Share/Savings, CDs & IRAs

SHARE/SAVINGS ACCOUNT

A savings account at a credit union is called a share account. Since credit unions are member owned, having a share account is your share of ownership.

That's why all members are required to have a regular share (savings) account. A minimum deposit and balance of $5 is required to maintain this account and makes you eligible to take advantage of all we have to offer - a full menu of services, lower loan rates and lower fees.

As a member, you will earn dividends each day that the account balance is $50.00 or more. Dividends are compounded and credited quarterly.

Your money is insured up to $250,000 by the National Credit Union Association (NCUA).

Reg D: Regulation D is a federal regulation that prohibits a member from making more than 6 electronic transfers from your Share (savings) account per month. This includes transfers made through Online Banking, electronic withdrawals and by telephone.

HEALTH SAVING ACCOUNT

A health savings account (HSA), is a tax-advantaged medical savings account available to taxpayers who are enrolled in a High Deductible Health Plan (HDHP). The funds contributed to an HSA are not subject to federal income tax at the time of deposit. Unlike a flexible spending account (FSA), funds roll over and accumulate year to year if not spent. HSAs are owned by the individual, which differentiates them from company-owned Health Reimbursement Arrangements (HRA) that are an alternate tax-deductible source of funds paired with either HDHPs or standard health plans. HSA funds may currently be used to pay for qualified medical expenses at any time without federal tax liability or penalty. However, beginning in early 2011 OTC (over the counter) medications cannot be paid with HSA dollars without a doctor’s prescription. Withdrawals for non-medical expenses are treated very similarly to those in an Individual Retirement Account (IRA) in that they may provide tax advantages if taken after retirement age, and they incur penalties if taken earlier.

Check with your insurance provider to see if your plan qualifies for a Health Savings Account. If it does, talk to one of our Member Consultants!

CHRISTMAS CLUB ACCOUNT

Save now for a happier holiday next year! Make cash deposits or take advantage of payroll deduction or direct deposit for effortless deposits. You can even have your change from our Change to Saving program go directly to your Christmas Club Account! This account can be started at any time. Each year your Christmas Club funds will be automatically deposited to your Share Account. The transfer of funds will take place after hours on September 30 every year.

CDs or TERM SHARE ACCOUNT

Certificates of Deposit or CDs offer higher returns for your investment than a regular share account because when you open the account, you promise to leave it on deposit for a certain term. Quoted rates at the time of investment are locked in for the term of the Certificate regardless of rate fluctuation during the period. Dividends are compounded and paid quarterly.

We currently offer the following CDs:
  • 90 day term
  • $500 minimum deposit
  • 180 day term
  • $500 minimum deposit
  • 1 year Balance Builder
  • $100 minimum deposit with additions allowed
  • 1 year term
  • $500 minimum deposit
  • 18 month term
  • $1000 minimum deposit
  • 2 year term
  • $1000 minimum deposit
  • 3 year term
  • $1000 minimum deposit
  • 4 year term
  • $1000 minimum deposit
  • 5 year term
  • $1000 minimum deposit

A renewal notice is mailed at least 10 days prior to the maturity date. Your CD will automatically renew for the same term, at the new rate as of the maturity date, on the 10th day after the maturity date if it is not withdrawn. You'll receive a disclosure with account details and penalties for early withdrawal.

CHECK OUR CURRENT RATES and consider depositing into a CD today!

MONEY MANAGEMENT ACCOUNT

A Money Management Account gives you higher dividends - and you still have flexibility to make withdrawals or deposits whenever you'd like!

This account type requires a minimum balance of $2000.00. Minimum deposits into this account are $100.00 and you are allowed up to six withdrawals per month (minimum withdrawal is $300). You are able to close this account at any time with dividends being paid up to the closing date.

CHECK CURRENT RATES

See our Member Services team to open this account today!

INDIVIDUAL RETIREMENT ACCOUNTS - IRA's

Plan for a solid financial future. We offer a variety of IRA options:
Traditional IRA
Roth IRA
Roth Conversion IRA
Education IRA

Talk with one of our Member Consultants to find out the differences in IRA types, or pick up free informational brochures available in our lobby. Consult your tax advisor on how an IRA option might benefit your financial situation then open an IRA account!

  • 1 year IRA
  • $500 minimum deposit
  • 2 year IRA
  • $1000 minimum deposit
  • 3 year IRA
  • $1000 minimum deposit
  • 4 year IRA
  • $1000 minimum deposit
  • 5 year IRA
  • $1000 minimum deposit