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Investments
Earn a higher return on your money by investing in a Share Certificate Account. The minimum deposit required to open one of these accounts is $1,000. All of your money is insured to at least $100,000 and backed by the full faith and credit of the United States Government by the NCUSIF.
Money Market Account |
A savings account that offers the competitive rate of interest in exchange for larger-than-normal deposits.
You are allowed 5 withdrawals per month. Furthermore, you usually have to maintain a minimum balance of $1,000 in the account to receive the higher rate of interest.
Member tip: This type of account is great to set up as Overdraft Protection on your Checking Account!
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Individual Retirement Account (IRA) |
An individual retirement account is a retirement investing tool for employed individuals and their non-working spouses that allows annual contributions up to a specified maximum amount.
Whether or not a tax deduction is allowed depends on the individuals income and whether or not they participate in an employer-sponsored retirement plan.
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Roth Individual Retirement Account (IRA) |
An individual retirement account is a retirement investing tool for employed individuals and their non-working spouses that allows annual contributions up to a specified maximum amount.
You cannot deduct current contributions to a Roth IRA, but when you make qualified withdrawals from your account, you will not be taxed on the withdrawals. |
Certificate of Deposit (CD) |
A certificate of deposit is a deposit made with a bank, credit union, or savings and loan. The deposit is a specified amount that is deposited for a certain period of time and a set interest rate. There are no fees on CDs, but a penalty is charged for early withdrawal.
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