Checking and Savings

Savings

Share Accounts

The foundation of your Community Powered experience is the Share Account. This account acts as your Savings Account, paying dividends that compound each month as an interest rate would and qualifying you to open a Checking Account. The minimum balance to open a Share Account is $5. You must maintain a minimum daily balance of $5 in your account to avoid a minimum balance fee of $2.00 once during the statement cycle. You may not make more than six withdrawals or transfers to another credit union account during any month.

Share Certificates / CDs

Share Certificates are the ideal investment when you do not need immediate access to your money. You earn a higher yield than in the Share Savings or Money Market Account, and you decide how long to invest. Dividends are calculated and paid monthly. There may be a penalty for early withdrawal.

Money Market

A Money Market Account is ideal for those who need easy access to their money and want to earn higher dividends than with a Share Savings Account. Dividends are compounded and calculated monthly. There is a minimum balance of $2,500 required. If, during any month, you account falls below this amount, you will be charged a maintenance fee of $10.00 once during the statement cycle.

IRA Share Accounts

An IRA Share Account can help you plan for your retirement with tax-free contributions and withdrawals. You can earn dividend income at fixed or variable rates, and even use this income to purchase additional shares. This way, the share account increases in value just as compound interest would. You may not make any withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized or automatic transfer, telephonic order or instruction, or similar order to a third party. The par value of a share in this account is $30.

Holiday and Vacation Accounts

Build up your savings throughout the year for extra cash on hand during the holiday season or for vacations. This account pays compounded monthly dividends and there is no minimum balance requirement. You may set up a Holiday/Vacation Account at any time and continue to add to it into the next year.

 

Savings and Certificate Rates

Rates Effective: August 1, 2019

Savings Rates

Account Type Minimum Balance Dividend Rate (%) APY* (%) Term (Months)
Regular Savings $5 .150 .150 n/a
Christmas Club .150 .150 n/a
Vacation Club .150 .150 n/a
IRA Shares .820 .820 n/a
Money Market ($50,000+) $50,000 .300 .300 n/a
Money Market ($25,000-$49,999) $25,000 .250 .250 n/a
Money Market ($10,000-$24,999) $10,000 .210 .210 n/a
Money Market ($2,500-$9,999) $2,500 .170 .170 n/a

*APY = Annual Percentage Yield

Certificate Rates

Certificates

Minimum Deposit Dividend Rate (%) APY* (%) Term (Months)
6 Month Share Certificate $500 .320 .320 6
12 Month Share Certificate $500 .550 .550 12
24 Month Share Certificate $500 .650 .650 24
36 Month Share Certificate $500 1.110 1.110 36
48 Month Share Certificate $500 1.300 1.300 48
60 Month Share Certificate $500 1.650 1.660 60
6 Month Share Certificate (Jumbo) $25,000 .420 .420 6
12 Month Share Certificate (Jumbo) $25,000 .650 .650 12
24 Month Share Certificate (Jumbo) $25,000 .750 .750 24
36 Month Share Certificate (Jumbo) $25,000 1.210 1.210 36
48 Month Share Certificate (Jumbo) $25,000 1.400 1.410 48
60 Month Share Certificate (Jumbo) $25,000 1.750 1.760 60
12 Month IRA Share Certificate $500 .550 .550 12
24 Month IRA Share Certificate $500 .650 .650 24
36 Month IRA Share Certificate $500 1.110 1.110 36
48 Month IRA Share Certificate $500 1.300 1.300 48
60 Month IRA Share Certificate $500 1.650 1.660 60

*APY = Annual Percentage Yield
^ APY = Annual Percentage Yield as of date of publication; valid on new money only. Active Community Powered checking account required. Not eligible with other offers. Penalty for early withdrawal. Limited time offer; rates/yields subject to change without notice. Minimum opening deposit is $500. Insured by NCUA. For people not receiving the News Journal, please pull this page up on your mobile device to qualify for this special offer in our offices.

 

 

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