Rates

APY = Annual Percentage Yield
Rates effective as of 12/31/2022.
Fees may reduce earnings.

Checking (Share Draft) Account

Account Type Rate APY Requirements
Cherokee Checking 0.05% 0.05% $300.00 minimum

(below minimum fee $3.00)

Cherokee Checking Plus 0.05% 0.05% $2,500.00 minimum
Cherokee Checking Bonus 0.10% 0.10% $2,500.00 minimum

No more than 6 Withdrawals a month

IRA Term Share Accounts

Length Requirement Rate APY
       
12 Month $1,000.00 Minimum 2.10% 2.10%
18 Month $1,000.00 Minimum 2.25% 2.25%
24 Month $1,000.00 Minimum 2.35% 2.35%
       
26 Month $25,000.00 Minimum 3.15% 3.15%

Share Certificates

Length Requirement Rate APY
       
12 Month $1,000.00 Minimum 2.10% 2.10%
18 Month $1,000.00 Minimum 2.25% 2.25%
24 Month $1,000.00 Minimum 2.35% 2.35%
       
26 Month $25,000.00 Minimum 3.15% 3.15%

Early withdrawals may result in the loss of dividends:

For 6-Month Term accounts, the amount of early withdrawal penalty for your account is 90 days dividend.

For 12-Month Term accounts or greater, the amount of early withdrawal penalty for your account is 180 days dividend.

Share & IRA Savings Dividends

Account Type Balance Rate APY
Share Savings/IRA Savings $100.00 - $2,500.00 0.25% 0.25%
" " $2,500.01 - $5,000.00 0.40% 0.40%
" " $5,000.01 - $10,000.00 0.50% 0.50%
" " $10,000.01 - $25,000.00 0.55% 0.55%
" " $25,000.01 and Up 0.65% 0.65%
Escrow Savings   0.00% 0.00%

Rates declared quarterly based on Credit Union earnings. Quarter ending 12/31/22

Loan Rates Based Upon Beacon Score

Beacon Score New Auto
Up to $25,000.00
Up to 72 months
Secured loan
All rates stated APR
New Auto
Over $25,000.01
*84 months
Secured loan
All rates stated APR
720+ 3.40% 3.90%
680-719 4.40% 4.90%
640-679 5.40% 5.90%
600-639 8.65% 9.15%
555-599 12.65% 13.15%
554 & below 14.65% 15.15%

 

Beacon Score Used Vehicle
1-7 yrs old
Up to 72 months
All rates stated APR
*Unsecured Loans
720+ 4.20% 9.00%
680-719 5.20% 10.00%
640-679 6.20% 11.00%
600-639 9.45% 14.00%
555-599 13.45% 16.00%
554 & below 15.45% 18.00%