Share accounts, also known as savings accounts, are the cornerstone of credit union membership. Dividends are paid on a quarterly basis and are calculated by the average daily balance method. Share accounts allow you to receive a greater return on your investments, simply because you are a shareholder and part-owner. Come in today and start your membership with as little as $1 in a share savings account.
Certificates of Deposit (CDs)
Earn the highest rates your credit union has to offer by investing in a CD account. Open a CD with as little as $1,000 and choose terms ranging from three months to five years. With a eCO CD, you can earn high dividends and watch your money grow.
Individual Retirement Accounts (IRAs)
Investing in an IRA can help you save on taxes now and enjoy retirement later. For your protection, IRA accounts are separately insured to $250,000 by the National Credit Union Administration (NCUA). The credit union offers both Traditional and Roth IRAs.
Most members may make tax-deferred annual contributions up to $4,000 (single filers) or $8,000 (joint filers), and pay taxes when funds are withdrawn (without penalty if after age 59 1/2 or disabled). Workers 50 and older may contribute an additional $1,000 per year for 2006 and thereafter, allowing them to “catch-up” on their retirement savings.
Although contributions are not tax-deductible, your funds grow tax-free and you don’t have to pay taxes when you withdraw if the account has been open for five years and you are 59 1/2 or older, or if you are buying a first home.
Education Savings Account (ESA)
Open an Education Savings Account for that special child in your life. You may contribute up to $2,000 annually per student. Contributions are not tax-deductible, but money grows tax-free and you don’t have to pay taxes when money is withdrawn for qualified school expenses
Make your holiday season merrier without the worry of paying for it. Make deposits through payroll deduction, by mail or over-the-counter. You’ll earn dividends on your savings and your check will be mailed in November right in time for the holidays.
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