Resources and Rates

Most people don't exactly love researching rates or using a calculator... But, finding the best situation for you is important. Here is everything in one place to help figure that out.

Briefcase

Boomer Club

Current Rates

Minimum Opening Deposit Dividend Rate Annual Percentage Yield* Minimum Balance to Obtain APY
$1.00 0.05% 0.05% $25.00

Fees

Item SEFCU Fee New York State Bank/Credit Union average fee^
(as of July 2018)

Maintenance

$3/month

$4.74

 
View Boomer Club details

 

 

 

Mint Savings

Current Rates

Minimum Opening Deposit Dividend Rate Annual Percentage Yield* Minimum Balance to Obtain APY
$1.00 0.05% 0.05% $25.00

Fees

Item SEFCU Fee New York State Bank/Credit Union average fee^
(as of April 2021)
Monthly Maintenance Fee $0.00 $4.52

Overdraft Transfer from Savings

$2.50

$7.39

No activity for 12 months (activity can be as simple as depositing $1/month)

$3/month

$7.80/month

 
View Mint Savings details

 

 

 

Preferred Plus Savings

Current Rates

Average Daily Tier Balances Dividend Rate Annual Percentage Yield** Minimum Balance to Obtain APY
Preferred Plus Savings $0 –$2,499.99 0.05% 0.05% N/A
Preferred Plus Savings $2,500.00 - $9,999.99 0.10% 0.10% $2,500.00
Preferred Plus Savings $10,000 - 24,999.99 0.10% 0.10% $10,000.00
Preferred Plus Savings $25,000 - $49,999.99 0.15% 0.15% $25,000.00
Preferred Plus Savings $50,000 - $99,999.99 0.20% 0.20% $50,000.00
Preferred Plus Savings $100,000–$249,999 0.25% 0.25% $100,000.00
Preferred Plus Savings $250,000–$499,999 0.35% 0.35% $250,000.00
Preferred Plus Savings $500,000–$999,999 0.35% 0.35% $500,000.00
Preferred Plus Savings $1,000,000+ 0.35% 0.35% $1,000,000.00

Fees

Item SEFCU Fee New York State Bank/Credit Union average fee^
(as of April 2021)

Overdraft Transfer from Savings

$2.50

$7.39
No activity for 12 months $3/month $7.80/month
Excessive withdrawals No fee $10.39

Teller Check

No fee

$10.65

Money Order

No fee

$4.04

Below minimum average daily balance *

$15

N/A

 
View Preferred Plus Savings details

 

 

 

Preferred Savings

Current Rates

Average Daily Tier Balances Dividend Rate Annual Percentage Yield* Minimum Balance to Obtain APY
Preferred Savings $0 - $2,499.99 0.05% 0.05% $1.00
Preferred Savings $2,500.00 - $9,999.99 0.10% 0.10% $2,500.00
Preferred Savings $10,000.00 - $24,999.99 0.10% 0.10% $10,000.00
Preferred Savings $25,000 –$49,999 0.15% 0.15% $25,000.00
Preferred Savings $50,000.00 and above 0.20% 0.20% $50,000.00

Fees

Item SEFCU Fee New York State Bank/Credit Union average fee***
(as of April 2021)
Monthly Maintenance Fee $0.00 $4.52
Overdraft Transfer from Savings $2.50 $7.39 
View Preferred Savings details

 

 

 

Roth IRA

Tiered Dividends

Average Monthly Tier Balances Minimum Opening Deposit Minimum Balance to Obtain APY Dividend Rate Annual Percentage Yield*
Roth IRA $0 –$2,499.99 N/A $1.00 0.05% 0.05%
Roth IRA $2,500 –$9,999.99 N/A $2,500.00 0.10% 0.10%
Roth IRA $10,000 –$24,999.99 N/A $10,000.00 0.10% 0.10%
Roth IRA $25,000 –$49,999.99 N/A $25,000.00 0.15% 0.15%
Roth IRA $50,000 & over N/A $50,000.00 0.20% 0.20%

Fees

Item SEFCU Fee New York State Bank/Credit Union average fee**
(as of April 2021)

IRA Close Plan / Transfer Fee

$15

$31.71

Distribution from Contribution

Non-taxable, no IRS penalties

 

Distribution from Earnings:

• Roth IRA is less than 5 years old

• Withdrawals used for higher education

Taxable, no IRS penalties

 

Distribution from Earnings:

• Roth IRA is less than 5 years old

• Withdrawals not used for higher education

Taxable, may have IRS penalty

 

Distribution from Earnings

• Roth IRA is at least 5 years old

• Owner will be at least 59½ years old during the current tax year

No tax liability, no IRS penalty

 

Distribution from Earnings

• Roth IRA is at least 5 years old

• Owner won’t be at least 59½ years old during the current tax year

• Withdrawals are used to pay for qualified higher education expenses, certain medical expenses or for a “First-Time” home purchase

 

“First-Time” home purchase means:

• The home must be purchased by a grandparent, parent, spouse, child or grandchild of the IRA owner, or by the IRA owner

• The home purchaser may not have had his or her name on a mortgage deed in the last 3 years

• There is a lifetime limit of $10,000 which can be distributed from the Roth IRA for this purpose

No tax liability, no IRS penalty

 

 
View Roth IRA details

 

 

 

Traditional & Roth IRA Share Certificates

Fixed Rates

Term Dividend Rate Annual Percentage Yield**
6 months 0.15% 0.15%
10 months 0.15% 0.15%
12 months 0.40% 0.40%
15 months 0.40% 0.40%
18 months 0.45% 0.45%
24 months 0.65% 0.65%
24-month add-on 0.65% 0.65%
36 months 0.75% 0.75%
48 months 0.95% 0.95%
60 months 0.95% 0.95%

Fees

Item IRS penalty SEFCU penalty New York State Bank/Credit Union average fee***
(as of July 2018)

Early withdrawal

Additional IRS penalties may apply

Penalty for breaking the certificate, based on amount withdrawn and the original term length; exceptions are made for withdrawals intended to cover a required minimum distribution

$28.93 – $32.22

Early redemption

Additional IRS penalties may apply

Distributions are usually subject to a SEFCU penalty; exceptions are made in the case of the member having died

 

 
View Traditional & Roth IRA Share Certificates

 

 

 

Traditional IRA

Tiered Dividends

Average Monthly Tier Balances Minimum Opening Deposit Minimum Balance to Obtain APY Dividend Rate Annual Percentage Yield*
Traditional IRA $0 –$2,499.99 N/A $1.00 0.05% 0.05%
Traditional IRA $2,500 –$9,999.99 N/A $2,500.00 0.10% 0.10%
Traditional IRA $10,000 –$24,999.99 N/A $10,000.00 0.10% 0.10%
Traditional IRA $25,000 –$49,999.99 N/A $25,000.00 0.15% 0.15%
Traditional IRA $50,000 & over N/A $50,000.00 0.20% 0.20%

Fees

Item SEFCU Fee

IRA Close Plan Fee

$15

IRA Transfer Fee

$15

 
View Traditional IRA details