The Providence Association – your Ukrainian fraternal life and benefit society - offers deposit agreement accounts to Ukrainian churches, clubs, associations and other charitable institutions at 3.00% interest. If your Church, parish, society, club, association, or favorite charity is looking for among the best interest rates for its precious longer-term savings funds and reserves, turn to your Ukrainian fraternal partner, The Providence Association. Providence is paying 3.00% interest on institutional deposits into its deposit agreements. Providence’s interest rates are designed consistently to compete favorable with the best rates in most consumer fixed interest income markets. Providence’s deposit agreement accounts also have a guaranteed minimum rate of interest of 3.00%. What is more, your deposit will benefit the Ukrainian community which Providence has been serving since the year 1912. The basic terms and conditions of the deposit agreement plan are as follows: • Current Interest Rate: 3.00% perpetual minimum guaranteed interest rate – interest rate will automatically increase as market forces improve in the future. • Future Interest Rate: Although the interest rate will float with market forces, Providence’s Executive Board’s considered policy is to make current and future interest rates consistently competitive with bank and credit union CD rates. • Guaranteed Minimum Interest Rate: Providence will pay a minimum interest rate of 3%, regardless of how low bank and credit union CD or other rates might go. • Recent Rate History. In recent years Providence’s interest rate has gravitated between 3.00 and 5.25%; this demonstrates the Board’s commitment to keeping the rates competitive as much as is feasible. • Guaranteed Principal and Interest. Providence guarantees both principal and interest. The charitable organization’s deposited monies (principal) nor its accumulated interest will not diminish. • Loads, maintenance fees, administrative fees, etc. Providence has none: again, every penny invested into a Providence annuity works for the investor. • Additional Deposits. The organization can make additional deposits into its account at any time. The fresh deposits will not trigger a fresh surrender charge period. That period extends only from the time of the initial deposit. • Surrender Charge. In order to pay higher rates, Providence, as is the norm in the industry, has a surrender charge period; however, Providence’s surrender charge declines by one point per year, starting at 6% and then disappearing entirely after the sixth year. The depositor can withdraw up to 10% of the money in the account in any given year, without the surrender charge. After the six year surrender charge ends, the account is completely free and open for deposits and withdrawals. • Application and contract. The forms for creating and maintaining a deposit account are quite simple, as are the terms of the deposit contract. The deposit agreements serve well as places to store and to grow long term reserves, funds, foundation monies, etc. Give Providence a call or drop us an email, if your parish, club, society, association or charity has an interest. Our agents are available for free no obligation consultations at times and dates convenient to you and to your associates. Eugene A. Luciw Director of Sales and Marketing The Providence Association 1-877-857-2284 eluciw@provassn provassn
Posted on: Fri, 24 Oct 2014 17:43:37 +0000
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