- Middletown, Pa. – Trish Shermot, Director of Governmental Affairs/Regional UrbanDevelopment Officer for Visions Federal Credit Union, will be stepping up as co-chair of the Global Women’s Leadership Network PA Sister Society. Current co-chair, Lori Gall, announced she will be stepping down as an officer of the organization at the end of 2022, at which time her duties will pass to Shermot. “I’m…, About Visions Federal Credit Union, Visions Federal Credit Union is a not for profit financial institution completely owned by its members. Established in 1966, Visions proudly serves over 230,000 members in communities throughout New Jersey, New York, and Pennsylvania. Services include banking as well as auto, home, personal, and business loans., About Global Women’s Leadership Network, The Global Women's Leadership Network connects credit union women and men with fellow leaders in other credit union movements all over the world and engages them in professional and personal development through online and in-person educational platforms. Global Women offers international perspectives on the common challenges we all face around the globe. By interacting with other professionals in…
- Binghamton, NY – This summer, Visions Federal Credit Union welcomed community members at the inaugural Visions Summer Concert Series, a free series of outdoor concerts held at the Visions Veterans Memorial Arena in downtown Binghamton, NY. Held the second Friday of June, July, and August, each concert featured a different band, covering a range of music from the 80s to today. The city of…, About Visions, Visions Federal Credit Union is a not for profit financial institution completely owned by its members. Established in 1966, Visions proudly serves more than 230,000 members in communities throughout New Jersey, New York, and Pennsylvania. Services include banking as well as auto, home, personal, and business loans.
- Save money to earn money!, One great reason to save money at Visions: dividends!* Your deposits in savings accounts earn a percentage back over time, and we offer excellent, competitive rates for our members. You'll notice our savings rates, including Share Certificates and Flex Money Market accounts, are always advertised with, APY, , or, Annual Percentage Yield, . You may also notice that in some instances, like our rates pages , we include the interest rate or dividend rate, too. Below is some information to help you better understand your savings accounts and related earnings at Visions., APY vs. Dividend Rates, Credit unions are required by regulation to state the rates of return on all savings accounts in terms of APY, or Annual Percentage Yield. This requirement ensures that you’re getting comparable figures from all credit unions – advertised fairly, consistently, and without deception. It’s one of the many ways we aim to be transparent and accountable to our members., APY – expected earnings, This number is an annual rate that forecasts annual earnings for a savings account. Given as a percentage based on the account balance, APY is a projection that represents the expected amount of earnings after dividends accrue and compound for a full year., Dividend Rate –, , active interest, The dividend rate is an annual rate of return used to calculate daily and monthly earnings for a savings account. Given as a percentage based on the account balance, this rate is active on the savings account, accruing interest daily based on the average daily balance, and compounding monthly. By knowing your accounts' dividend rates, you'll have a more accurate expectation for your monthly…, The big difference between the APY and dividend rate is the compound interest., Here's an example* that demonstrates the relationship between the two rates. Given an initial balance of $50,000, let’s track one year of dividends at 2.25% APY, which earns a dividend rate of 2.23%. Duration Balance New Dividends Total Earnings 0 months $50,000 $0 $0 1 month $50,092.92 $92.92 $92.92 2 months $50,186.01 $93.09 $186.01 3 months $50,279.27 $93.26 $279.27 4 months $50,372.71 $93.…, This total is the , approx. balance , after one year of , dividend deposits., $94.83 , This column , contains monthly , deposits at 2.23% , Dividend Rate., $1,126.47, This final total , represents the , return at 2.25% APY., The chart illustrates how dividends are credited monthly – and how they compound over the course of a full year. Although the dividend rate in the example (2.23%) appears lower than the APY (2.25%), the account accrues enough compounded dividends after 12 months to produce the projected APY ($1,126.47 is approximately 2.25% of $50,000). , For our current savings rates, please visit., visionsfcu.org/rates, ., Explore your savings potential using our , savings calculators, Learn about your, share insurance, for deposits at Visions., *Please note, these numbers are examples only, used for illustrative purposes. It’s also helpful to note that savings accounts at Visions accrue dividends based on the number of days in the month. E.g.: January accrues for 31 days, February accrues for 28 days, etc. As a result, an account’s dividend deposits may be higher for January than February, even if that same account has a slightly higher…
