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Savings
People save money for different reasons, anything from
vacations
to
college tuition to retirement. For that same reason we
have
the
following different
types of savings accounts available.
Share Accounts
A minimum deposit of $5.00 is all it takes to open a
share account,
commonly referred to as a savings account. A balance in
this
account is required for membership. It works just like a savings
account. Dividends are paid quarterly based on the average daily
balance over $100 maintained in the account through the quarter.
Share Certificates Our term share certificates provide an investment opportunity in which funds are deposited for a fixed term - from 6 months to three years. Funds deposited to these accounts generally receive a higher dividend rate than on most other savings accounts. Our certificates range from a minimum amount of $500.00 to $10,000.00 with varying terms from six months to three years. Dividends are paid at maturity. Deposits are insured up to $100,000.00 by the National Credit Union Share Insurance Fund. Early withdrawals are subject to penalties of 30 or 90 day loss of dividends depending on the term of the certificate. Individual Retirement Accounts An Individual Retirement Account (IRA) is a tax deferred retirement savings plan with eligibility criteria established by Congress. We currently offer the Traditional IRA. We offer a 1 year fixed rate share certificate or an 18 month variable rate share certificate. Deposits are insured up to $100,000.00 by the National Credit Union Share Insurance Fund. There is not set up charge or monthly service charge, only a minimal annual maintenance fee. Convenient rollover from outside IRA plans are available. Early withdrawals (Before age 59½) may be subject to additional federal income tax. Direct Deposit With our Direct Deposit service, you never have to worry about where your money may be and whether it’s safe. At SECU, our Direct Deposit offers you: ▪ Convenient, hassle-free deposit of your paycheck into your specified account ▪ Automatic transfer of funds into any of your SECU accounts ▪ Secure and reliable transactions you can count on Ask your employer to help you set up Direct Deposit of your paychecks to your SECU account. Or, set up Direct Deposit from one of your SECU accounts to another to pay for bills or loans, or to add to a savings fund. For more information about how you can put Direct Deposit to work for you, simply stop by any SECU branch or call 509-735-3571. Call 509-585-8880 for our Kennewick branch |