Members can now earn a higher dividend rate on a 9-month savings certificate at 1st Cooperative Federal Credit Union. The new rate, a 4.2% annual percentage yield, was approved by the credit union’s board at its January meeting.

“Upward pressure on dividend rates is benefiting members,” said credit union Chief Operating Officer Ashley Beach Reid. “This change will help members who are seeing the interest rates they pay for loans also increase. Loan interest rates and savings dividend rates tend to trend in the same direction.”

Members can open savings certificates online using the “Open a Savings Certificate” form at www.1stCooperative.com/resources.

Meanwhile, members continue to enjoy the credit union’s rates for loans as some of the lowest in the state. “We’ve had a number of members refinance their higher-interest auto loans at the credit union,” Beach Reid said. “One member told us she cut her rate almost in half. So, we know we can help a lot of members save money.”

The credit union’s current rates are available at www.1stCooperative.com/rates.

Membership in the credit union is open to electric cooperative employees, trustees, and their families including spouse, children, grandchildren, parents, grandparents and siblings. To join, visit www.1stCooperative.com/join.