Following is a “quick reference” showing formulas used by CU*BASE when calculating dividends and interest for savings and certificate accounts.
Click here for interest calculation methods for loan products.
Dividend Rate/100 
÷ 
Days in Year 
= 
Daily Rate 


365 (non leap year) 366 (leap year) 

(truncated to 9 decimal places) 
.xxxxx 
÷ 
365/366 
= 
xx.xxxxxxxxx 





Daily Rate 
* 
Days in the Period 
= 
Daily Factor 




(truncated to 9 decimal places) 
xx.xxxxxxxxx

*  xx 
= 
xxx.xxxxxxxxx 




Accum. Balances 
÷  Days in Dividend Period 
= 
Average Daily Balance (ADB) 
Cumulative total; accumulated daily throughout the dividend period 
Incremented by 1 for each calendar day throughout the dividend period 

(truncated to 2 decimal places)  
xxxxxxxx.xx 
÷  xx 
= 
xxxxxxx.xx 




Daily Factor 
*  Average Daily Balance 
= 
Dividend Amount 



(rounded to 2 decimal places)  
xx.xxxxxxxxx 
*  xxxxxxxxx.xx 
= 
xxxxxxx.xx 
Dividend Rate/100 
÷ 
Days in Year 
= 
Daily Rate 
365 (non leap year) 366 (leap year) 
(truncated to 8 decimal places) 

.xxxxx 
÷ 
365/366 
= 
xx.xxxxxxxx 
Current Balance 
´ 
Daily Rate 
= 
Daily Dividend Amount 
xxxxxxx.xx 

xx.xxxxxxxx 

xxxxxx.xxx (rounded to 3 decimal places) 
Daily Dividend Amount 
´ 
No. of Days to Calculate 
= 
Dividend Accrual Amount 
xxxxxx.xxx 

xx 

xxxxxx.xxx 
· NOTE: Payment of this dividend is truncated to two decimal points (for example: .038 is paid at .03 instead of .04)
Dividend Rate/100 
÷ 
Days in Year 
= 
Daily Rate 
365 (non leap year) 366 (leap year) 
(truncated to 8 decimal places) 

.xxxxx 
÷ 
365/366 
= 
xx.xxxxxxxx 
Current Balance 
+ 
Member Accrual Amount 
= 
Balance Calc. Amount 
xxxxxxx.xx 

xxxxxxxxxxxxx.xx 

xxxxxxxxx.xx 
Balance Calc. Amount 
´ 
Daily Rate 
= 
Daily Dividend Amount 
xxxxxxxxx.xx 

xx.xxxxxxxx 

xxxxxx.xxx 
Daily Dividend Amount 
+ 
Member Accrual Amount 
= 
New Member Accrual Amount 
xxxxxx.xxx 

xxxxxxxxx.xxx 

xxxxxxxxx.xxx 
If number of days is greater than zero, subtract 1 from number of days and restart calculation.
NOTE: Payment of this dividend is truncated to two decimal points (for example: .038 is paid at .03 instead of .04)
1 
÷ 
365 (or 366) 
= 
Yearly Factor 




x.xxxxxxxxx 
Div Rate/100 
´ 
Yearly Factor 
= 
Fractional Div Rate (FDR) 
.xxxxx 

x.xxxxxxxxx 

xx.xxxxxxxxx 
FDR 
´ 
(Current Balance + Accrued) 
= 
Daily Accrued 
xx.xxxxxxxxx 

xxxxxxxxx.xx 

xxxxxxx.xxx 
NOTE: Payment of this dividend is truncated to two decimal points (for example: .038 is paid at .03 instead of .04)
1 
÷ 
365 (or 366) 
= 
Yearly Factor 




x.xxxxxxxxx 
Div Rate/100 
´ 
Yearly Factor 
= 
Fractional Div Rate (FDR) 
.xxxxx 

x.xxxxxxxxx 

xx.xxxxxxxxx (truncated to 9 decimal places) 
FDR 
´ 
Current Balance 
= 
Daily Accrued 
xx.xxxxxxxxx 

xxxxxxx.xx 

xxxxxxx.xxx 
NOTE: Payment of this dividend is truncated to two decimal points (for example: .038 is paid at .03 instead of .04)
1 
÷ 
365 (or 366) 
= 
Yearly Factor 




x.xxxxxxxxx 
Div Rate/100 
´ 
Yearly Factor 
= 
Fractional Div Rate (FDR) 
.xxxxx 

x.xxxxxxxxx 

xx.xxxxxxxxx 
FDR 
´ 
CD Amount 
= 
Daily Accrued 
xx.xxxxxxxxx 

xxxxxxx.xx (face value) 

xxxxxxx.xxx 
NOTE: Payment of this dividend is truncated to two decimal points (for example: .038 is paid at .03 instead of .04)