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Rates

Savings Accounts
Effective Date: Sunday, May 27th, 2018
Account TypeRateAPYDividends Paid
Regular Share 0.05% 0.05% Quarterly
Christmas Club Account 0.05% 0.05% Quarterly
Vacation Club Account 0.05% 0.05% Quarterly

APY = Annual Percentage Yield

Dividends are calculated using the daily balance, paid and compounded quarterly. $100 minimum balance required to earn dividends if age 18 or older. No minimum balance required if under 18. Dividend rate is subject to change at any time. Fees may reduce earnings on the regular savings account.

Money Fund (Variable)
Effective Date: Sunday, May 27th, 2018
Minimum Deposit AmountRateAPYDividends Paid
$2,500-$9,999 0.15% 0.15% Monthly
$10,000-$49,999 0.20% 0.20% Monthly
Over $50,000 0.25% 0.25% Monthly

APY = Annual Percentage Yield

Dividends are calculated using the daily balance, paid and compounded monthly. $2500 minimum balance required to open and to earn dividends. Dividend rate is subject to change at any time.

Premier Money Fund (Variable)
Effective Date: Sunday, May 27th, 2018
Minimum Deposit AmountRateAPYDividends Paid
$25,000-$49,999 0.20% 0.20% Monthly
$50,000-$74,999 0.25% 0.25% Monthly
$75,000-$99,999 0.25% 0.25% Monthly
Over $100,000 0.25% 0.25% Monthly

APY = Annual Percentage Yield

To qualify for the Premier Money Fund, the same account number must have a checking account and VISA debit card. If conditions are not met, the premier money fund will revert to the regular money fund rate. The minimum opening deposit is $25,000 and must include at least $5,000 in new money (not previously on deposit at LOC).

 

Balances below $25,000 will earn the regular Money Fund rates for the days they are below the minimum. Dividends are calculated using the daily balance, paid and compounded monthly. $2500 minimum balance required to earn dividends. Dividend rate is subject to change at any time.

 

Certificate & IRA Rates
Effective Date: Sunday, May 27th, 2018
Minimum certificate deposit of $250 required.
Account TypeRateAPYDividends PaidPenalties
3 Month Cert / IRA 0.25% 0.25% At Maturity 90 days
6 Month Cert / IRA 0.40% 0.40% At Maturity 90 days
12 Month Cert / IRA 0.55% 0.55% Monthly 180 days
18 Month Cert / IRA 0.75% 0.75% Monthly 180 days
24 Month Cert / IRA 0.85% 0.85% Monthly 180 days
36 Month Cert / IRA 0.90% 0.90% Monthly 180 days
48 Month Cert / IRA 1.00% 1.00% Monthly 180 days
60 Month Cert / IRA 1.20% 1.21% Monthly 180 days
Variable IRA 0.50% 0.50% Quarterly  

APY = Annual Percentage Yield

No minimum variable IRA balance required to open. Variable IRA dividends are calculated using the daily balance, paid and compounded quarterly. Variable IRA dividend rate is subject to change at any time.

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