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SHARE (SAVINGS)
A Share Account is the start of it all, your key to the
many financial services offered by the Credit Union. Your
original deposit (of $5 or more) makes you a co-owner
of the Credit Union and every additional deposit adds
to your shares. Dividends are earned every day that your
money remains on deposit and are posted monthly. There
are no maintenance charges nor service fees on Share Accounts,
with the exception of a dormant account fee. Your Share
Account may be accessed through visits to one of our offices,
by Direct Deposit of pay or pension check, by mail, or
through an ATM machine. Members receive regular statements
about their accounts and are welcome to make further inquiries
through TELLIE
or Tellie
On Line.
SHARE DRAFT (CHECKING)
Share Draft Account (Checking) is similar to any checking
account, but each check has it's own duplicate copy
for your records. You may choose from a variety of check
styles, which we offer at cost plus handling. There
is a $3 monthly statement processing fee. The first
30 checks processed each month are at no charge and
additional checks are cleared at 15 cents each. Just
in case you aren't perfect, we can provide overdraft
protection through a Visa® line of credit or your
regular share account. You may order checks online at
the Deluxe
Check Printers website.
RETIREEASE CHECKING
The RetireEase Checking program is offered to members
50 years of age and older who agree to have their pension
or social security checks placed in their accounts through
Direct Deposit. RetireEase is also available for members
age 62 and older, who are still working, and agree to
have their paycheck placed in their accounts through
Direct Deposit. There is no monthly processing fee.
The first 30 checks processed each month are at no charge
and additional checks are cleared at 15 cents each.
No minimum cash deposits are required.
DIAMOND CLUB
The Diamond Club rewards full service members with a
2% reduction in the Visa® interest rate, a 1% reduction
in the rate on most loans, a 1/2% bonus on most Share
Certificate rates. Membership in Diamond Club is easy
- maintain share (savings), share draft (checking),
STAR® ATM, and Visa® accounts in good standing.
Diamond club members are subject to the service fees.
CLUB ACCOUNTS
Club Accounts offer members ways to save for specific
events such as Holiday or Vacation. A minimum deposit
of $10 will open the account. Regular deposits may be
made by payroll deduction, by mail, or at any credit
union office. Dividends are paid at the maturity of
the individual account. Vacation Club accounts may be
opened in May and will transfer into your savings account
with dividends added the next May. Holiday Club accounts
are opened in November and will transfer into your savings
account with dividends added the following November.
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YOUTH ACCOUNTS
A Youth Account may be started in the name of any young
person under the age of 16. We feel it's important that
young people get started early on acquiring the habits
of thrift, saving, and money management. Many parents
open accounts for children at special occasions, such
as birthdays and add money to them periodically so that
children can watch their savings and dividends grow.
With a Youth Account, a generous dividend rate is paid
to encourage the habit of saving.
 NEW!
Dollar Dog Kids Club™
Membership in our Dollar Dog Kids Club is a perfect
way to teach kids ages 12 and younger the value of saving
and managing their money. By providing financial education
to children in a fun way they will be better equipped
to make wise financial decisions in the future. Visit
the Dollar Dog Kids Club
MONEY MARKET ACCOUNT
An Insured Money Market Account offers high short term
dividend rates on deposits, yet it allows easy access
without penalty and guarantees complete safety. You
can make withdrawals and transfers any time through
TELLIE. Withdrawals and deposits of $300 and over can
be made in person and lesser amounts can be deposited
through Direct Deposit. Dividends add up daily whenever
your account maintains a $2,500 balance.
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SHARE CERTIFICATES
Share Certificates provide the highest dividend rates
offered by the Credit Union. Insured up to $250,000
per account, they are available for a minimum deposit
of $500, for periods of maturity ranging from 3 to 72
months. Rates may vary depending on the amount of money
put on deposit and the maturity period selected by the
member. Although a substantial penalty will be assessed
if withdrawals are made in advance of maturity, the
Share Certificates can be used as security for loans.
Dividends are earned daily and paid quarterly.
We also offer special Share Certificates for Diamond
Club Members, as well as Jumbo Share Certificates and
One Up Share Certificates that allow you to change your
rate one time during the term.
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INDIVIDUAL RETIREMENT ACCOUNT (IRA)
An Individual Retirement Account (IRA) offers most members
savings on taxes while saving for retirement. The main
attraction of an IRA is that it lets you put off paying
taxes on some income until you withdraw it after retirement
when your tax rate may be lower. Whether your income
and present retirement plan qualifies you for a full
or partial IRA is an individual question. Ask about
the possibilities when you call or visit the Credit
Union. You can be sure of getting competitive dividend
rates and the convenience of payroll deduction (Direct
Deposit).
We offer a full range of IRA options to choose from:
Traditional IRA – This is the best
IRA for long term retirement planning.You don't pay
taxes on these retirement accounts now, when your income
is high. At retirement, you are able to take out your
funds or roll them over into another option. Taxes paid
then are usually less, since your income may be lower.
Roth IRA – If you will need your
money sooner than retirement, consider the Roth IRA.
Savings for a down payment on a house or other expenditure
will add up to more with the higher interest paid on
a Roth IRA. While you will have to pay taxes on the
funds now, you will be saved those taxes when you use
the money, and you do not incur any penalties for withdrawal
of deposited money after 5 years.
Coverdell Education Savings Account
– Parents, grandparents, relatives, friends, and
even minors (with earned income) can set up an account
for any designated beneficiary under age 18. You can
make nondeductible contributions of up to $2,000 per
child each tax year. The accumulation of interest and
withdrawals are tax-free as long as the funds are used
for financing Elementary, Secondary and Post-secondary
education expenses. The contributions to this account
do not count toward your IRA contributions, so you can
save for a child’s education and maximize your
own IRA every tax year.
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DIRECT DEPOSIT
Direct Deposit will put your net pay, your pension,
or any amount you designate directly into your Credit
Union accounts. Direct Deposit is a real time and money
saver. No worry about taking your check anywhere for
deposit, or standing in line to get it done. When your
deposit arrives at the Credit Union you can arrange
to have any part of it automatically transferred to
savings, checking, club accounts, loan payments or any
other accounts you may have. Handling your finances
will become simple and convenient with your credit union
doing most of the record keeping. If depositing your
entire check is too big of a step, you can deduct a
certain amount from your paycheck each pay period and
send it to us to deposit. It's a great way to make yourself
save! Inquire at any Credit Union office or where you
work. There is no charge for Direct Deposit.
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