Annual Percentage Yield (APY)
The APY is the rate you can earn on your account over a year and includes compounded interest.
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Tiered rate accounts earn interest on the entire account balance each day at the interest rate and annual percentage yield in effect for the appropriate balance tier. Accrued interest is credited to the balance in the account on the last business day of the statement cycle. We use a monthly statement cycle. Accrued interest that is credited to the balance in the account begins to earn interest no later than the next business day and compounds with each statement cycle.
Your interest rate and APY are both disclosed in the Product Terms & Conditions, which are available on the website and provided at the time of account opening, except for Certificates of Deposit, where your APY can be found in Online Banking and at the time of account opening.