/2020 | ||||
| 6 Month | .20% (.20 APY*) | .25% (.25 APY*) | .25% (.25 APY*) | .25% (.25 APY*) |
| 12 Month | .20% (.20 APY*) | .25% (.25 APY*) | .25% (.25 APY*) | .25% (.25 APY*) |
| 24 Month | .20% (.20 APY*) | .25% (.25 APY*) | .25% (.25 APY*) | .25% (.25 APY*) |
| 36 Month | .25% (.25 APY*) | .35% (.35 APY*) | .35% (.35 APY*) | .40% (.40 APY*) |
* APY= Annual Percentage Yield. Federally insured by NCUA.
Please see our Truth in Savings Disclosure for terms and disclosures.
Loan Rates
| Loan Type | Approximate Term | Annual Percentage Rate |
|---|---|---|
| Effective: 05/16/2020 | ||
| Share Secured | 144 Months | 2.25% |
| Special Share Secured | 144 Months | 2.50% |
| Certificate Secured | 144 Months | 2.30% – 4.65% |
| Signature | 48 Months | 6.00% – 18.00% |
| New and Used Autos | 36 Months | 1.74% – 16.24% |
| New and Used Autos | 48 Months | 1.99% – 16.24% |
| New and Used Autos | Up to 72 Months | 2.24% – 16.24% |
| New and Used Autos | Up to 84 Months | 2.99% – 16.24% |
| New and Used Motorcycles | Up to 36 Months | 1.74% – 16.24% |
| New and Used Motorcycles | Up to 48 Months | 1.99% – 16.24% |
| New and Used Motorcycles | Up to 72 Months | 2.24% – 16.24% |
| New and Used Motorcycles | Up to 84 Months | 2.99% – 16.24% |
| New and Used Boats, Boat Motors, and Boat Trailers | Up to 36 Months | 1.74% -16.24% |
| New and Used Boats, Boat Motors, and Boat Trailers | Up to 48 Months | 1.99% -16.24% |
| New and Used Boats, Boat Motors, and Boat Trailers | Up to 72 Months | 2.24% -16.24% |
| New and Used Boats, Boat Motors, and Boat Trailers | Up to 84 Months | 2.99% -16.24% |
| New and Used Boats, Boat Motors, and Boat Trailers | Up to 96 Months | 3.99% -16.24% |
| New Boats, Boat Motors, and Boat Trailers | Up to 144 Months | 4.99% -16.24% |
| New and Used Motor Homes, Campers and Trailers | Up to 36 Months | 3.24% -17.74% |
| New and Used Motor Homes, Campers and Trailers | Up to 48 Months | 3.49% -17.74% |
| New and Used Motor Homes, Campers and Trailers | Up to 72 Months | 3.74% -17.74% |
| New and Used Motor Homes, Campers and Trailers | Up to 84 Months | 4.49% – 17.74% |
| New and Used Motor Homes, Campers and Trailers | Up to 120 Months | 5.49% – 17.74% |
| Other Secured Loans | Up to 36 Months | 1.74% – 16.24% |
| Other Secured Loans | Up to 48 Months | 1.99% – 16.24% |
| Other Secured Loans | Up to 60 Months | 2.24% – 16.24% |
| Lines of Credit (Variable Rate) | 6.00% – 18.00% | |
| VISA Credit Card – No Annual Fee | 6.25% – 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.
For a loan of $20,000 for a term of 60 months with a 3.99% APR, the monthly payment would be $368.19.
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
| Fee Description | Fee Amount |
|---|---|
| Effective: 05/16/2020 | |
| Annual Percentage Rate (APR) for Purchases | 6.25% to 18.00%, when you open your account, based on your creditworthiness. This APR will vary with the market based on the Prime Rate. |
| APR for Balance Transfers | 6.25% to 18.00%, when you open your account, based on your creditworthiness. This APR will vary with the market based on the Prime Rate. |
| APR for Cash Advances | 6.25% to 18.00%, when you open your account, based on your creditworthiness. This APR will vary with the market based on the Prime Rate. |
| How to Avoid Paying Interest on Purchases |
Your due date is at least 25 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay your entire balance by the due date each month. |
| For Credit Card Tips from the Consumer Financial Protection Bureau |
To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore. |
| Transaction Fees -Foreign Transaction Fee |
1.00% of each transaction in U.S. dollars |
| Penalty Fees | Up to $20.00 (late payment) Up to $15.00 (returned payment) |
How We Will Calculate Your Balance:
We use a method called “average daily balance (excluding new purchases) (including new balance transfers and cash
advances).”
Effective Date:
The information about the costs of the card described in this application is accurate as of: April 15, 2020.
This information may have changed after that date. To find out what may have changed, contact the Credit Union.
For California Borrowers, the Visa Classic is a secured credit card. Credit extended under this credit card
account is secured by various personal property and money including, but not limited to: (a) any goods you
purchase with this account, (b) any shares you specifically pledge as collateral for this account on a separate
Pledge of Shares, (c) all shares you have in any individual or joint account with the Credit Union excluding
shares in an Individual Retirement Account or in any other account that would lose special tax treatment under
state or federal law, and (d) collateral securing other loans you have with the Credit Union excluding dwellings.
Notwithstanding the foregoing, you acknowledge and agree that during any periods when you are a covered
borrower under the Military Lending Act your credit card will be secured by any specific Pledge of Shares you
grant us but will not be secured by all shares you have in any individual or joint account with the Credit Union.
For clarity, you will not be deemed a covered borrower if: (i) you establish your credit card account when you are
not a covered borrower; or (ii) you cease to be a covered borrower.
