Do the dividend rates ever change? If so, how often and how much notice is given?
Yes, the dividend rates are subject to change on a monthly basis and are posted on the first day of the month in the Delta Community branches and on our web site. The rate changes are also reflected on each monthly statement.
How are dividends calculated?
Dividends are calculated on a daily basis. You take your previous balance and multiply by the interest rate and then divide that by 365. This is the daily interest earned. You take this and multiply by the number of days your balance stayed that amount. Any time your balance changes; you will have to perform this calculation.
How does the Credit Union compute dividends (interest) on Savings/Checking Accounts during leap years, considering there is an extra day?
The dividend payment is based on the actual number of days in the month and the actual number of days in the year. Therefore, during a leap year, the number of days is based on 366. Our dividends are earned on a daily basis.
I'd like to have my dividends mailed to me in the form of a check. Is this possible? How would I set this up?
You may have your dividends deposited to another share or issued by check and mailed to you. To set this up, send a message from within Online Banking from Contact Us under Additional Services or fax a written, signed request to the Deposit Services at 404-677-4802. Please indicate your correct address for verification purposes.
