The Springfield Catholic Credit Union has quarterly projected share rates.  The boar of directors, at the beginning of each quarter, projects the rates that will be paid the following quarter.  Most of the time thse rates will be what is paid, but the board has the option at then end of the quarter to adjust the rates up or down.

The interest is figured on the Average Daily Balance.  Average Daily Balance (ADB) dividends are calculated based on the ADB for the dividend period.  The average balance is based on the deposits and withdraws that are made during the period, 

The calculation formula is:

     Divident rate / 365 = Daily Rate

     Daily Rate X Number of Days in the Dividend Period X Average Daily Balance = Dividend.