The sun. [volume] (Newberry, S.C.) 1937-1972, May 09, 1968, Image 3
The Newberry Sun, Newberry, S. C., Thursday, May 9, 1968—PAGE 3
Important Announcement
TO
“All Saving Members of Newberry Federal”
Your Board of Directors held a special meeting on
April 25th, 1968. The result of this meeting will be of
interest to you.
The Board unanimously voted to adopt the variable
rate dividend plan effective May 1st, 1968. Dividends at
the current rate of four and one-half (4 1 / 2 %) per cent
per annum, payable quarterly, will be paid on all Pass
book Savings accounts and Investment Share Accounts.
The Association has paid this rate for several years, pay
able semi-annually, now it is payable quarterly.
The Board, also, voted to establish the CERTIFICATE
SAVINGS SHARE ACCOUNTS, with dividends at the
rate of five (5%) per annum, payable semi-annually on
accounts of $5,000 to $9,000 in multiples of $1,000, and on
accounts of $10,000 and up in multiples of $1,000 at the
rate of five and one-quarter (5 l ^%) per cent per annum,
if maintained for a continuous period of six (6) months.
Dividends will be paid at the expiration of each six (6)
months period. Certificates will be automatically renew
ed at the end of each period unless you are notified to
the contrary 30 days prior to the maturity date thereof.
Remember, Insurance of Accounts Is Now $15,000