As a consumer, there are many times when it may make sense to shop interest rates. That's why we make it easier than ever to compare Amplify Credit Union's current interest rates to those of other financial institutions. In this section, we'll point you towards our dedicated "Rates" website, explain our use of annual percentage yield, and offer a few insights into why our rates may be subject to change.
- The current Amplify Credit Union rates can always be found in the "Rates" section of the Amplify website.
- Rates are often subject to change due to changing economic factors.
Where Can I Find the Current Amplify Credit Union Rates?
Since our interest rates are subject to change, we have created a webpage with the current rates for each product and service offered by Amplify. There you can find the current interest rates for everything from savings accounts to home equity loans.
Having these rates on a single page prevents you from ever seeing an out-of-date or inaccurate rate on our website or on a partner's site. We also list the date of the most recent changes in the small print underneath each section.
To see the current Amplify Credit Union Interest Rates, visit the "Rates" section of the Amplify website or click on the image below.
What Is Annual Percentage Yield?
Unlike Annual Percentage Rate (APR), Annual Percentage Yield (APY) accounts for the compounded interest over time. Interest is added to your account balance, which increases the principal amount, which means more money paid in interest. Reporting the APY of our products and services provides you with a more accurate long-term image of your earnings.
Why Do Interest Rates Change Over Time?
The interest rates at any bank or credit union are often subject to change. There are a handful of factors that may cause the interest rate on savings and deposits to change. Below, we list two of the most common factors.
- Monetary Policy. If you follow economic publications, you are already aware of the role the Federal Reserve plays in shaping interest rates across the country. The Federal Reserve exists to create a stable and sustainable economy. In its fight against inflation, this organization may elect to tighten or loosen interest rates as a means of keeping the market stable.
- Economic Growth. Credit unions and banks have a responsibility to look after their customers' money. During periods of slow economic growth, financial institutions may adjust interest rates to ensure that they can deliver on their promise to build member assets. Much like the Federal Reserve, credit unions and banks are constantly working to create sustainable and long-term value for their members.