FINANCIAL
SERVICES
Prime Rate Change Form
Client:	Blue Federal CU
Request Description:	Prime Rate Change 4.0%
Request Type:	
Client Contact:	Julie Strayer
E-mail:	iulie.straver@bluefcu.com
Phone	307-829-7618
Case Number:	
CSE:	Patty Baker
E-mail:	patty.baker@copp.org
Phone:	5153438381
FD/COOP Client#	616
Section 1 - General Information
Request Objective and Desired Outcome(s)_______________________________________________________________________________
On 05.4.2022 the U.S. Federal Reserve announced an increase to its benchmark interest rate. As of 05.04.2022, The Wall Street Journal prime rate, a key reference rate for a variety of loans including credit-card debt, has increased from 3.50% to 4.0%.
In accordance with these announcements we are instructing CO-OP to change our prime rate to 4.0%. on the variable rate methods across the SPA's listed below and/or the approved ALP Chart that is attached.
1.	First impacted statment cycles on 07.22.22 Recommended implemtation date of 7.18.22
2.	The new rate will apply to all transactions starting the day after the previous statement cycle.
3.	All statement balances under no grace including protected balances, incentive pricing, and promotions tied to Prime will be assessed the new rate at statement cycle 7.22.22. 1st transactions impacted 6.22 - 7.22
*CO-OP may create test accounts for the testing of the prime rate*
Identify Affected Programs (i.e. Visa Classic):
SPA:	Platform:
	ALP Charts attached
	
Blue FCU Prime rate change 4.0
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Section 4 - Cost Estimates
Billing Sys/Prin: Total Estimated Cost:	8117/0200/0000	Requested Implementation Date: Estimated Project Duration:	7/18/2022
	$1,000.00		
			
Required Signature Date:		Shared Client:	□	
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Blue FCU Prime rate change 4.0
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