Savings Account Rates

Savings Account Rates Effective as of 7/1/2018

Great deposit rates at Bangor Federal.

Savings account rates are subject to change without notice. Contact Bangor Federal to request further information concerning the fees and terms applicable to the advertised accounts. 

 Share Account Type

APY2 Min. to Earn
Min. to
 Regular Savings 0.10% 0.10% $25 $5
 Clubs 0.10% 0.10%  $0  $0
 Regular Checking N/A N/A  $0  $0
 Teen Checking N/A N/A  $0  $0
 Free4ME Checking N/A N/A  $0  $0
 Money Market Accounts3        
     Min. Bal. $2,000 - $9,999.99 0.40% 0.40% $2,000 $2,000
     Min. Bal. $10,000 - $24,999.99 0.45% 0.45% $10,000 $2,000
     Min. Bal. $25,000 and over 0.50% 0.50% $25,000 $2,000
 IRA Savings3        
     Min. Bal. $25 - $9,999.99 0.40% 0.40% $25 $25
     Min. Bal. $10,000 - $24,999.99 0.45% 0.45% $10,000  $25
     Min. Bal. $25,000 and over 0.50% 0.50% $25,000 $25
 Health Savings Accounts 0.10% 0.10% $0 $25
 Regular & IRA Certificates        
     6 months (not available for IRA) 0.80% 0.80% $500 $500
     1 year (not available for IRA) 1.00% 1.00% $500 $500
     18 months (not available for IRA) 1.20% 1.21% $500 $500
     2 years 1.40% 1.41% $500 $500
     3 years 1.80% 1.81% $500 $500
     4 years 2.10% 2.12% $500 $500
     5 years 2.30% 2.32% $500 $500
 1 Year Super Saver Certificate (not available for IRA) 1.00% 1.00% $50 $50
 Jumbo Regular & IRA Certificates        
      6 months (not available for IRA)  0.90% 0.90% $100,000 $100,000
      1 year (not available for IRA)  1.10% 1.11% $100,000 $100,000
      18 months (not available for IRA) 1.30% 1.31% $100,000 $100,000
      2 years  1.50% 1.51% $100,000 $100,000
      3 years  1.90%  1.92% $100,000 $100,000
      4 years  2.20%  2.22% $100,000 $100,000
      5 years  2.40%  2.43% $100,000 $100,000


1 Dividend rates for Certificates and IRA Certificates are guaranteed from time of purchase to maturity. A penalty will be imposed if funds are withdrawn prior to maturity on all Certificates and IRA Certificates. Fees could reduce the earnings on the account. View Account Limitations below for more information on penalties pertaining to early withdrawal of certificates.

2 Annual Percentage Yield.  Dividend rate and annual percentage yield may change at any time after the account is opened (except for certificates).  Regular fees or other conditions could reduce the earnings on the account.

3 Dividend rate is paid based on the aggregate balance method.  


Truth-In-Savings Disclosure

Except as specifically described, the following disclosures apply to all share accounts.

1.Rate Information.

The Dividend Rate and Annual Percentage Yield on your accounts as of the last dividend declaration date are set forth above. The Annual Percentage Yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for a 365-day period, or the term of the account. The dividend rate and annual percentage yield may change monthly for savings accounts, club accounts, IRA accounts, and money market accounts as determined by BFCU’s Board of Directors. For Share Certificates and IRA certificates, the dividend rate and annual percentage yield are fixed for the term of the account. The Annual Percentage Yield is based on an assumption the dividends will remain on deposit until maturity. A withdrawal will reduce earnings. Fees imposed due to an overdraft created by checks, in person withdrawals, ATM withdrawals, or by other electronic means will reduce earnings on the account.

2. Nature of Dividends.

Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period.

3. Compounding and Crediting.

Dividends will be compounded and credited monthly. For deposit accounts, the dividend period is monthly, for example, the beginning date of the first dividend period of the calendar year is January 1st and the ending date of such dividend period is January 31st. All other dividend periods follow this same pattern of dates.

4. Balance Information.

The minimum balance required to open each account and earn dividends is set forth above. Dividends and minimum balances are calculated by the Average Daily Balance method which adds the full amount of the principal in the account each day of the period, then divides that figure by the number of days in that period, and applies a periodic rate to the result.

5. Accrual of Dividends.

Dividends will begin to accrue on cash deposits and non-cash deposits (e.g. checks) on the business day you make the deposit to your account. If you close your account before accrued dividends are credited, accrued dividends will not be paid.

6. Transaction Limitations.

For a Money Market account, no more than six transactions - preauthorized, automatic, electronic transfers, or by check may be made per month. For Money Markets, each withdrawal must be $500.00 or greater. Transactions bringing the Money Market below the minimum required balance will result in no dividends being paid to the account.

7. Schedule of fees for all accounts.

Your account will be charged any and all applicable fees as noted in our Fee Schedule. Overdraft fees apply to overdrafts created by check, in-person withdrawal, ATM withdrawal or other electronic means as applicable. See our Fee Schedule for a list of fees.

Account Limitations for Certificates.

Your account will mature at the end of term as set forth above. The Credit Union will give the owner(s) at least 30 days notice prior to maturity. We may impose a substantial penalty, equal to 180 days’ dividends, on a Share Certificate or IRA Certificate if you withdraw any of the principal before maturity. The penalty for a Super Saver Certificate is equal to 180 days’ dividends plus a $10 fee. The penalty is calculated as a forfeiture of part of the dividends that have or would have been earned. If the account has not yet earned enough dividends, or if the dividends have already been paid, the penalty will be deducted from the principal. At our option, we may pay the account before maturity without penalty under the following circumstances: 1) An account owner dies or is determined incompetent by a court or other body of competent jurisdiction, 2) An IRA account is revoked within 7 days after establishment or the owner attains the age of 59½ or becomes disabled. Annual Percentage Yield assumes dividend remains on deposit until maturity. Early withdrawal of dividend will reduce earnings. Certificates renew automatically at date of maturity unless otherwise requested. There is no grace period.