Account Rates

Watch your money grow in one of our dividend-producing banking account options.

Hawaii County Employees Federal Credit Union is dedicated to helping our customers make the most out of their bank accounts and investments. Read on to find out about our account rates, how to collect dividends, and more.

Rates Effective: July 21, 2023.

Rates Effective: July 21, 2023.

Rates Effective: February 15, 2023.

Rates Effective: February 15, 2023.

Rates Effective: February 15, 2023.

Rates Effective: February 15, 2023.

Rates Effective: February 15, 2023.

Rates Effective: February 15, 2023.

1. Rate Information

The Dividend Rate and Annual Percentage Yield on the accounts are indicated above. For all accounts except certificates, the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Board of Directors. The Dividend Rates and Annual Percentage Yields are the prospective rates as of the effective date shown above. For Certificate Accounts, the Dividend Rate and Annual Percentage Yield are fixed and will be in effect for the term of the account. For Certificate accounts, the Annual Percentage Yield is based on an assumption that dividends will remain on deposit until maturity. A withdrawal of dividends will reduce earnings.

2. Nature of Dividends

Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period. The Dividend Rate and Annual Percentage Yield indicated above are the rates and yields for the last dividend period as indicated above.

3. Compounding and Crediting

Dividends will be compounded and credited as indicated above. For dividend bearing accounts, the Dividend Period begins on the first calendar day of the period and ends on the last calendar day of the period.

4. Accrual of Dividends

Dividends will begin to accrue on noncash deposits (e.g., checks) on the business day you make the deposit to an account you have with us. If you terminate the account before accrued dividends are credited, accrued dividends will not be paid.

5. Balance Information

The minimum balance required to open each account and earn the stated Annual Percentage Yield is indicated above. If you do not maintain the minimum balance, you will not earn the stated Annual Percentage Yield. For all savings, checking, and club accounts, dividends are calculated using the Average Daily Balance method, in which dividends are calculated by applying a periodic rate to the average daily balance in the account for the dividend period. The average daily balance is determined by adding the full amount of principal in the account for each day of the period, and dividing that figure by the number of days in the period. For all certificate accounts, dividends are calculated by using the Daily Balance method, which applies a daily periodic rate to the balance in the account each day.

6. Certificate Account Features

a. Account Limitations 

After you start the account, you may not make additional deposits to a Certificate Account.

b. Maturity 

The Certificate Account you have with us will mature on the maturity date identified on your Account Receipt or Renewal Notice.

c. Early Withdrawal Penalty 

We may impose a penalty if you withdraw any of the principal of the Certificate Account before the maturity date.

1. Amount of Penalty. The amount of the early withdrawal period depends on the certificate term. The penalty is equal to 31 days’ dividends on accounts with terms of one year or less, and 91 days’ dividends on accounts with terms of more than one year. 

2. How the Penalty Works. The penalty is calculated as a forfeiture of dividends that have been or would be earned on the account. The penalty applies irrespective of whether the dividends actually have been earned. If the account has not yet accrued sufficient dividends to cover the penalty, the penalty will be deducted from principal.

3. Exceptions to Early Withdrawal Penalties. At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances: when an owner on an account dies or is determined legally incompetent by a court or other body of competent jurisdiction. Where the account is an Individual Retirement Account (IRA) and any portion is paid within seven (7) days after establishment; or where the account is a Keogh Plan (Keogh) provided that the depositor forfeits an amount of at least equal to the simple dividends earned in the amount withdrawn; or where the account is an IRA or Keough and the owner attains age 59½ or becomes disabled and begins making periodic withdrawals.

d. Renewal Policy

The renewal policy for the accounts is stated in the Rate Schedule. For Certificate accounts, the account will not automatically renew for another term, but you may renew the account at your option. Dividends will not be paid after maturity. Upon maturity, the account balance will be transferred to another account with us.

e. Nontransferable/Nonnegotiable 

The account(s) you have with us is/are nontransferable and nonnegotiable. This means that an account and the funds in the account may not be pledged to secure any obligation of an owner, except obligations with the Credit Union.