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Conference 7.286::dcu

Title:	DCU
Notice:	1996 BoD Election results in 1004
Moderator:	CPEEDY::BRADLEY

Created:	Sat Feb 07 1987
Last Modified:	Fri Jun 06 1997
Last Successful Update:	Fri Jun 06 1997
Number of topics:	1041
Total number of notes:	18759

18.0. "New RSVP savings accounts" by PBSVAX::HALBERT () Wed Mar 18 1987 15:55

    Check out the new RSVP savings accounts. These are $100 minimum, no
    maturity term, minimum $100 withdrawal, maximum of 3 withdrawals/month
    for free, $10 charge/withdrawal after that. Current rate is 6.3%, 6.5%
    effective. Rate changes weekly. Share draft accounts are now paying
    5.4%, 5.55% effective. Interested computed daily, posted quarterly.
    
    RSVP = "Reserve Savings Vehicle for People". This is a replacement
    for CHEF accounts, but is more flexible.
    
    --Dan

T.R	Title	User	Personal Name	Date	Lines
18.1	Maximum?	WELFAR::PGRANSEWICZ		`Wed Mar 18 1987 19:33`	4
	Is there a MAXIMUM amount that can be withdrawn? This sounds too good to be true. Are they compensating for the low number of transactions which would be going against such an account?
18.2	$100 minimum	PBSVAX::HALBERT		`Wed Mar 18 1987 20:44`	1
	You have to keep at least $100 in the account. --Dan
18.3	Rate based on??	ATRISK::TANCILL	In my mind, I still need a place to go...	`Fri Apr 24 1987 18:52`	8
	Anyone know what they base their weekly fluctuating rate on? I can't see much of a reason to maintain a regular savings (share 1) account with RSVP around. jt
18.4		TOMK::KRUPINSKI	A dark morning in America	`Wed Nov 25 1992 13:31`	8
	The "3 withdrawals a month" restriction has apparently been gone for some time. Ditto for the $100 minimum balance and $100 minimum withdrawals? If so, since the rate is greater than normal savings, why even bother with a normal savings account (except for the $5 minimum). Why not eliminate RSVP and make the savings rate the RSVP rate? Tom_K
18.5		PATE::MACNEAL	ruck `n' roll	`Wed Nov 25 1992 14:13`	1
	I think there is still a minimum balance of $100 on RSVP accounts.
18.6	Just a named savings account with minimum balance	CADSYS::FLEECE::RITCHIE	Elaine Kokernak Ritchie	`Wed Nov 25 1992 14:19`	3
	Is the rate greater than normal savings any more? Elaine
18.7		PATE::MACNEAL	ruck `n' roll	`Wed Nov 25 1992 14:39`	3
18.8		PATE::MACNEAL	ruck `n' roll	`Wed Nov 25 1992 14:40`	21
	+-+-+-+-+-+-+-+TM ----------- \|d\|i\|g\|i\|t\|a\|l\| U.S. News LIVE WIRE +-+-+-+-+-+-+-+ ----------- Investment rates, cont'd Savings/Clubs/ Checking Accounts Annual Yield (%) Rate (%) ----------------- ---------------- -------- Primary Savings 2.95 2.91 Clubs 2.95 2.91 Money Market 3.00 2.96 Checking 2.90 2.86 (balances > $1000) Savings IRA 3.50 3.45 I believe Money Market = RSVP