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.

Share (savings) Accounts
Deposits in a share 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. Dividends are calculated daily and credited to your account on a quarterly basis.
SAVINGS INTEREST RATES
CALCULATORS


Share Draft (checking) Accounts
Share draft checking accounts offer the convenience of a checking account and the potential earning power of a savings account. Share drafts are used in the same way as regular checks, but without most of the fees and requirements associated with checking accounts. Your share account or an approved line of credit (overdraft protection) can be used to pay checks written on your share draft account when you do not have sufficient funds in your share draft account. You enjoy these benefits:

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

Club Accounts
Club accounts are share (savings) accounts for Christmas expenses, taxes/insurance, summer expenses, or special purposes. Club accounts earn the same dividends as regular shares. Each club account has special restrictions to make saving easier for you.
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, but 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 $1,100 for a single person or $2,200 for family coverage. The maximum out-of-pocket limits for 2008 are $5,600 for a single person or $11,200 for family coverage. These limits are subject to annual cost of living adjustments.