SAVINGS PROGRAMS

NCUA Insurance
The NCUA (National Credit Union Administration) is an agency of the U.S. Government that protects member's savings accounts in the same way that the FDIC agency serves savings & loans and banks. Credit union accounts are federally insured to at least $250,000 by the NCUA.

Regular Share Savings Accounts
Deposits in a regular share savings account represents a member's ownership or "shares" in the Credit Union and it is the perfect place to save for the future. Every member must maintain a minimum balance of $5 in a share account to keep their account open. Dividends are calculated daily and credited to your account on a quarterly basis.
SAVINGS INTEREST RATES
CALCULATORS


Share Draft Checking Accounts
At your credit union, a Share Draft Checking Account offers the ultimate in convenience! Many financial institutions charge a monthly maintenance fee, have a required minimum balance or restrict the amount of drafts/checks you can write. You will enjoy these benefits:

• No minimum balance requirement
• No monthly fees
• No per-check charges
• Dividends are declared quarterly and may be $0.00

Christmas Club
Saving for holiday expenses is easy when you open a Christmas Club. Deposits can be made throughout the year as often as needed, and on October 1st., your accumulated funds and dividends are transferred to your Regular Share Savings or Share Draft Checking Account.

Summer Check Club
A Summer Check Club is a great way to save/accumulate funds during the school year and pay yourself during the months of July and August, when you are not working. Prior to the end of the school year, you determine how your funds are distributed–through five bi-weekly checks mailed to your home or five transfers to your Share Draft Checking Account.

Super Club
A Super Club makes saving easier because funds may be transferred to or from your Regular Share Savings or Share Draft Checking Account and withdrawals may be made at any time.

High-Interest Federally Insured (HI-FI) Accounts
HI-FI accounts require a minimum deposit of $2,500 to maximize your earning potential. Unlike a Certificate of Deposit, your funds are deposited for as little or as long as you like. You can make deposits or withdrawals, in amounts of at least $100, as often as needed. If your balance goes below $2,500 you will earn a dividend lower than the Regular Share Savings Account. Dividends are calculated daily and disbursed to your HI-FI account on the first day of each month.
SAVINGS INTEREST RATES

Certificates of Deposit
A variety of high interest rate certificate accounts are available for members who are looking for investment options. Certificate interest rates are subject to change weekly, however the rate in effect at the time of purchase is the rate for the term of the certificate. Penalties may be assessed for early withdrawal.
SAVINGS INTEREST RATES

Individual Retirement Accounts (IRA)
An IRA is an Individual Retirement Account. There are two types of retirement IRAs - the Traditional IRA and the Roth IRA. An IRA is a great way to start a savings plan for retirement. IRAs can offer many tax advantages, for example, tax-deferred interest income, deductible contributions and tax-free withdrawals depending on your personal situation.* A Coverdell Education Savings Account (formerly known as an Education IRA) is a savings account that helps pay for educational expenses of the child named on the account. If the savings account is used to pay for qualified education expenses, the earnings and distributions may be tax-free and IRS penalty-free*.

*Please consult your accountant or tax/financial advisor with regard to your personal situation. Please note in particular that withdrawals may be subject to an early withdrawal penalty if invested in a Certificate of Deposit.
SAVINGS INTEREST RATES
CALCULATORS

Health Savings Accounts (HSA)
A Health Savings Account is a tax favored savings account that is combined with a qualifying high-deductible health insurance plan*.  Employees who utilize this benefit can deposit tax deductible funds into their HSA to cover 100% of their health plan's deductible, as well as other qualified medical, dental and prescription expenses.

*A qualified high deductible health insurance plan has a minimum deductible of $1,200 for a single person or $2,400 for family coverage. The maximum out-of-pocket limits for 2010 are $5,950 for a single person or $11,900 for family coverage. These limits are subject to annual cost of living adjustments.