Setting account dividend rates

To set or change the dividend rates received by your individual member accounts, click on the Manage Program button and select “Set Account Dividend Rates.”

Select whether you would like to change the dividend rate for all accounts in the program or for an individual account. Selecting “For all accounts” will set a new rate for all depositor accounts in the ModernFi program.

If you are setting a rate for all accounts, enter the new Account Dividend Rate and click “Submit.” If you are setting a rate for an individual account, select the Account ID from the dropdown menu, enter the new Account Interest Rate, and click “Submit.” A Pending Request will be created in the Requests table reflecting the submission.

Account dividends can be set to a variety of structures, including:

• Fixed Rate: static dividend rate (can be set nominally or as APY)
  • Nominal: stated annual dividend rate that does not account for compounding
  • APY: effective annual return that includes the impact of compounding interest
• Floating Rate: variable rate set based on a nominal spread to the Median Effective Federal Funds Rate
• Tiered Rate: rate structure that applies different dividend rates to accounts based on balances held in the network (can be set nominally or as an APY)