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Rates

For more than 85 years, we have helped customers open their first savings account, purchase their first home and expand their business.

Have Questions?  Contact LCFB for more details!

Deposit Rates

Interest Rate(s) and Annual Percentage Yield(s) (APY) are effective as of 09/01/2021 at 6:00:00 AM and are subject to change.

Checking Accounts

 ANNUAL PERCENTAGE YIELDINTEREST RATE
CHECKING NON-INTEREST BEARING NON-INTEREST BEARING

Savings Accounts

 ANNUAL PERCENTAGE YIELDINTEREST RATE
STATEMENT SAVINGS 0.03% 0.03%

Money Market Accounts



ANNUAL PERCENTAGE YIELDINTEREST RATE
$0.00 - $2,499.99 0.03% 0.03%
$2,500.00 - $9,999.99 0.05% 0.05%
$10,000.00 - $24,999.99 0.10% 0.10%
$25,000.00 - $74,999.99 0.15% 0.15%
$75,000.00 and over 0.15% 0.15%

Certificates of Deposit* 

*(YOU WILL BE PAID THE RATES LISTED BELOW UNTIL FIRST MATURITY)

CERTIFICATE OF DEPOSIT
($1,000.00 Minimum Balance)
ANNUAL PERCENTAGE YIELD
INTEREST RATE
EARLY WITHDRAWAL PENALTY
3 - MONTH  0.15%  0.15% 90 Days 
6 - MONTH 0.15%  0.15%  90 Days 
12 - MONTH  0.35%   0.35%  90 Days
18 - MONTH   0.40%  0.40%  180 days 
24 - MONTH  0.45%  0.45%  180 days
30 - MONTH (Renewals Only)  0.50% 0.50%   180 days
36 - MONTH 0.55%  0.55%  180 days
48 - MONTH  0.60%   0.60% 365 days 
60 - MONTH  0.75%  0.75%  365 days

CERTIFICATE OF DEPOSIT SPECIALS
($5,000.00 Minimum Balance)
ANNUAL PERCENTAGE YIELD
INTEREST RATE
EARLY WITHDRAWAL PENALTY
None at this time N/A N/A N/A

JUMBO CERTIFICATES OF DEPOSIT SPECIALS 
($100,000.00 Minimum Balance)
ANNUAL PERCENTAGE YIELD
INTEREST RATE
EARLY WITHDRAWAL PENALTY
None at this time N/A N/A N/A

The APYs disclosed are based on a $10,000.00 initial deposit.

APY assumes interest is compounded to the account.
An early withdrawal penalty may apply if funds are withdrawn before maturity.

Request an account disclosure for additional information on our accounts.

Deposit rates stated will be honored during posted lobby hours each day.

Our trade area is a 30 mile radius of the City of Lake City within the state of Minnesota.  LCFB reserves the right to reject any deposit or application outside our trade area.

Consumer Loan Rates

Interest Rate(s) and Annual Percentage Rate(s) (APR) are effective as of 09/01/2021 at 6:00:00 AM and are subject to change.

Actual interest rate charged may vary based on borrowers' credit score; term; and type, age and condition of the collateral.

 NEW AUTOS,  BOATS AND RVsINTEREST RATEANNUAL PERCENTAGE RATE
≤ 24 months  3.000%  3.000%
 ≤ 36 months  3.000%  3.000%
 ≤ 48 months  3.150%  3.150%
 ≤ 60 months  3.200%  3.200%
 ≤ 72 months  3.550%  3.550%

 USED AUTOS,  BOATS AND RVsINTEREST RATEANNUAL PERCENTAGE RATE
≤ 24 months 3.200% 3.200%
≤ 36 months 3.250% 3.250%
≤ 48 months  3.500%  3.500%
> 48 months  4.000%  4.000%

OTHER SECUREDINTEREST RATEANNUAL PERCENTAGE RATE
 ≤ 48 months 5.000% 5.000%
> 48 months 5.125% 5.125%

APRs above assume a loan of $7,344.00 for the specified term.
Loans less than $7,344.00 will be subject to a $25.00 loan administrative fee.


UNSECUREDINTEREST RATEANNUAL PERCENTAGE RATE
≤ $2,500.00* 18.000% 19.046%
> $2,500.00** 8.000% 8.995%

*APRs above assume a loan of $2,499.00 for 24 months at 18.00% interest with a $25.00 processing fee.

**APRs above assume a loan of $2,500.00 for 24 months at 8.00% interest with a $25.00 processing fee.


 

SMALL LOANS
Any loans less than $2,500.00 will be charged 18%.
Loans less than $7,344.00 will be subject to a $25.00 loan administrative fee.

Rates stated will be honored during posted lobby hours each day.

Our trade area is a 30 mile radius of the City of Lake City within the state of Minnesota. LCFB reserves the right to reject any application outside our trade area.

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