DIVIDEND DECLARATION AND INTEREST RATE REDUCTIONS

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP78-04722A000200040029-0
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 2
• Document Creation Date: December 19, 2016
• Document Release Date: February 10, 2003
• Sequence Number: 29
• Publication Date: October 2, 1972
• Content Type: REPORT

a
DIVIDEND DECLARATION and
INTEREST RATE REDUCTIONS
The Board of Directors is pleased to announce a 6% dividend
for the quarter ending 30 September 1972.
The Board has also approved reductions in interest rates
and charges effective 2 October 1972 on several categories of loans.
The reductions apply to outstanding loans as well as loans made
on or after the effective date. Members with the following types
of loans do not have to reapply for the reduced rate; the rate and
charges starting 2 October 1972 will be reduced automatically on
the following:
Signature Loans and Comaker Loans which were
made at the 12% rate have been reduced to 10.8%.
Loans secured by used automobiles or new or used
trailers, trucks, mobile homes, boats, and airplanes
have been reduced from 9?% to 8%.
Loans secured by new automobiles which were made
at 9% have been reduced to 8%.
Home Improvement Loans have been reduced from 9%
to 8%.
Loans secured by sto,s,,bonds, or mutual fund
holdings-have` een reduced from 9% to _8%.
Approved For Rel
 Approved For Rele V S5 ` IA-RDP78-04722A00 ;21~0040029.Q,,
AnMTN TGTRATTUF - INTERNAL USE
Loans secured by first mortgages or deeds of trust
which were made at 9% have been reduced to 7.8%.
- Loans secured by share accounts which were written
at 9% have been reduced to 8%.
In addition, the Board has revised the policy with respect
to loans which are secured by share accounts and has adopted the
following rate schedule for new loans for which shares are offered
as collateral:
6% will be charged for Share Loans which do not
exceed 80% of the share balance and which are to
be repaid in 5 years or less and in at least
monthly, substantially equal payments.
6.5% will be charged for Share Loans in amounts
in excess of 80% of the share balance when such
loans are to be repaid in 5 years or less and in
at least monthly, substantially equal payments.
Up to 133% of the share balance may be borrowed
at this rate.
7.8% will be charged for Share Loans which ex-
tend for more than '.5 years or on which payments
are to be made less frequently than monthly. Up
to 133% of the share balance may be borrowed at
this rate.
Currently some members have Share Loans made at 6% for the first
80% of shares and at 90% for the remainder. The new Share Loan policy
no longer requires or permits new loans with this particular double
note requirement. Members with such double loans may reapply for
a single loan to be written at the 6.5% rate.
Members will be permitted to have both 6.5% and 7.8% Share Loans
which are consistent with the above-stated collateral and amortization
requirements.
The amount by which a Share Loan may exceed the actual share
balance is governed in each case by the statutory limit on a member's
unsecured loan eligibility.
ADMINISTRATIVE - INTERNAL USE ONLY
Approved For Release 2006/10/19: CIA-RDP78-04722AO00200040029-0