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Listerhill Credit Union is a nonprofit financial cooperative improving lives in our community.

If you live in Alabama, Georgia, Mississippi, Florida, or Tennessee, you are eligible to become a member. Depending on your individual eligibility, we may require membership into an approved association at no cost to you.

You can also qualify for membership by being a family member of a current or potential Listerhill member.

With only $5, you can join Listerhill today and start taking advantage of a lifetime membership.

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Listerhill Credit Union (en-US)

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Simple vs. Compound Interest Calculator

How It Works

You want to earn as much interest as possible on your savings but not pay more than you have to when you borrow. One of the biggest factors in both is whether you’re accruing simple or compound interest.

Simple Interest is calculated annually on the amount you deposit or owe. Compound Interest is when interest earned is added to the principal, forming a new base on which the next round of interest is calculated. This usually accrues daily, monthly, or quarterly.

Enter the starting balance and use the sliders to adjust the monthly contribution, interest rate, and years. The graph will demonstrate the growth of the principal and interest earned/owned with simple interest vs compound interest.

Other Resources
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Your Financial Future Starts Here

When you are faced with life-changing transitions, there are usually some important financial decisions that you will have to make during these times of change. Your financial decisions may significantly impact your financial security in the years, decades or generations to come. When you’re making these important financial decisions, you want sound, objective advice from someone who knows you well. Listerhill Financial Services gives you the personalized, local service you deserve.
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Rule of 72 Calculator by Interest Rate

This rule predicts how long an investment will take to double based on a fixed annual interest rate.
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Asset Depreciation Calculator

See how an asset will depreciate over time, the asset value, the yearly depreciation rate, and the annual depreciation.

Common FAQs

  • Is Simple or Compound Interest Better?

    It depends on what you need! If you are saving money in an account or being repaid for a loan, compound interest may be a good choice for you.

    If you are borrowing money, you may be able to pay less over time with simple interest.

    (Source: Banzai)

  • How do I know what kind of interest I have?

    If you are not sure what kind of interest your loan has, check your loan documents or contact your lender.

    (Source: Banzai)

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Credit cards provide instant access to borrowing that can make it easier to manage your monthly expenses and afford larger purchases.

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How to Join a Credit Union in 3 Steps

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© 2024 Listerhill Credit Union (en-US). All Rights Reserved. Federally insured by the NCUA. NMLS #439260
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Frequently Asked Questions

  • What are some factors to consider when choosing a rewards credit card?

    Determine whether you prefer cash back, travel points, or other reward types. Then, explore how and when reward points accumulate, if there are spending caps, and how easy it is to redeem your rewards. Financial institutions like credit unions tend to offer great rewards credit cards.

  • How can I compare credit card offers before making a decision?

    Carefully review rewards programs, like cash back or travel miles, when comparing credit cards. Also, consider the rewards rate, interest rates, annual fees, and any additional benefits the card includes.

  • What are the benefits of choosing a credit union's credit card compared to others?

    Our credit cards reward you for making purchases. They feature competitive interest rates and fewer fees than traditional banks. Members benefit from personalized customer service. We work closely with you to understand your financial situation and needs.

  • What if I prefer to make my payments through a pre-authorized automatic payment arrangement (ACH)?

    Please contact TruHome at 844-203-3642 to set up automatic payments or visit here to set them up yourself.

  • What if I prefer to make my payments through the Listerhill Mobile Banking app or Online Banking?

    Unfortunately, when the transfer occurs, mortgages will not be displayed on our app or in online banking, but we are working to bring that functionality ASAP.

    In the meantime, please visit here to view all mortgage information and payment options.

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