APY is the Annual Percentage Yield. Dividends on your savings are calculated daily, paid monthly, and are shown on your quarterly statement. Fees could reduce earnings on the account. Rates may change after the account is opened. APY (only for Share Accounts) is compounded interest (usually daily or monthly) calculated for 1 year (even if the term is longer). For example, $10,000 @ 6.000% for 2 years compounded monthly, produces a 6.17% APY which returns a total of $11,272.07 after 2 years.