Savings Rates

As a non-profit, member-owned financial cooperative, New Generations strives to offer competitive rates on all of our savings products. Please see the tables below to learn how much you can earn when you bank with RVA’s hometown financial partner.

Current Share and Share Certificate account rates and information offered as of: June 26, 2015

Share and IRA Certificates Last Dividend Declaration Date: September 30, 2017

Term PeriodMinimum Deposit
to Open Account
Minimum Balance
to Earn APY
Dividend Rate/APYDividend Period
90 days$1,000.00$1,000.000.050% 0.050%Monthly
6 months$1,000.00$1,000.000.100% 0.100% Monthly
1 year$1,000.00$1,000.000.650% 0.652%Monthly
2 years$1,000.00$1,000.000.850% 0.853%Monthly
3 years$1,000.00$1,000.001.250% 1.257%Monthly
3 years$90,000.00$90,000.001.250% 1.257%Monthly
5 years$1,000.00$1,000.001.750% 1.764%Monthly
5 years$90,000.00$90,000.001.750% 1.764%Monthly

Share Accounts Last Dividend Declaration Date: September 30, 2017

TypeMinimum Deposit
to Open Account
Minimum Balance
to Earn APY
Dividend Rate/APYDividend Period
Primary Shares*$5.00$200.00
$500.00
$1,500.00
0.000% 0.00%
0.050% 0.05%
0.100% 0.10%
Monthly
Sharedraft Checking$0.00N/A0.000% 0.00%Monthly
Reward Checking**$0.00$0.010.150% 0.15%Monthly
Mega Bundle****$0.00$0.000.000% 0.00%Monthly
Mega Checking****$0.00$0.010.100% 0.10%Monthly
Electric Checking$0.00N/A0.000% 0.00%Monthly
Holiday or Vacation Club$0.00$200.000.050% 0.05%Monthly
Other Shares***$0.00$0.000.000% 0.00%Monthly
Youth Account$5.00$0.01
$500.00
0.050% 0.05%
0.100% 0.10%
Monthly
Money Market$1,500.00$1,500.000.050% 0.05%Monthly
Super Money Market$10,000.00$0.00
$10,000.00
$25,000.00
$50,000.00
$100,000.00
0.000% 0.00%
0.150% 0.15%
0.150% 0.15%
0.200% 0.20%
0.250% 0.25%
Monthly
IRA Shares$0.00$0.010.200% 0.20%Monthly

Access our Fee Schedule on the Forms, Disclosures, and Applications page.

Disclosures

Share accounts are variable rate accounts and as such, the rate is subject to change after the account is opened. The annual percentage yield is accurate as of the last dividend declaration date shown. Fees may reduce earnings on accounts.

Dividends may be forfeited if an account is closed before accrued dividends are credited.

Applicable to share and IRA certificates: A penalty may be imposed for early withdrawal. Rates shown above are subject to change; they are offered rates.

*Primary shares include New Horizon, MasterCard share secured, secondary shares, loan payroll shares, and mortgage escrow.

** Reward checking must meet requirements to accrue interest.

***Other shares means insurance accounts; mortgage and MasterCard sweep accounts

****Accounts no longer offered at this time; rates apply to existing accounts only.

Contact an employee for more information about applicable fees and terms:

(804) 359-8754 option 4
-or-
(800) 230-4819 option 4

Revision date 10.02.2017

Rates last changed 06.26.2015