Savings customized to your needs 

If you're saving for the short term or the long haul, we have an account that's right for you.

Planning for a vacation? Setting aside funds for holiday shopping? Thinking about getting a head start on college tuition or even retirement savings? No matter what your savings plan entails, our savings options are designed to help you get to where you want to go. And unlike our streamlined approach to checking that is primarily about transactions, we believe having options on how best to save can help you achieve your goals.

Our member service representatives are here to help you select the right savings options to meet your individual needs. That way we can save you any confusion so you can focus on saving your hard-earned dollars.   

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Personal savings accounts

Every member is provided with a REGULAR SAVINGS ACCOUNT unless another account is specified. Features of this account include: 

  • Minimum $5 balance required
  • Dividends are compounded daily and paid monthly
  • eStatements
  • Limit of six (6) ACH or automatic transactions per month

Daily Account

This account earns the same dividend as our Regular Savings Account, but also gives our members an additional savings account for a special purpose without having to open a new account.

Custodial Account

This account is designed with our younger members in mind (under age 18) to encourage the practice of regular saving. An adult custodian (parent or guardian) is required to be named to the account as all transactions other than deposits must be made by the custodian. 

 

Money market accounts and CDs

Insured Money Market Account

  • Minimum balance of $2,500 to earn dividends
  • Dividends are compounded daily and paid monthly
  • eStatements
  • Limit of six (6) ACH or automatic transactions per month

Certificates of Deposit (CDs)

  • $500 minimum balance
  • Limited access account
  • Unlimited withdrawals or transfers of earned dividends without a penalty
  • Dividend forfeiture for principal monies withdrawn prior to the maturity
 

Savings clubs

You're invited to join the club...of your choice. Whether you're saving for vacation, Christmas, or want to teach your kids how to save with our cu$aver & CU Man Kids Club, your savings goals are within reach.

Christmas Club
Vacation Club

>> Learn more about our youth savings clubs

  • No minimum deposit requirements
  • Deposits can be made at any time, in any amount
  • Disbursement options include: check, transfer to another account, or left in the account to be withdrawn at anytime
  • Dividends are compounded daily and paid monthly
  • eStatements
  • Limit of six (6) ACH or automatic transactions per month
 

Purpose-driven savings accounts 

Education Savings

Coverdell ESA

A Coverdell Education Savings Account (ESA) helps you save money to pay for your child’s current and future education expenses, such as tuition, fees, books, and supplies. Unlike state 529 plans, Coverdell ESAs can be used to pay for qualified elementary and secondary education expenses, in addition to post-secondary expenses.

Contributions to a Coverdell ESA are never tax-deductible. However, earnings grow on a tax-deferred basis, and distributions are tax-free if the money is used to pay for qualified education expenses. Anyone who meets the income requirements can contribute to your child’s ESA. Total annual contributions for each child cannot exceed $2000, and contributions must stop once your child reaches age 18. 


Investment options

Passbook ESA

  • No minimum balance required
  • Make deposits or withdrawals at any time in any amount with no dividend forfeiture penalty
  • Use payroll deduction/direct deposit to make deposits easily
  • Dividends are compounded daily and paid monthly
  • No custodial fees

Certificate ESA

  • $500 minimum balance
  • Lock in a rate for a specific term
  • Same terms/conditions apply as with share certificates
  • Dividends are compounded daily and paid monthly
  • No custodial fees
  • Dividend forfeiture for principal monies withdrawn prior to the maturity

Retirement Savings

Roth IRAs

A Roth Individual Retirement Account (Roth IRA) is available to anyone who has earned compensation and whose income falls below the limits set forth by Congress. Contributions to a Roth IRA are made after-tax, so there are no tax deductions for these contributions. However, your earnings grow tax-deferred, and withdrawals are tax-free as long as the funds have been in your account for at least 5 years and you are either over age 59½, disabled, buying your first home, or paying qualified education expenses. 

  • Dividend forfeiture for principal monies withdrawn prior to the maturity

Traditional IRAs

Traditional IRAs are available to anyone under the age of 70½ who has earned compensation.  A traditional IRA may provide you with significant immediate tax savings since contributions are tax-deductible if you qualify.  Income tax on the earnings is tax-deferred until you withdraw the funds. Minimum withdrawals are required once you reach age 70½.  

  • Dividend forfeiture for principal monies withdrawn prior to the maturity

Maximum Contributions

Tax YearContribution Limit 50+ Catch Up
2016$5,500$1,000
2015$5,500$1,000

Investment Options

Passbook IRA

  • No minimum balance required
  • Make deposits or withdrawals at any time in any amount with no dividend forfeiture penalty
  • Use payroll deduction/direct deposit to make deposits easily
  • Dividends are compounded daily and paid monthly
  • No custodial fees

Certificate IRA

  • $500 minimum balance
  • Lock in a rate for a specific term
  • Same terms/conditions apply as with share certificates
  • Dividends are compounded daily and paid monthly
  • No custodial fees
  • Dividend forfeiture for principal monies withdrawn prior to the maturity