No
matter what your reason for savings, we have a plan to fit
your needs. We offer competitive rates which mean a good return
whether you invest for a long or short period of time.
SHARE
SAVINGS When you save at the credit union, you are actually
purchasing shares of stock with a financial institution that
you, your colleagues, and family members own. A minimum deposit
of $25.00 will open your share (savings) account. A $1.00
Joining Fee will also apply and once your balance reaches
$100.00 you will begin earning dividends at the competitive
rate your credit union pays. Dividends are calculated and
paid quarterly.
A
share account is ideal for building reserves for emergencies
and large purchases. The share account also entitles you to
all of the other financial services offered a the credit union
such as checking, loans etc.
SHARE
DIV 1.75% APY 1.76%
CERTIFICATES
OF DEPOSIT
To
meet long-range savings goals, the credit union offers Certificates
of Deposit (CDs). These low-risk investments earn higher rates
than share accounts because money is deposited for a required
length of time and locked at a given rate until maturity.
Terms are available for 6 months & 12 Months.
Interest
is paid quarterly and can be compounded in the CD (for a higher
yield), redeemed to your savings account or deposited into
another credit union account.
The
minimum deposit is $1,000.00. Deposits cannot be made to an
existing CD until maturity.
Funds
withdrawn before a CD matures are subject to penalty and/or
loss of dividend. All Certificate of Deposit are automatically
renewed. |
INDIVIDUAL
RETIREMENT ACCOUNTS
An
IRA is still a good investment despite changes in the tax
law. Most taxpayers may continue to defer taxes on their IRA
contributions and everyone can defer paying taxes on the interest
earned until the money is withdrawn.
If
you enjoy a high standard of living, an IRA is a must for
anyone in their prime income earning years. Of course, the
earlier you start, the better your end result will be. An
IRA combined with Social Security and perhaps your employer's
retirement plan will offer the continued high standard of
living after your retire.
IRAs
do not have a minimum deposit; however, $3,000.00 is the maximum
contribution for any tax year. You may transfer your IRA from
another institution to the credit union or direct rollover
a retirement plan from a qualified employer's pension plan.
IRA
DIV 2.50% APY 2.52%.
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