Starting from August 1, 2007 Wachovia offers the new Wachovia Cost of Savings Index.

In October 2008 Wachovia discontinued providing updates to the new Wachovia Cost of Savings Index rate to the public. It is still being provided for existing customers though (until they are migrated over to a new index).

Starting from January 1, 2009, our ability to report and forecast the Wachovia Cost of Savings Index is limited.

Definition of the original COSI

The Golden West Financial Corporation Cost of Savings Index (GDW COSI) is the weighted average of the rates of interest on the deposit accounts of the federally insured depository institution subsidiaries of Golden West Financial Corporation (GDW). All of the depository institution subsidiaries of Golden West Financial Corporation operate under the name World Savings.

World Savings receives money from consumers in the form of deposits and lends money as home or other loans. The interest rates in effect on these deposits are the basis for the GDW COSI index. It is not based on actual interest paid, but rather the weighted annualized average of all interest rates in effect on World Savings deposit accounts on the last day of each month.

Both the original COSI (GDW COSI) and the W-COSI (Wachovia COSI) adjust monthly and have a one-month reporting lag. They are computed on the last day of each calendar month and are announced on or near the last business day prior to the fifteenth day of the following calendar month.