SECURITY ALERT: FRAUDULENT MEMBER IMPERSONATION ATTEMPTS
We have been experiencing attempts by bad actors who are contacting the credit union, while posing as members in an effort to change account information. For your protection: DO NOT share your online banking credentials, verification codes or personal information with anyone. If you receive any unexpected communications regarding account changes, or notice unauthorized activity, please contact us immediately using the official phone number listed on our website.
We strongly recommend placing a credit freeze with the major credit bureaus and creating or securing your online Social Security account to help prevent identity theft.
Protecting our members' information remains our top priority.
The loan amount, the interest rate, and the term of the loan can have a dramatic effect on the total amount you will eventually pay on a loan. Use our loan payment calculator to determine the payment and see the impact of these variables on a specified loan amount complete with an amortization schedule.
| Income - Single | Income - Head of Household | Income - Married Filing Jointly | Income - Married Filing Separately | Federal Tax Rate |
|---|---|---|---|---|
| $0 - $11,600 | $0 - $16,550 | $0 - $23,200 | $0 - $11,600 | 10% |
| $11,601 - $47,150 | $16,551 - $63,100 | $23,201 - $94,300 | $11,601 - $47,150 | 12% |
| $47,151 - $100,525 | $63,101 - $100,500 | $94,301 - $201,150 | $47,151 - $100,525 | 22% |
| $100,526 - $191,950 | $100,501 - $191,950 | $201,151 - $383,900 | $100,526 - $191,950 | 24% |
| $191,951 - $243,725 | $191,951 - $243,700 | $383,901 - $487,450 | $191,951 - $243,725 | 32% |
| $243,726 - $609,350 | $243,701 - $609,350 | $487,451 - $731,200 | $243,726 - $365,600 | 35% |
| $609,351+ | $609,351+ | $731,201 | $365,601 | 37% |
| Type | Residence | Tuition & Fees | With Room & Board |
|---|---|---|---|
| Public 4yr | Residence: In-state |
Tuition & Fees: $11,260 |
With Room & Board: $24,030 |
| Public 4yr | Residence: Out-of-State |
Tuition & Fees: $29,150 |
With Room & Board: $41,920 |
| Public 2yr | Residence: In-State |
Tuition & Fees: $3,990 |
With Room & Board: $13,960 |
| Private 4yr | Residence: N/A |
Tuition & Fees: $41,540 |
With Room & Board: $56,190 |
| Inflation | 2.9% | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| U.S. Treasury Bills | 3.3% | |||||||||||
| Long-Term Government Bonds | 5.1% | |||||||||||
| U.S. Large-Company Stocks | 10.3% | |||||||||||
| U.S. Small-Company Stocks | 11.8% |
This calculator will estimate your monthly Social Security amount based on the the income(s) and marital status provided. If you would like to override this estimated amount with a different amount, you may do so by entering that amount here.
IRS Notice 2022-62 provides that taxpayers may use—beginning with payments starting in 2022 or later—the greater of 120% of the applicable Federal mid-term rate, or 5% to calculate 72(t) payments using the Amortization or Annuitization methods.
The RMD method does not use an interest rate.
| Year | Inflation Rate | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2014 | 1.6% | |||||||||||||||
| 2015 | 0.1% | |||||||||||||||
| 2016 | 1.3% | |||||||||||||||
| 2017 | 2.1% | |||||||||||||||
| 2018 | 2.4% | |||||||||||||||
| 2019 | 1.8% | |||||||||||||||
| 2020 | 1.2% | |||||||||||||||
| 2021 | 4.7% | |||||||||||||||
| 2022 | 8.0% | |||||||||||||||
| 2023 | 4.1% | |||||||||||||||
Source: U.S. Department of Labor
Also known as the debt ratio, lenders use this ratio, along with the front-end ratio, to determine the maximum loan amount. Debt ratio equals your combined monthly mortgage payment plus any other monthly debt obligations, such as credit cards and alimony, divided by your gross monthly income. Use a back-end ratio of 33% for conservative results and as high as 42% for aggressive results (usually requires excellent credit and a higher down payment).
Also known as the housing ratio, lenders use this ratio along with the back-end ratio to determine the maximum loan amount. The housing ratio equals the combined (principal + interest + taxes + insurance) monthly mortgage payment divided by your gross monthly income. For example, a combined monthly mortgage payment of $1,200 divided by gross monthly income of $4,500 equals a housing ratio of 27%. Use a front-end ratio of 28% for conservative results and as high as 36% for aggressive results (usually requires excellent credit and a higher down payment).
Note: for the Current Year RMD calculations, the beneficiary's date of birth impacta the calculation only if the beneficiary is the spouse. In situations where there are multiple beneficiaries on the account, use the birthdate of th eldest beneficiary. This follows IRS rules that treat the oldest beneficiary's life expectancy as the basis for RMDs unless separate accounts have been established for each beneficiary by the end of the year following the owner's death.