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The Plateau Account is a variable rate account that combines settlement and cash management services. Depending on your cash position at the end of the day, the Plateau Account will either pay a dividend on positive balances or advance a loan on negative balances. Detailed settlement activity records are provided with this account. Other information about Plateau Accounts including rates and calculations are as follows:
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Dividend rate: the dividend rate is declared by approximately 3:00 pm CT each business day. The dividend rate for a non-business day is the same as the previous business day.
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Dividend payment: dividends are paid and posted on the last business day of the month.
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Interest rate: the interest rate is declared by approximately 3:00 pm CT each business day. The interest rate for a non-business day is the same as the previous business day.
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Interest payment: interest on a settlement loan is collected automatically as funds are made available.
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Dividend/Interest calculations: dividends and interest charges are calculated on an actual (365-day) basis.
The Plateau Account allows members to combine cash management and settlement. Users can review detailed activity reports and advance settlement loans automatically. Also, dividends increase as deposits increase. As balances grow and the next plateau level is attained, the higher plateau rate is paid on the entire balance.
For more information regarding the Plateau Account, please contact the Investment Department. |