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nfcu account confusion

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New Contributor

nfcu account confusion

I joined nfcu on 12/31/18. end of day I received a dividend ($0.01) on the $1000 I deposited into the savings account. on 01/20/19 a statement cut for that account (only 21 days?). on 01/31/19 I received another dividend ($0.21) on that $1000.01.

 

are all deposit account statements cut on the 20th of each month or did nfcu arbitrarily choose that date for me?

 

are dividends calculated and paid on the calendar month, not statement month?

 

I have little pile of cash I want to put into a money market account because of the higher rate, will the statement cut be based on the day I open it or on the same day as the saving account or will nfcu choose a date like they did the savings?

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Regular Contributor

Re: nfcu account confusion

My statements cut on the 7th with dividends posting on the last day of the calendar month.
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